News Blog
on Wed, 27 January 2010 14:09 pm
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For the last several years, the business of real estate has flourished considerably in Nepal. People tend to buy plots of land not for the purpose of building houses thereon but from a commercial viewpoint. There are two major reasons for the increasing investments on land and buildings: easy and cheap bank loans and inward remittances.
Banks and other financial institutions have a real estate and house loan portfolio of Rs. 114 billion. This figure would represent about 12 per cent of the overall economy. This goes on to show that many people have been attracted to real estate and housing loans. Besides, the remittances sent home by Nepalese workers working abroad have also been used for land acquirement or housing purposes.
Migration
The unrest prevalent during the insurgency period forced an umpteenth number of people to migrate to the cities or abroad. The trend of such migration is still going on. With such migration, the need for land for the migrants to house themselves has arisen. This has sent them searching for land at any cost.
In the meantime, real estate entrepreneurs have become active. Capitalising on easy financing from financial inst...
on Mon, 11 January 2010 12:51 pm
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It appears from the recent practice of land capture in Nepal that it may go the way of Zimbabwe, a country which is taken as a classic example to demonstrate what can happen when land reform programmes take a wrong course. Once considered to be the bread basket of southern Africa, Zimbabwe is now struggling to feed its people with more than half of the population being malnourished. Tourism has collapsed due to conflict and insecurity, and a large chunk of the population has been pushed out by poverty to neighbouring countries for work. From 1990 to 2008, confiscation of land owned by large landowners was pervasive in Zimbabwe, and it was done in the name of land reform.
Started with a well-intentioned programme of transferring land owned by white settlers, who constituted 1 percent of the population and controlled 70 percent of the arable land, to local black peasant families, the land reform programme was politicised in Zimbabwe. Cadres of the Zimbabwe African National Union’s Patriotic Front (ZANU-PF), a party headed by Robert Mugabe, were encouraged to capture the land and distribute it to the cadres and sympathisers of the party. While large tracts of land ow...
on Mon, 11 January 2010 10:58 am
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Asian economies were reveling in an unprecedented decade of growth when the US sub-prime market began to collapse. The shockwaves did not reach Asia’s shores until September 2008 with the collapse of Lehman Brothers. Singapore – a large open economy with heavy reliance on financial and business services became the first Asian casualty.
By October 2008, Singapore had slipped into a technical recession and the economy was expected to record the largest economic contraction since independence. By end March 2009, private consumption has been contracting for at least a good two quarters. Public consumption, on the other hand, expanded as government attempted to stop the rising unemployment with public spending. In Singapore, given the openness of the economy, the government stimulus package was at some 7.4 percent of the GDP. While the concerns of rising inflation in the long term and current account deficits are real, supporting growth and domestic demand are more important. After all, consumer price indices have slipped into the negative region. Lending rates have also been cut to spur domestic demand.
The government stimuli, low interest rate, and slew of other fina...
on Wed, 06 January 2010 10:40 am
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Use our list of common house-buying mistakes to avoid costly regrets.
1. Doing it alone. Buying a house is a complex transaction. Even if you don’t use an agent, you’ll need a complete, dependable team: lender, lawyer, inspector, insurer, as well as referrals and advice from friends and family. Enlist the help of these individuals early in the buying process.
2. Buying at first sight. You may be in love with the place, but does it fit your family’s needs and budget? Make a list of your needs and wants and make sure the house fits your requirements. Check out the neighborhood and the community before you buy by visiting at different times of the day and week to learn about noise and traffic patterns. Even if you don’t have kids, check out the local schools to make sure your resale value will be good.
3. Not getting pre-qualified and pre-approved. Being pre-qualified gives you a general idea of how much you can afford to borrow. Being pre-approved means a lender has verified your information and credit rating and agreed to provide you with a specific amount of money. You are in a better position to go house hunting k...
on Thu, 24 December 2009 14:20 pm
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Nepal experiencing a mini real estate boom
Nepal may not be the obvious next property hotspot but the mountainous country between India and China is experiencing a mini real estate boom as wealthy Nepalese real estate investors seek a safe have for their money, it is claimed.
Government figures show the number of new apartments built in Kathmandu rose more than three-fold last year to 3,385 from 1,088 in 2007, as high land prices and poorly enforced planning laws made building upwards more attractive.
According to the Nepal Land and Housing Association, land prices have risen by 300% since 2003. There has also been an increase in the number of estate agents in the capital city, Katmandu.
Among those who are rushing to become involved in the booming property business is former Miss Nepal Malvika Subba who also had a successful career in television before opting for the less glamorous job of selling housing.
She is now head of sales and marketing at property developer Shangri-La Housing which builds luxury apartment, a new concept in the landlocked country.
