For any country, the real estate sector is the growth center for the development of the economy. Right now the real estate sector in Bangladesh is one of the most attractive sectors of investment. Our country is one of the densely populated nations in the world & it has been experiencing a severe shortage of houses of its citizens. The rapid urbanization has become a huge headache for the country. There is an exquisite shortage of housing supply in all urban areas & it’s increasing with modern demand all over the country. Right now Dhaka is growing very fast compared to other cities in Bangladesh.
At this time there is a high demand for plots & flats. This acute & unfulfilled demand is highly attractive for investors in real estate. The Real Estate & Housing Association of Bangladesh (REHAB) is the mere organization of real estate agents, developers & builders. A good number of real estate companies are working under this association. Almost 83 companies are at present affiliated with REHAB. While more than 200 companies are working independently.
Some companies are working in this sector as a media between the seller & the buyer. Bproperty is well reputed among them. Homefairbd is following the same track. They have started their journey almost three years ago. In this short time, they have successfully created a huge real estate online market place.
This portrayal was not like that forever. In Bangladesh, before 1985 people in Dhaka city never had the thought of buying an apartment for living. Before 1995, people thought more than twice before buying an apartment. But in the last 10 years interest in buying an apartment has increased rapidly.
One of the best reasons behind this is house rent has been increasing in Bangladesh at a high rate. The inflammation in the house rent is encouraging middle or low earning people to buy apartments except not bearing the increasing expenditure of house rent.
Another reason we can say, the land is quite unavailable in cities at a suitable location. For huge demand & inadequacy, the price of land is very high in the urban area. This is making more people inclined to build & share apartments.
In our country, a larger part of the population belongs to the middle or low-income group. Real estate participants see the middle-income group as a huge market for this sector. Moreover, the real estate developers have started targeting mainly the middle-income groups in the last few years.
Like every other sector, the real estate sector had faced many falls from time to time. But they improved their marketing strategies & they have gained common people’s faith. It’s at a much better stage now what people haven’t thought this far back then.
