There is evidence that property ownership empowers women by increasing their self-confidence, ability to contribute to decisions, control over their reproductive behaviour, ability to borrow and economic independence. Yet, women around the world own negligible assets. It is not surprising that assets ownership among Nepalese women is insignificant. In urban areas of Nepal, however, women's assets holdings have increased dramatically over the last four decades. The article analyses the institutions that resulted in increased asset holdings among women in Kathmandu, Nepal, and shows how strategic action by some men and women has given rise to new norms which favour property ownership among women. The findings are based on a sample of 193 women who legally own property (home or land) in Kathmandu, Nepal.