The Arghakhanchi Cement Real Estate Expo concluded on Monday witnessing sales and bookings of 550 houses and apartments worth Rs3.25 billion, the organizer Nepal Land and Housing Developers Association (NLHDA) said. The four-day event welcomed 175,000 visitors.

The NLHDA said that the fair was a huge success in terms of bookings and sales compared to last year. “Altho ugh developers had less housing and apartment projects, we saw better sales and bookings this year,” said Minman Shrestha, general secretary of the NLHDA. He added that lower priced products and various schemes and offers resulted in higher sales.

“Low-interest loans from banks and financial institutions also played a key role in the increased sales,” said Shrestha. Banks and financial institutions were offering home loans at interest rates ranging from 7.25 percent to 8 percent at the expo.

The 150 stalls at the fair showcased houses and apartments in the price range of Rs3.3 million to Rs35 million. Developers said that homes and flats in the price range of Rs3.3 million to Rs7.5 million attracted the most visitors.

Property developers said that the expo had been successful in terms of sales and bookings. They also said that many prospective buyers had shown interest in purchasing houses and apartments.

“We could not attain more sales and bookings this year due to the limited number of housing units available despite the enormous interest from visitors,” complained Shambhu Phuyal, general manager of the CE Group of Companies. According to Phuyal, CE sold six housing units during the expo.  

Similarly, Samir Maharjan, managing director of Classic Developers, said, “Many potential buyers came to our stall and obtained information about our apartments. Of the bookings we received, I expect 12 units to be sold within a month.” Classic Developers had displayed its new apartment project at the expo.

According to the organiser, property tours attracted many visitors while green housing promoted by UN Habitat also succeeded in imparting the importance of environment-friendly homes. The expo contained stalls related to Vastu home design, eco-friendly homes, earthquake resistant homes, new techniques in home building, after sales service, home maintenance and house buying, budgeting and finance, among others.

source: the kathmandu post,20 april 2015