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Real Estate Market in Bhutan
This land locked country is bordered by India in the South and Chine in the North. The prosperity and the unique features of this landscape always attract the buyers to try their hands in Bhutan’s Real Estate. Although men and women have equal rights according to law, women enjoy more power in the field of real estates as 705 of Bhutan’s land is under women’s control. The matrilineal inheritance system of Bhutan helps women own these 70% of land. Before, it was not easy to obtain a land in Bhutan.
But now with World Bank’s Challenges and the opportunities to develop this land lock country many private sectors come out to do real estate business. But there are still some disadvantages for huge real estate growth due to the lack of skilled labors and costly transportation charges of the materials used for construction of buildings.
Although there’s a demand to expand the residential areas due to economic opportunities, the Government of Bhutan is not compromising on preserving 60% of land for forest protection and another 26% under other protection areas which are not for real estate business. The land lords of Bhutan are in touch with Bhutanese Real Estate Agents to display their land on sale under the agents’ listings. The agents update regularly about the land value and the demand accordingly. Now with invention of computer technology, the landlords are able to purchase the Bhutan Tenant Database and upgrade their offer in that database to be noticed by the buyers or tenants.
They contact the land lords for purchasing or renting their lands, houses, apartments, sublet or rooms for the needed. Some private agencies take care of the lease or sale agreement. They also verify the tenants or the owners back ground reports, credit checks, criminal background checks and employment background checks etc for the favor of the seller or owner at reasonable fee
