Changing Buying Behaviours of Property Seekers
Changing Buying Behaviours of Property Seekers

Changing Buying Behaviours of Property Seekers

Realty sector has started to bloom after years of standing still. More property transactions and revenue collection at Department of Land Reform and Management (DoLRM) suggest that the market is moving upwards. It is also observed that customer’s buying behaviour has changed. Today, customers are buying properties for investment purpose. People are shelling out their savings on Real Estate market as their long term investment plan.

A reason for the trend is increased affordability. Lower interest rates on home loans by banks has helped. Besides that, changed monetary policy has also reduced interest cost for housing developers. So developers are completing projects on time and making timely property handover to the buyers.

Nepal has limited options for making huge investments. Rapid infrastructure development in the country is a good sign. Development of means of transportation has eased people to move to sub urban. Developers are bringing in afar projects. Furthermore, remittance received from Malaysia and Middle East is one of the reasons people have funds to make investments in the Sector.

Technology is also changing the property buying behaviour lately. Today, if you were to see a One Crore worth property being sold via paper ad, most probably you will not proceed any further. However, if you are somehow still attracted and are interested, your next action would likely be to go online. There are lot of overseas buyers of Nepali properties because they now have access to more information. These information allows them to consider a lot of things before they decide to fly here, take a tour and then buy. This is all due to accessibility of information. Property investment is no longer confined to just buying your neighbourhood all the time. Technology has changed the world many times over.

The market is shaping up and customers are responding in positive manner. It’s a win-win for both. Housing developers are getting customers and customers have wide range of options to choose from.

 

Editorial team

Brihat Group