Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The real estate market in Nepal experienced a significant slowdown in Falgun, with only 36,471 deeds registered, according to the Department of Land Management and Records.
The department cited elections and numerous public holidays as the primary reasons for the decline. Compared to Magh, deed registrations fell by 28%, down from 50,837 registrations.
Earlier in the fiscal year, deed registrations fluctuated: 28,282 in Kartik, 51,632 in Mangsir, and 51,888 in Poush following the government’s allotment of plots in late Kartik.
Revenue from the real estate sector also contracted. In Falgun, only Rs414.95 million was collected, compared to Rs509.24 million in Magh and Rs517.32 million in Poush.
Bishnu Prasad Ghimire, President of the Real Estate Business Federation, noted that the land revenue office was operational for just 15 days due to elections and holidays, which curtailed transactions. “The country was focused on elections, and with more than 10 days of holidays, real estate activity naturally slowed,” he said.
This month included 14 public holidays, including Saturdays, further reducing market activity.
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