December 1, 2021, Wednesday
Nepal 1:37:26 pm

NRB unveils Housing Price Index, Karnali tops all in housing inflation

The Nepal Weekly
November 23, 2021

Nepal Rastra Bank (NRB)has made public its first Housing Price Survey report organising a programme on Sunday. The survey report includes the housing price index as well as inflation of the land and housing prices. Addressing the programme Governor Maha Prasad Adhikari said that the housing price index would be useful to know the price trend of land and houses in the future.

The base year of the index is determined on the basis of the fiscal year (FY) 2018/19. The report will be published on a quarterly basis in the future. There are two kinds of price index based on the source of statistics of the land revenue data and banking data. The housing price inflation recorded 12.57 per cent in the FY 2020/21 based on the housing price index of the data of land revenue. The inflation had remained 19.73 per cent in the last FY. The average inflation of the housing price based on land revenue data for the first nine months of the FY 2020/21 in the Karnali Province remained 23.88 per cent with top slot followed by Province 2 (17.42 per cent), Lumbini Province (14.45 per cent), Province 1 (14.20 per cent), Gandaki Province (11.83 per cent) Far-Western Province (6.35 per cent) and Bagmati Province (5.95 per cent).    The average inflation of the housing price based on the bank loan data on the first 9 months of the FY 2020/21 recorded 16.31 per cent. Aggregate inflation of the housing price was 26.45 per cent in the last FY. The average housing price inflation on the basis of the banking data of the first nine months of the Gandaki Province recorded 19.19 with top slot followed by Karnali Province (19.02 per cent), Bagmati Province (18.26 per cent), Far-Western Province (16.32 per cent), Province 2 (16.02 per cent) Province 1 (15.14 per cent) and Lumbini Province (4.32 per cent).