Posted by: sidster February 17, 2011
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"And, no, NRNs who go to arab/gulf are from outside district. They send money (which is in thousands or some lakhs) to their own districts. They teach their own kids. KTM people are may be in USA, but they are unlikely to send money at this stage. Frankly, I haven't seen anyone in the states lately who said, 'oh, gee, landprice/houseprice in KTM are low, I am going to buy it rightnow.' People with that kind of money can find better houses worth investment here"
I use to wonder the same, How do those Gulf workers who make 10 - 30 Rupees per month can possibly effect the land prices in the Capital that trades in Karods. I asked my father this question who retired after being a banker for 30 years. Here is what his answer was,
The Gulf worker saves 2 - 3 Lakhs in 2-4 years and buys a piece of land in their village. The Village Seller sells his land to multiple Gulfers and buys himself a piece of land in the Sadarmukaam, The sadarmukaam seller sells a bunch and buys himself a 4 Ana in the Valley...that is where the demand is coming from ...and just look at the numbers we have over 2 Million workers abroad just in Gulf region i think. The ones in USA, UK, Aussie, and Japan....may just buy their 4 Ana directly in KTM.
On the top of that add all the black money, Ghoos money, and hard earned money go into the Land. We do not have any industry in Nepal....all the money goes into either Gold or Land.
"And, no, NRNs who go to arab/gulf are from outside district. They send money (which is in thousands or some lakhs) to their own districts. They teach their own kids. KTM people are may be in USA, but they are unlikely to send money at this stage. Frankly, I haven't seen anyone in the states lately who said, 'oh, gee, landprice/houseprice in KTM are low, I am going to buy it rightnow.' People with that kind of money can find better houses worth investment here"
I use to wonder the same, How do those Gulf workers who make 10 - 30 Rupees per month can possibly effect the land prices in the Capital that trades in Karods. I asked my father this question who retired after being a banker for 30 years. Here is what his answer was,
The Gulf worker saves 2 - 3 Lakhs in 2-4 years and buys a piece of land in their village. The Village Seller sells his land to multiple Gulfers and buys himself a piece of land in the Sadarmukaam, The sadarmukaam seller sells a bunch and buys himself a 4 Ana in the Valley...that is where the demand is coming from ...and just look at the numbers we have over 2 Million workers abroad just in Gulf region i think. The ones in USA, UK, Aussie, and Japan....may just buy their 4 Ana directly in KTM.
On the top of that add all the black money, Ghoos money, and hard earned money go into the Land. We do not have any industry in Nepal....all the money goes into either Gold or Land.