Real Estate Sector Faces Crisis, Demands Policy Reforms
Summary
The Nepal Land and Housing Development Federation has demanded immediate policy reforms, saying the country’s real estate sector is in serious crisis. It has called for changes to land laws, easier bank financing, and clearer rules for apartment sales, foreign buyers, and non-resident Nepalis.
Key Points
- The Nepal Land and Housing Development Federation says Nepal’s land and housing sector is facing a serious crisis because of unstable policies, legal complications, and monetary sluggishness.
- It has demanded amendments to the Land Act, 2021, permanent opening of land registration and demarcation, and consolidated land and urban development laws.
- The Federation also wants higher loan limits, easier refinancing, one-door service for permits, and the right to sell a limited share of apartment units to foreign citizens.
- It has urged digitization of land offices, scientific registration fees and valuation rates, and removal of dual ownership over Guthi land.
