KATHMANDU: The latest Economic Survey released by the Ministry of Finance reveals that the real estate sector is anticipated to contribute 8.33 percent to Nepal's Gross Domestic Product (GDP) in the current fiscal year 2023/24. This marks a slight increase from the sector's contribution of 8.24 percent in the previous fiscal year FY 2022/23. Over the past decade, the real estate sector has maintained an average contribution of 8.79 percent to the GDP, with an annual growth rate of 2.3 percent.
Despite experiencing a decline in overall business activities within the real estate sector, there has been notable growth in housing and rental activities. This surge has resulted in an estimated growth rate of 2.98 percent for the sector during the current fiscal year.
