KATHMANDU, APRIL 13 The Nepal Rastra Bank (NRB) has released its inaugural report on the status of Nepal's real estate market, offering a trend analysis of the sector over the past three fiscal years. The report, to be published quarterly, draws on data from the Department of Land Management and Archive, the Inland Revenue Department, and NRB's own banking and financial statistics. The analysis is based on rajinama transactions - voluntary transfers or relinquishments of property rights commonly used to capture buy-and-sell activity - and examines trends in real estate and housing loans, transaction volumes, transacted areas, and declared monetary values. Real estate transactions in Nepal follow a seasonal pattern, with activity lowest in the first quarter and peaking in the third and fourth quarters. By total area transacted, Madhes Province recorded the largest share, followed by Koshi and Lumbini, while Karnali and Sudurpaschim registered the least. All provinces except Madhes saw the highest proportion of transactions in the 2.5–10 ana range; Madhes was dominated by plots exceeding 20 ana, reflecting demand for larger parcels for agricultural or industrial use. By declared value, Bagmati Province led all provinces, with mid-sized plots of 5–10 ana accounting for the most rajinama transactions in metropolitan and sub-metropolitan areas. On the lending side, real estate loans grew 72.41 percent between fiscal years 2077/78 and 2081/82, while residential loans rose 61.55 percent over the same period. Government revenue from the sector peaked at Rs 23.70 billion in the first quarter of FY2078/79, fell sharply to Rs 8.20 billion in the corresponding quarter of FY2079/80, and has since recovered modestly to Rs 15 billion in FY2081/82. NRB said the report is intended to help assess and monitor activity in the real estate sector.