Deputy Minister of Power and Renewable Energy Ajith Perera said that though some people say that the housing industry boom is a bubble about to burst it was not so.
The demand for both mid and high end sector would continue even though the Central Bank too had negative sentiments about it, he said.
The Deputy Minister was speaking at the Build Sri Lanka launch press conference at Galle Face hotel last week.
Perera said that today the construction industry is a major economic driver and one of the main reasons for it to grow is the appetite by Sri Lankan expatriates to buy apartments from Colombo as a future investment and also migration from rural areas to Colombo.
“People also consider investing in apartments as a better investment than most of the other saving,” the Minister said.
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