Why LAND and HOUSE are so EXPENSIVE in Nepal?

We all know how expensive the prices of land and house are in recent days. An average salaried worker in Nepal now needs to save 10 years of salary just to buy the land in the capital. Realistically, it would take a minimum of 20-25 years and in that time, the prices will again soar to some astronomical figure. So, if average people cant pay for the land, why is it so expensive, who are responsible behind it and what problem is it creating?
Timestamp:
0:00 Durbarmarg
1:26 3 Reasons behind the Rise
4:42 Effects of Soaring Prices
8:22 Possible Solutions
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Edited by: Ajay Khadka ( / khadka__ajay )
Animations and Thumbnail by: Rabi Kandel ( / proto_flex )
Sources:
If you only have little time, read these three only:
cijnepal.org.np/why-kathmandu...)
(www.nepalitimes.com/banner/ka...)
(www.nrb.org.np/contents/uploa...)
If you have more time: go on with these:
(thehimalayantimes.com/nepal/r...)
(myrepublica.nagariknetwork.co...)
(english.onlinekhabar.com/kath...)
(www.nrb.org.np/contents/uploa...)
(farsightnepal.com/news/38)
This video features materials protected by the Fair Use guidelines of Section 107 of the Copyright Act for the use of criticism, comment, reporting and teaching. All the footage belong to their respective owners.
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My fav channel in Nepali KZbin!

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Mine also

[@TheNepaliComment]

Thank you so much ❤️ We went through your podcast several times during the research of this video. Even used audio from one of your podcast in the intro montage of this video. This is such a special moment for us...

[@Sushant_Pradhan]

@@TheNepaliComment I did realize I heard Dr. Manoj Shahi’s voice. I’ve been wondering about the real estate to avg GDP ratio (Nepal vs everywhere else) as well for years now. I also discussed with Dr Shahi on this exact issue post podcast and he said he wrote an article back in 2012 stating the same concerns. The kind of content you guys are producing is exactly what we need. Best wishes to you guys. Would love to see you guys hit that million mark soon. ❤️

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Babe...The Nepali Comment posted

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[@BlueWhiteWiper]

A correction at 3:24 , the tax rate as mentioned in section 95Ka(5) of Income Tax Act, 2058 for advance tax collected by Land Revenue Office at the time of registration on capital gain earned from the disposal of land or private building of any individual has been changed by Finance Bill 2079/80. The new advance tax rate that the LRO will collect is 5% if the disposal was done after 5 years of purchase and 7.5% if the disposal was done within 5 years of purchase. Also one should understand that the tax rate mentioned in section 95Ka(5) of Income Tax Act, 2058 is of advance in nature. Which means if the disposal was done by a registered real estate agent, then he shall assess tax as per D03 return, which means he will be taxed @ 25% and the aforementioned advance tax can be reduced from his tax liability. In the same Finance Bill of 2079/80, there has been an added provision which states that real estate agents must register themselves in PAN and fulfill all obligations of a registered person.

[@sushantadallakoti3747]

the rates should be in accordance to the holding of land....(eg: 3 months: 50% 1yr:25% 2 yr:10% and so on), the real state is not share market....!! Everyone must acknowledge that.. And the payment of funds during the transaction of land should be done through government portals

[@internetofbrains]

Hello The Nepali Comment, I agree with the fact that there is a huge bubble in the real estate market(especially Kathmandu). I am also aware with the things you have stated in the video and read those articles few weeks back, but I don't feel the solution you are suggesting is practical. Many people have already invested in real estate and are already into this bubble. Restricting it now will only create more panic and will eventually lead to crash in the real estate industry. The categorization must be done as soon as possible to identify the potential and limitations of the land as the government suggests. The price of Durbar Marg being so high isn't a surprise cause land price definitely differs due to its significance. Even if you look abroad, people residing in New York or Mumbai won't go saying why can't I afford a land in Fifth Avenue or Altamount Road. There are certainly different property tax for expensive land in Nepal. Another thing I would like to add is, minimal property price for taxation and maximum property bar for taxation may be determined by the government, but the same land maybe offered 9 Cr by someone while some may won't be willing to pay even 1 Cr for that. It's all in the eyes of a buyer. (Although minimum tax according to area should be paid as mentioned in archives of Department of Land.)

[@aarohanyt7374]

Majority of Those already owning land are long time investors who aren't selling anytime soon . A crash wouldn't necessarily be a bad thing

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He has just started and the growth is skyrocketing and i just think if he will continue posting and give consistency then no doubt he will gain million subs in 3 4 years. ALL THE BEST

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🗿

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Hope so

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1 year Mai pugx

[@mramit007official]

Very good information 👍thank so much brother 😘👍🙏 I’m watching from Uae 🇦🇪

[@mokpra]

I can imagine the homework behind this video…keep up the good work brother. Sad reality in every sector in Nepal. Bhrastachar ra anaitikta le desh dubcha chaadai.😥

[@Santoshi_Subedi]

Much love and respect to you brother for your work and research!

[@ControlZ-]

Great Topic! The SKYROCKETING of land real estate price is a major issue in the country and if it goes on future generations are gonna have a hard time. Also the quest to buy a land and a house is the main reason many of us are leaving the country.

[@jonis9033]

Tei tw ho proportional development navayesi. Eutai thau ma xa bhako nabhako infrastructure

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Your research and edit both are amazing 🙂

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One of the best youtube channel there is. The quality and the research and narration is great. Even the editing seems to have been improved.

