Trends are everything and they tend to last for a while, if the impact is strong enough
Where are we heading with real estate in Bangladesh? Everyone wants a home, a great office, or the best shop, but where is the focus lying? Dhaka is by far the heart of the country in terms of many things,includingreal estate. And though there are many other parts of the country that are developing and growing, it is important to understand the rate of growth in order to plan ahead.
Trends are everything and they tend to last for a while, if the impact is strong enough. This is especially so in the case of real estate, and it is vital to take a look at how some cities of the country did in 2019 when it came to providing properties.
Narayanganj was covered a few times on social media last year for its historic significance and activities. Although it is a popular place of discussion and heritage, it is not growing well in the scene of real estate. There may be some developments worth mentioning, but the overall growth of availability has actually significantly decreased from 2018 — nearly 60% fewer listings,according to the Bproperty database.
This is alarming considering the demand in the area is surprisingly high and we can only wait to see if development can meet that at a better pace.
Comilla too saw a drop in new listing availability, by about 28%. This can be highly attributed to the lack of demand for newer property there.
Businesses continue to flourish and current homeowners remain content, but real estate moves at a turtle pace.
To people of Dhaka, Gazipur is favoured as a resort-haven and as a strong connectivity point for inter-city travel.
But real estate? Last year saw a nearly 24% drop in new listing availability. Demand exists, but it’s not that high.
Most of the existing property listings meet the need, but with newer and more improved real estate, perhaps the demand will rise as well.
Sylhet has been the most stable among the major parts of Bangladesh last year.
With about 2,800 new listings entering the Bproperty database from Sylhet, there has been no significant change to the flow of arrival.
Chittagong is already a booming business hub of the country that demands a constant supply of new properties and 2019 showed just that and more.
There was a 17% increase in new listing availability from 2018.
With more interest growing in the region, we can quite confidently expect more and better properties to pop up in the port city in 2020.
Bpropertyalso opened a new office in Chittagong at the end of 2019.
Dhaka is undeniably a powerhouse in all aspects as far as Bangladesh is concerned, and the real estate scene is no different.
With so much interest in housing and businesses here, new properties are a must and there was over a 30% growth in new listings in Dhakain 2019. That is great, and while this along with previous listings are enough to meet last year’s demand, staying at the same pace of new listings will be a problem as demand is growing at an even greater pace.
The monumental problem of less housing than demand has been a running concern of the government for many years now and will hopefully one day meet a brilliant solution.
There is much movement in the country as far as real estate is concerned. Those looking for a new home have thousands of options across the country with little to be concerned about as far as these trends of growth go. For businesses, on the other hand, keeping an eye on these trends could prove pivotal for success in the future.