Nepal’s real estate market, which had already been slowing since the start of the current fiscal year (FY 2025/26), has witnessed a sharper decline following the Gen Z movement, according to government officials.
Ganesh Bhatta, spokesperson for the Ministry of Land Management, Cooperatives, and Poverty Alleviation, stated that the movement led to arson and vandalism at 22 land revenue offices and 14 survey offices nationwide. Of these, five land revenue offices and eight survey offices were completely destroyed, while the rest suffered partial damage.
Although some offices have resumed partial operations, the overall pace of land transactions has dropped significantly. Khimananda Acharya, spokesperson for the Department of Land Management and Archives, confirmed that land transactions have “fallen sharply” since the protests began.
Even traditionally active areas such as Bhaktapur and Lalitpur have seen noticeable declines. Madhav Ghimire, chief of the Bhaktapur Land Revenue Office, reported that fewer people are visiting the office compared to last year, signaling a slowdown in property deals.
The department noted that the downward trend began in mid-July, with government revenue also falling proportionally. From mid-July to mid-August 2025/26, only 104,218 transactions were recorded nationwide, compared to 127,206 during the same period of FY 2023/24 — a drop of nearly 20 percent.
Before the movement, there were 135 active land revenue and survey offices across the country. However, 36 of them suffered damage during the unrest, disrupting regular operations.
Further slowing the market, around 500 local levels have yet to complete land classification, restricting land plotting in many areas. Meanwhile, the Kathmandu Valley Development Authority (KVDA) has ordered a halt to 94 land plotting projects in the capital, labeling them illegal.
Officials also cited seasonal fiscal slowdowns as a factor. Banks typically finish their yearly financial settlements by mid-July, leading to reduced loan processing afterward. The Gen Z movement, which erupted in the second week of September, further delayed loan procedures and registration activities.
Comparatively, FY 2024/25 saw around 60,000 fewer transactions than FY 2023/24. While about 1.6 million land deals occurred in FY 2023/24, the number dropped to 1.54 million in FY 2024/25.
Revenue data show that between mid-July 2023 and mid-March 2024, land transactions generated Rs 25.43 billion, while the same period of FY 2024/25 saw a slight increase to Rs 28.49 billion. The total land registration revenue for FY 2024/25 stood at Rs 51.42 billion.
In an effort to promote inclusiveness, the government granted tax concessions worth Rs 4.69 billion that year — Rs 3.49 billion for women, Rs 1.10 billion for persons with disabilities, and Rs 100 million for other groups.
The department also resolved 1,424 dual-ownership cases, redistributing 2.8 million square meters of land between owners and tenants.
Currently, Nepal has 11.47 million landowners, with 6.98 million (61%) men and 4.48 million (39%) women. In urban areas, however, female land ownership has nearly reached 50 percent.
Interestingly, data from FY 2023/24 reveal near gender parity in land transactions, with 400,241 women and 403,451 men participating in property deals. Of the 32.84 million individual land plots nationwide, 22.02 million are registered under men and 9.76 million under women, according to the department.
