Kathmandu. The real estate business in Bagmati Province has declined in the last fiscal year. The state’s real estate market is slowing down due to the slowdown in the economy.

According to the data released by Nepal Rastra Bank on Tuesday, the number of real estate registrations in Bagmati Province has decreased by 25 percent in the last fiscal year. A total of 98,648 real estate units were registered in the last fiscal year. In the previous fiscal year, the number was 131,451.

In the last fiscal year, the revenue from real estate registration decreased by 23.6 percent to Rs 139 billion. Such revenue had decreased by 26.23 percent in the previous fiscal year. According to the Nepal Rastra Bank, the number of ÷houses and buildings has decreased by 1.7 percent in the review year.