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Keep creating awesome content & research like this bro! Starting from the bottom. Keep it going.

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Informative content as always. Waiting for the next one...

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Thanks, Dipesh! It was such an informative video!

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Nice to have a nepali youtube channel providing info on these issue.

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Yet another with the best content! ♥️

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[@sajalsatyal]

I don't think you can compare what is happening in Nepal to what happened in 2008 in the US. Most loans in the US in 2008 were bad loans, with improper income verifications, very low downpayment requirements and variable interest rates. These loans were then packaged into derivatives like Mortgage Backed Securities and Collateral Debt Obligations which caused the impact of the housing bubble popping to be much greater than it would have been otherwise. In Nepal real estate is not highly leveraged in the first place. Additionally, banks should be able to easily recoup their investments on bad loans due to high downpayment requirements. Your suggestion of strictly zoning land for agricultural use will only increase housing prices. How will having less housing decrease housing prices? The only solution to this problem is that government should build more public housing like in Singapore. Satelittes towns like Banepa need to be better connected to Kathmandu with roads and public transit.

[@nimasherpa4848]

It's not his suggestion government le nai lyayeko Naya policy ho land use policy esle aba city areas ko real estate ko price jhanai hike grcha...ailesma kittakat Pani Banda thyo barsa ko 1 choti matra pauthyo Tara aba if the land is deemed to be "residental property" Kittkat Pani open huncha...

[@BlueWhiteWiper]

Exactly, his suggestion of segregating and strictly imposing land ownership to restrictive places makes no sense in this regard. However any solution to this problem is going to make this bubble burst. No matter what the government tries, people will, till the very last, hesitate to sell their land at a lower price. Many many will loose a lot in their investments and no one can do anything about it. Even if government tries to catch the perpetrators, the sheer amount of real estate agents will overwhelm the government security forces, their jails, courts, everything.

[@nimasherpa4848]

@@BlueWhiteWiper I will give you the full picture...4 5 years ago government le kittakat year ko 1 choti matra garnapauney vanera rule lyayo for immediate effect ani Naya land use policy lyaunako lagi study garera lyauney vaneykothiyo tespachi big real estate organization le desh vari paisa uthayeko thiyo khulamkhulla commission dinalai paila it even came out in media for safeguarding "agricultural land" governmentle law lyayeko thiyo Tara law ko loophole use vayera kittakat vaerakhyathyo ansabanda ko naamma esle Malpot ma paila Vanda dherai vrastachar Pani vayo tesaile pachi yo rule Sarkar le firta Pani liyo because of the pressure ani KP Oli sure hatcha vanney thaha vayeko Bela tyo transition periodma aba khaye Pani holan but adalat ma mudda Parera agriculture land kittakat nagarnu vanera adesh aayo tespachi government was forced to divide the land in different categories...hudahudai yo Naya government aayo it took 4 5 years to make the law ani aile in effect vayekocha land use policy...in effect Garda government le sabai kittakat rokera aba land use policy anusar non agricultural land pani plotting garna pauney tesma pani kati garna pauney vaneyko cha 4 aana jati...esle aba land categorization grney ani agriculture Ra non agriculture vanera divide grna local government lai diyiyeko cha...many local government inside KTM has said there is no agriculture land in their area...Malpot ma letter Pani pathayeko chhan...esle non residential or commercial land ko surely aba major city area ko value badaucha...feri change Pani garna paidaina Rey if it is considered one category but people want to change their category local dekhi Pradesh government sma process grna parcha Rey...aru big cities bahira ko local government le chahi agriculture land vanera rakhiraheko cha...mancheko residential need real estate unaffordable vayo price high vayo vanera Vanda Pani yo sabai agriculture land bachauney vanera matra lyayeko ho Jun adalat ma Pani mudda pareko le adalat le Pani aadesh diyekole badya vayera government le gareyko ho...

[@nimasherpa4848]

@@BlueWhiteWiper yo bubble nai haina burst hunalai paila Suru ta demand le nai back gariraheko cha ani arko Kura etro capitalisation vaisakeyko cha kehi garera esko disruption le economy ma naramro effect garcha...slowdown or fixed basna skcha Tara crash nai chai huna skdaina...dherai Manche ko dherai stake vayekole...for affordable housing high rise apartment Pani banauna diney rule lyayeko chha paila thiyena esle Pani land ko price badako ho...maile ta boom dekhdaichu aile KTM area ta vaihalyo ajha yo Vanda Ali bahira ko areama residential or commercial land grabbing huncha Jata pani...it's a once in a lifetime opportunity...if you got enough money...plus vrkhar ko citizenship bill le NRN harulai Pani investment grna diney vayeko chha...ani private organisations lai direct foreign bank bata Pani loan lyauna milney gari study vaerahekocha yo liquidity crisis le garera...all in all jati Nepal ma paisa thuprina parney ho thupreyko Pani chaina...hamro foreign loan dherai Kam cha...tesaile bubble nai haina yo...central major area ma price high matra ho yo Jun jatapani huncha...

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[@sagarlimbu9025]

I have been working in UAE for past 5 years and want to buy house 🏠 in Nepal but what I found few years ago was discouraging. Price of Land is/was skyrocketing every year. I got no choice but to bought quick as possible and whatever land that could find in cheap price.

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I’m fan of how he gathers information and dissect the topic.

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Great research 👏

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Good luck dipesh!

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