Kathmandu. There has been a significant improvement in real estate transactions across the country. According to the report ‘Trend and Current Status of Real Estate Transactions’ released by the Price Division under the Economic Research Department of Nepal Rastra Bank, the collection of real estate transactions, transaction amount, revenue and capital gains tax for the third quarter of the fiscal year 2082/83 has increased.

According to the report, the total number of real estate transactions in the third quarter of the fiscal year 2082/83 has increased by 6.42 percent compared to the same period of the previous fiscal year. Such transactions had decreased by 4.52 percent in the same period of the previous year.

During the review period, the number of resignation transactions increased by 0.62 percent and by 12.17 percent. In the third quarter of the previous fiscal year, real estate transactions had declined by 3.26 percent.

The total area traded during the period increased by 1.60 percent. The transaction area had decreased by 10.84 percent in the same period of the previous year.

According to the report, real estate worth Rs 183.90 billion was transacted across the country during the review period. Such transactions were limited to Rs 1.07 billion in the same period of the previous fiscal year.

According to the NRB, the revenue from real estate transactions has increased by 23.72 percent while the collection of capital gains tax has increased by 31.42 percent. Similarly, bank credit to the sector has increased by 5.55 percent along with residential real estate loans.

According to the provincial data, the number of real estate resignation transactions has increased by 33.01 percent in Bagmati Province. In contrast, such transactions in Madhesh Province decreased by 4.79 percent. In all other provinces, resignation transactions have increased, according to the report. On the basis of total area transacted, Gandaki Province saw the highest increase of 24.84 percent while Madhesh Province saw 9.84 percent increase. It has decreased by 33 percent.

Similarly, the total value of real estate transactions in all seven provinces has increased compared to the same period of the previous fiscal year. Bagmati Province saw the highest increase of 131.52 per cent while Madhes Province saw the lowest increase of 22.67 per cent.

According to the Nepal Rastra Bank, plots with an area of 2.5 to 10 annas were the highest in all seven provinces during the review period. In the last fiscal year, Madhesh Province had the highest turnover of plots with an area of more than 20 anas.