Bhutan is officially a happy country and many people love to compare with Shangri-La. It seems that Bhutanese people do not want to remain happy anymore and they have realized that land has more value than happiness. So, many people are now getting interested to buy land in prime locations. Naturally, when the demand of any commodity increases, its price increases too. I am quoting from a report of Kuensel Online:
"The trend began 15 years ago when financial institutions once gain began dishing out loans following a period of suspension, which was brought about by bad recoveries.
Today the demand for land in the city has increased manifold as every Bhutanese aspires to own property in the capital, housing is in shortage and loans are easily available at much lower interest rates.
What many people thought would be mere speculation, these factors, have doubled and in some places even trebled, the price of land in the outskirts of the capital, greater or extended Thimphu.
In the Thimphu city, a square foot of land costs between Nu.2,000 to 2,200 while in the outskirts, a decimal of land has shot up from Nu.40, 000 to Nu.50, 000 a couple of years ago to Nu. 80,000 to Nu.100, 000.
“Land prices are changing every month,” said a landowner in Babesa. “I sold 22 decimal of land for Nu.45,000 in 2003 and I am regretting,” he said. “Had I held onto it today I could have easily pocketed Nu. 2.00 million.”
Land buying frenzy on the outskirts has been aggravated with places like Jungshina in the north and Lungtenphug, Semtokha, and Babesa in the south coming under the city’s extended boundary."
There are basically two reasons behind this sudden rush of buying lands. On the one hand, the number of middle class people is increasing as a result of positive economic growth in Bhutan. On the other hand, many people feel that land is the best investment as the price of land is going up. In fact, there are too many sources in Bhutan that you can invest your money. That is why; investing in land is becoming a more attractive place to invest everyday.
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