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Discussion on Systematizing Real Estate Sector

  1 min 31 sec to read

May 2: Real estate companies shared their views and experiences about the challenges and opportunities in the real estate sector in Nepal and the ways to address those concerns during a discussion on held on April 27 regarding developing effective system and policy in real estate.

The discussion revolved around topics including the need to make the real estate market systematic, creating awareness program for the buyers, sellers and agents to communicate with the authorized real estate agents while buying and selling of property and bringing proper property valuation system.

While addressing the discussion, the professionals pointed out the gap of professionalism and professional practices in this industry. “We need to provide special attention on the training and development of the real estate agents because professional participants are the building blocks of professional industry,” said Sam Surya Tamang, CEO of Nepal Bhoomi.

Similarly vice president of Realtors Private Limited said that to affiliate the regulatory body with the government, it is necessary to carry out research on the history, financial data, transparency, legal issues as well as taxation issues in real estate sector of Nepal.

"Real Estate is the investment sector with the highest number of participants and largest capital. The investment avenue is highly systematic and organized in developed economy and equally disorganized and unsystematic in developing economy like Nepal. So, proper plan and strategy is required to make the sector organised,” shared Binod Subedi, founder of property247, who was the moderator of the Real Estate discussion event.  “We can't bring effective and fruitful solution to the current problems unless all professionals make joint effort. So, we have started to discuss the challenges and the solution in real estate sector of Nepal,” he said.

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