Currently the real estate sector is in a very precarious position given the difficult period it went through the year before. But the pace of slow and steady growth was hampered by the political unrest which happened in the month of January slowing down the whole economic speed of the nation. But in an emerging and dynamic nation like Bangladesh with good domestic fundamentals, all it takes is one good month for the economic climate to change drastically.
Lamudi Bangladesh has been one organization which has been working closely with all the crucial companies as part of the partner network. As part of our primary research, we find that the difficult period is behind us and real estate investors can again look to invest and put money back in the economy, as per Mr. Farshed Ricky (Chief Marketing Advisor, Agrani Properties). We are also glad to report that the prices have not appreciated and behaved in volatile manner, helping turn the tide over even more.
Dhaka is still dominating the real estate sector in terms of price and demand at almost nine-tenth of the whole housing demand in Bangladesh. Though Dhaka is growing aggressively, the trend needs to change with other pockets in the country, most notably Chittagong and Sylhet needs to balance the growth and keep the demand stable and not overly dependent on one city.
The apartment purchase and rent price are still highest in Dhaka (avg. Price buy – 7784588 BDT) where Chittagong stands in the second place. Pricing in Cox Bazar, a popular tourist destination off to the south of the country is fast increasing though (avg. price rent- 21648 BDT pcm) As already mentioned sale price did not change in last quarter but for low sale rate, rent price increases slightly.
The culture of staying in independent house has still not picked up in the country as evident from the miniscule demand for the same, and even that coming from diplomats and C level officers from abroad.
Dhaka is again leading the chart for the demand and price rate for commercial spaces. Irrespective of the area of business, it is very common to see the main corporate office being in the capital of the country. Commercial spaces buy and rent ((avg. price rent- 17286912 BDT pcm) price is still very high in Dhaka. But for the next quarter, experts are of the opinion, the prices will be stable.
From Dhaka to any part of the country, land’s demand is always high. Though land price in Dhaka are sky rocketing, Chittagong is fast catching up in the land price boom. In surrounding areas of Dhaka most notably Narayanganj and Savar, two crucial industrial areas of the country, demand and price is also high with prices per a unit of land(Katha) standing at 35,42,400 BDT and 29,52,000 BDT respectively. The price was unchanged in last quarter but is expected to go up in the near future and start appreciating in the next two quarters.
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