Housing Report Market Survey in Nepal

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Introduction Housing is a basic need of every human beings, it provides security, pride and ownership. It has great significance in human life. One does not require shelter for protection against natural elements and hostile weather, but also for maintaining standard of family and society. It is one of the significant indicators of urban growth and economy of a particular city. Real estate is a legal term that encompasses land along with the improvements to the land, such as buildings, fences, walls and other site improvements that are fixed in location-immovable. Real estate is often considered synonymous with real property (also sometimes called realty), and housing is one component of real estate. Real estate covers both commercial…show more content…
This is creating various challenges for the proper growth and advancement of the sector. Lack of regulation, organizational structure and professionalism has led to the illegal construction process with unreliable building permits and use of substandard materials in construction. In addition, poor legal framework cannot cater to the interest of all the stakeholders in the sector. Nevertheless, the private sector is playing an active role for the development of housing and real estate sector. Professional real estate developers have mobilized their scarce financial resources and even borrowed from banks and financial institutions to invest in this sector. Housing supply in Kathmandu has been taking place almost entirely with private sector initiation and through owner-builder process, financed mainly from personal savings, sale of family assets such as land and jewelry, family loans, and to some extent, provident-fund loans. In addition to the above sources, the financing is also supported by loans from employer institution and bank loans. Family income compared to the price of land and house is quite low. It takes five to ten years, on an average, for low-income families to save to buy a plot of land and then almost as many years more to 20 build a house. It is common to build low- and middle-income housing incrementally. Another interesting story can be noticed in the construction of house in the Kathmandu Valley. Virtually all the
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