A trend analysis brought up by leading property solutions provider Bproperty which shows most people of the capital preferring smaller and more affordable houses amid the Covid-19 pandemic.
The research data of the analysis was collected via the number of users, listings added and queries made at bproperty.com over the past six months, from January to June, said a press release.
Since March, when the coronavirus pandemic hit the country, most people have been looking for 2-bedroom apartments with the most preferred size being homes that are between 1,000 and 1,500 sq ft.
According to the data, the average rent people are mostly searching for is between Tk10,000 and Tk20,000.
The first quarter had been great for rental properties with rental listing growth increasing by about 20% from the last quarter of 2019, the trend analysis showed.
However, the rate of rental property listing started to dip during the end of March when the countrywide shutdown was first officially announced.
This was partly because the situation regarding coronavirus was new for everyone and most people were not sure what to expect next and thus regular activities had slowed down.
The demand for rental properties began to increase again starting in May but it was during June when Bproperty website traffic received a lot of hits on rental properties.
As per the data, many people are looking to rent at the moment and the overall queries for rent is higher than the early part of the year.
Bproperty’s analysis also revealed that in 2020, some of the areas with the lowest average rent include Shyampur (Tk8,086), Khilkhet (Tk11,386), Maniknagar (Tk12,427), Kafrul (Tk14,864), Dakshin Khan (Tk15,233), Agargaon (Tk15,829) and Hazaribag (Tk15,918.)
Despite the growing demand for these areas, Uttara, Bashundhara R/A and Mohammadpur still remain the most demanded areas for rent, according to Bproperty.
These areas made up about 35% of the total demand for 2020.
Mark Nosworthy, CEO of Bproperty, said: ”Given the current situation, it is understandable why there has been so much movement in the rental scene. Many people are having difficulty meeting their living expenses, which would explain why they would prefer to move and rent some place less expensive. We understand people’s demand, which is why we are very much determined to helping out everyone finding their desired homes to rent.”
