State Of Real Estate In Nepal 2019
Nepal has been struck by several challenges and undergone various extremities in the recent years. Earthquake in 2015 and economic blockade in the same year presented a challenge among dwellers. It seems though business and trading couldn’t be ceased by any of these hurdles. The looks of that are same on Real Estate business in Nepal. Real Estate business is growing in Nepal despite all these provocations. Matter of fact the sales of property and business in real estate is growing than ever before.
Immovable property such as land, house, condominiums and any type of building or infrastructure used for residence, businesses or other purpose is a part of real estate. Sales, purchases and renting of such properties involve Real estate business. Real estate has limited liquidity compared to other investments since they are not heavily traded. Real estate is also a dependable source of passive income. It is a business venture for all the daring entrepreneurs that have found a profitable medium to invest on.
Although the recent implementation of state system hopes to minimize migration into the capital, the scenario isn’t changing anytime soon. A heavy concentration of investment opportunities will always attract real estate agents to test their might. Also, the annual demand for housing and apartment in the valley is less likely to meet in the near future. This privation has contributed investors since they can always look for new investment gateways. Thus, real estate in Kathmandu and its neighboring states is always flourishing.
Obviously, there are several challenges faced by buyers and sellers as well. Especially in least developed countries, where we don’t have organized real estate market leads to chaotic trade. Dispersed individual brokers and real estate agents make deals under the nose of authority. There is no proper collection of buyer and seller’s information and pricing of lands and properties are made with an assumption. Hence a large portion of investor’s wealth falls upon a wobbly sector.
Of course, there are several newcomers in the market hoping to work with transparency. With the development of technology and increasing popularity of the internet in Nepal, real estate market has taken a massive shift. Buyers can now browse through several properties before choosing to buy one. Sellers can get a negotiable amount by exposing their assets to a larger audience. The speculative and abstract market is becoming more descriptive and service oriented. Real estate is a sector worth making hands dirty for enthusiastic entrepreneurs.