Although unrest may put off foreign investors it is having the opposite effec...
on Thu, 24 December 2009 11:15 am
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on Mon, 31 August 2009 12:33 pm
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KATHMANDU: The realty business has dropped by one-third, according to data from the Land Revenue Office. However, chief of Dillibazar Land Revenue Office Prem Bahadur Khapangi claimed that the realty business has not dropped but is in progressive state. “During the fiscal year 2007-08, revenue worth Rs 1.10 billion was generated from the sector and it increased to about Rs 1.55 billion in the fiscal year 2008-09,” he said during a programme organized here today.
However, records at the Dillibazar Land Revenue office depict a different picture. The government had a target of collecting Rs 110.85 million revenue during the month of June. It was able to collect only Rs 80.39 million, data from the office revealed. Similarly, in July the government’s revenue target was Rs 120 million but the office was able to collect
Rs 110.75 million only.
Economist Rewat Bahdur Karki suggested that Nepal Rastra Bank (NRB) strengthened its monitoring capacity in order to save commercial banks from investing in land financing. “Banking sector is an important part of economy. Since real estate business is a risky one, the sector has to be careful whi...
on Mon, 27 July 2009 15:08 pm
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Varun Developers is coming up with a mega housing project, the most awaited project in Nepal. The project called Park View Horizon is developing super luxurious high end condominiums at Dhapasi Height; Kathmandu. This project is of worth Rs. 3 Billion. The project is spread over 23 Ropanis of Land where more than 185 apartments with 8100 rooms will be built.
It is going to be the first high rise residential building complex where in 14 storied building will be constructed with an earth quake resistant structure approved by the Nepal government. It has various modern facilities like Jacuzzi, gym, air conditioned apartments, separate swimming pools for adults and kids, tennis court, jogging court track etc.
on Mon, 13 July 2009 17:14 pm
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Gradually Kathmandu is rising in its height.Generally every city always progresses from horizontal to vertical.Its a gradual development and growth of Nepal.The culture of Apartments and Housing is booming.People are looking for secured and peaceful place to live in.Due to insecurity, people are more attracted to apartments rather than stand alone housing units. Before, individual houses were popular but not anymore. The trend has changed.
At least 6,000 new housing units are on the fray for trade that cost from Rs 3,000 to Rs 12,000 per square feet, according to government officials. Ministry of Physical Planning and Construction records show that more than 67 builders are on a single mission of erecting more than 250 high-rise buildings in the capital, some as tall as 32-storey.(Republica July 10,2009).And it’s growing."The number of proposals for new high-rise buildings and apartment complexes never cease to decrease,” Subedi, who is the head of Kathmandu Division at the department, told.
Records show that last year 3,385 permits were given for housing units in apartments, high-rise buildings and housing compared to 1,088 the year before, according to N...
on Fri, 10 July 2009 11:02 am
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The land price in the valley is soaring.Below are the approximate price of the land in the valley.
Unit--Per Anna (342.25 sq ft)
Location Price(Per Anna)
New Road Rs 20 Million
New Baneshwor Rs 10 Million
Putali Sadak Rs 2 Million
Hattisar Rs 4 Million
Keshar Mahal Rs 8 Million
Kalimati Rs 4 Million
Ring Road Kalanki Rs 4 Million
Ring Road Balkhu Rs 1 Million
Harisidhi Rs 0.3 Million
Bhaisepati Rs 0.7 Million
Pulchowk Rs 3.5 Million
Sat Dobato Rs 0.4 Million
Thimi(Beside Highway) Rs 3 Million
Balkot(Beside Road) Rs 1.2 Million
Katunje(Beside Road) Rs 0.7 Million
Duwakot (Beside Road) Rs 0.6 Million
Gundu(Beside Road) Rs 1.4 Million
Source- 18th April-6th June2009(THT)
on Wed, 08 July 2009 17:40 pm
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on Wed, 22 April 2009 14:00 pm
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Just call over number 2081409 and list whatever you've for sale and rental and see how fast we can flip your properties.
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on Tue, 28 October 2008 16:39 pm
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Recently Nepal Real Estate Expo was conducted in Belgium. Nepali real estate developers have started exploring Nepali real estate market in Europe. This is first-ever real estate expo organized by Nepali housing developers in Europe. Since the number of Nepalese in Europe is huge so the expo is primarily targeted at Nepalese living in there. Many people wish to invest money in land, houses and flats in Nepal but they don’t have appropriate medium for this. But this expo will definitely help.
Nepal is still under developed country so it lacks investing opportunities. But real estate is the only sector with proper outcome. So there is a huge amount of cash flow in this sector. But this sector has seen a slowdown in the business since last few months. The booming price of the land has saturated, even declined in few cases in the last 5-6 months. But if we analyze this situation very keenly then it is a very natural business cycle that has been occurring in Nepal real estate. The cycle has turned around once again- the real estate business that saw unprecedented boom in the first nine months of the current year, is taking a downturn now. During the last fi...
pagiing ooptions here.
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