More than one hundred buildings, located within the Galle Fort, have been purchased by foreigners, increasing the value of one perch to Rs 22 million, the Galle Heritage Foundation said.
With this development, the population within the fort, which used to be around three thousand, has decreased to around 1000.
According to the foundation, some foreigners who have purchased property are facing many problems due to the fraudulent sale of the land and buildings by brokers.
It was also said that due to the high price of one perch in Galle Fort, there is a decrease in the arrival of new investors.
An official of the foundation said that there are about 450 buildings in the fort that are run by government institutions, and more than 100 of them have been purchased by foreigners to run tourism business.
These buildings are of archaeological value belonging to the Dutch and English eras. (Unawatuna D.G Sugathapala)