Around 10,000 flats were sold in 2021, up from 8,500-9,000 per year since 2018
Dhaka Tribune
Tribune Desk
Publish : 22 Dec 2021, 08:23 PMUpdate : 22 Dec 2021, 08:23 PM
More than 10,000 flats have been sold in the current year as customers were able to recover from the Covid-19 pandemic fallout and make real estate purchases.
Sources also said that the government's extension of its amnesty to investing untaxed money in the housing sector also helped in boosting flat sales.
According to the data of the Real Estate and Housing Association of Bangladesh (REHAB), around 10,000 flats were sold in 2021, up from 8,500-9,000 per year since 2018.
Despite the rising prices of raw materials, the sales of property have increased 10-12% this year, said Kamal Mahmud, first vice-president of the association.
The prices of flats have started to rise in Dhaka, ending a three-year stagnation after easing of Covid-19 fallout, as the demand for new homes increased.
The prices of flats increased by at least 8-10% in the last one year due to the impacts of the price hike of steel and cement, putting pressure on apartment buyers, according to Mahmud, also managing director of Skiros Builders.
Prices of steel, cement, bitumen and stone chips have surged in the last one year due to the rising demand for raw materials globally after economies reopened following the ease of the coronavirus pandemic.
Industry people say the demand for properties is picking up as there has been limited investment opportunities in the productive sectors because of the pandemic-induced economic slowdown, a drastic fall in bank deposit rates, cheap loans, and the continued scope to invest untaxed money.
REHAB does not have any accurate data about how much black money has been legalized in the current fiscal year. But Mahmud admits: "There is an impact of the facility in the real estate sector."
According to the National Board Revenue, around Tk20,600 crore was whitened by 12,000 people in the last fiscal year.
Flat sales cross 10,000-mark for the first time
More than 10,000 flats have been sold in the current year as customers were able to recover from the Covid-19 pandemic fallout and make real estate purchases.
Sources also said that the government's extension of its amnesty to investing untaxed money in the housing sector also helped in boosting flat sales.
According to the data of the Real Estate and Housing Association of Bangladesh (REHAB), around 10,000 flats were sold in 2021, up from 8,500-9,000 per year since 2018.
Despite the rising prices of raw materials, the sales of property have increased 10-12% this year, said Kamal Mahmud, first vice-president of the association.
The prices of flats have started to rise in Dhaka, ending a three-year stagnation after easing of Covid-19 fallout, as the demand for new homes increased.
The prices of flats increased by at least 8-10% in the last one year due to the impacts of the price hike of steel and cement, putting pressure on apartment buyers, according to Mahmud, also managing director of Skiros Builders.
Prices of steel, cement, bitumen and stone chips have surged in the last one year due to the rising demand for raw materials globally after economies reopened following the ease of the coronavirus pandemic.
Industry people say the demand for properties is picking up as there has been limited investment opportunities in the productive sectors because of the pandemic-induced economic slowdown, a drastic fall in bank deposit rates, cheap loans, and the continued scope to invest untaxed money.
REHAB does not have any accurate data about how much black money has been legalized in the current fiscal year. But Mahmud admits: "There is an impact of the facility in the real estate sector."
According to the National Board Revenue, around Tk20,600 crore was whitened by 12,000 people in the last fiscal year.