Real Estate Transactions Improve in Third Quarter with Nearly NPR 184 Billion in Sales
June 22, Kathmandu – The real estate market showed improvement in the third quarter of the current fiscal year. Compared to the same period last fiscal year, the transaction value nearly doubled. According to the central bank, property sales amounted to NPR 183.9 billion in the third quarter of the current fiscal year. In the third quarter of fiscal year 2081/82, the transaction value was NPR 100 billion. The number of real estate transactions increased by 6.42 percent compared to the same period last year, whereas during the previous fiscal year, the number of transactions had decreased by 4.52 percent in that period.
The number of registered property transactions rose by 0.62 percent in the current year’s third quarter, while in the same period last year such transactions had declined by 6.71 percent. The central bank also reported that the number of registered property relinquishment transactions increased by 12.17 percent this quarter, compared to a 3.26 percent decrease during the corresponding quarter last fiscal year. Total transacted land area expanded by 1.60 percent, whereas last year it had contracted by 10.84 percent during the same period.
From mid-January to mid-April, revenue collected from real estate transactions grew by 23.72 percent, compared with a 13.47 percent increase in revenue during the same period last year. Capital gains tax collected from real estate transactions rose by 31.42 percent in the current quarter, up from an 18.31 percent increase in the previous year. Bank loans disbursed for real estate during this period increased by 5.55 percent, compared to a 7.52 percent growth last year.
Among provinces, Bagmati Province recorded the largest increase in property relinquishment transaction numbers, up by 33.01 percent, while Madhesh Province saw a decline of 4.79 percent. Other provinces experienced growth in transaction counts. Gandaki Province had the highest increase in total transacted land area at 24.84 percent, whereas Madhesh Province’s transacted area fell by 9.33 percent. In the third quarter, all seven provinces saw an increase in total real estate transaction value compared to the same period in the previous fiscal year, with Bagmati Province showing the biggest rise at 131.52 percent and Madhesh Province the smallest at 22.67 percent.
