A leading Nepali businessman, Om Rajbhandary, has called upon members of Nepalese diaspora in the UK to invest in the property market in Nepal.
Making a presentation at Monty’s Restaurant, Ealing Broadway, London on the theme "Investment Opportunity in the Property market of Nepal", Mr Rajbhandary said that Nepalese property market offered good return for the investors.
Rajbhandary, who is an executive member of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that return on investment in property market in Nepal was about 28% at present while in the UK it stood at around 10 to 15 percent only.
Saying that Nepal was witnessing rapid urbanisation, Mr Rajbhandary said well managed housing has become an essential part of people’s lives. Rajbhandary, who is also the chair of the FNCCI’s Urban Development Committee said that banks and financial institutions in Nepal are now providing housing loans up to 66 per cent of the equity. “If you deposit Rs four million in a bank, you will get around 7 percent interest per annum, but the return on property is around 29 percent,” he added.
He, however, advised that issues such as location, physical infrastructure, land, finance and ownership should be considered before making any investment. Brihat Investments (www.brihatinvestments.com<http://www.brihatinvestments.com>) and Brihat Group led by Rajbhandary are running dozens of apartments and housing projects in Kathmandu, Lalitpur and Bhaktapur.
The programme was organised by the Hyde Park Property Ltd.