As the country is rapidly moving forward for rebuilding, getting back to normalcy in the daily life bring back all the necessities and hustle bustle of basic needs. The requirement of housing tops them all as the country is moving in the phase of reconstruction after the devastating earthquake. Looking at all the related scenario, one can say that there could not be a better time in the history of Nepal than now for housing developers, real estate business and buyers.
For developers, there is already a big growing market for people needing housing. The quake only opened up a new sector of the market with people wanting to buy new houses and move to safer, organized locations with developed infrastructure. And then there is another sector of the market with people wanting to repair, re-strengthen and retrofit their damaged houses.
Surviving the quake and learning about technique and ways to stay safer and build stronger houses through various media these days, almost everyone has become somewhat of an expert on the subject matter. It is indeed a great learning experience for all to be aware and alert. This also help people make a right decision during the purchase of their next house or construction of one.
Banks and financial institutions (BFIs’) are coming up with schemes of lower interest rate on home loan. BFIs are doing so to mobilize the contracted market after the earthquake and to manage excess liquidity. They want to relief customers from the burden of interest rate, who are holding their construction projects or property purchase due to economic blockade and the earthquake.
From these positive vibes from all around, the sector is bound to prosper ahead. With streamlining the increased construction work, following new bylaws by the government and buyers taking advantage of competitive home loans by BFIs’, the future seems very bright for the real estate sector in Nepal.
“…there could not be a better time in the history of Nepal than now for the housing developers, real estate business and the buyers themselves.”