Company officially closed for the Tihar holiday today. Business had already slowed down since the last few days. It will be a week of festivities and then back to business as usual, hopefully.
After Tihar, we will now move into actual land and house selling business working mostly as an agency. Given the current situation, we felt the business should expand into other arenas. Getting into the actual real estate business was one of our intent from the beginning. As a matter of fact, our company is registered in the Company Registration Office as a real estate company. Back then, the country’s situation was very fluid with market unpredictability, political instability and speculative and reckless investment in the real estate sector rampant. After careful examination, we had then decided to work as an agency that will facilitate customers who are on the lookout for property on rent.
It was a great decision and it worked very well. It also made us the first-ever party to provide such service professionally in Nepal. As a novel idea and with no guidelines, frameworks etc that we could follow, the company experienced numerous ups and downs over the years and has consolidated itself by learning from the experience.. .
Thus, and taking the saying “Every problem is an opportunity in disguise” at heart, we will now delve into the service of providing affordable land, house for purchase to clients in a hassle-free, professional manner. At present, the real estate market is at the lowest point possible. Just last week a report on a leading online portal presented data that depicts the real estate buying/selling activity has “virtually stopped”. Government revenue collection from this sector has decreased by as much as 63% in the last 3 months.
While this is a very bleak condition, we think we can make the situation work to our advantage. Less business also means less competition. It also means a lot of unprofessional, profiteers and other similar parties have already exited the business as their nature warrants quick and excessive profits for them to survive. Herein, and by building on top of our existing networks, brand recognition, prior experience, and strong organization, we can provide clients seeking to make a real estate purchase a platform with a reliable, legal, and trustworthy service.
In the end, we think it will work for everybody’s benefit. Buyers will not have to deal with unscrupulous agents and our business will get to make profit and grow. And so, we are excited with our new undertaking and wish for a production future.
Happy Tihar !