Insecurity fuels property boom in Nepal's capital

"This is where the money is," the former actress and presenter told AFP in her plush new office in downtown Kathmandu.

"When I was offered a job marketing real estate, I said yes straight away, because it looked interesting and I could see that business was booming."

Subba is head of sales and marketing at Nepalese property developer Shangri-La Housing, which builds and sells luxury apartments -- until recently a virtually unknown concept in Kathmandu.

As the global credit crunch has sent housing markets around the world reeling, Kathmandu is experiencing a surprise property boom as wealthy Nepalese seek a safe haven for their money -- and themselves.

"Many people tell us that it is not safe outside the capital and that they live in constant fear," said Subba, who believes insecurity and investment are the two biggest drivers of the capital's housing market.