Posted by: hakim_saab February 15, 2010
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I agree with pire, I would like to add a couple of more points to append his thoughts though.
1) The population of Kathmandu has quadrupled in the past 10 years. I remember when I was in middle school back in the 90's there were hardly any people beyond the main city area; population has a very strong correlation with a spike in real estate prices.
2) In Nepali society wealth is primarily symbolized through land holdings. In the US, wealth is characterized by stocks, bank accounts and high worth houses; owning a stretch of land is not synonymous with wealth here. Therefore there is a premium on landownership in Nepal.
1) The population of Kathmandu has quadrupled in the past 10 years. I remember when I was in middle school back in the 90's there were hardly any people beyond the main city area; population has a very strong correlation with a spike in real estate prices.
2) In Nepali society wealth is primarily symbolized through land holdings. In the US, wealth is characterized by stocks, bank accounts and high worth houses; owning a stretch of land is not synonymous with wealth here. Therefore there is a premium on landownership in Nepal.