If you are new to the real estate business, there is one particular thing you want to be fully aware of – Market Trends. More than anything else, you must have a proper idea of how the market works and how property value appreciates and depreciates. To that end, you can start with making a competitive analysis of the areas you want to invest your money in. But finding the right areas to invest in is not as simple. However, Bproperty can help you with that. We have access to a huge amount of data to conduct such analysis to find out the right areas with the best flat price for new investors.
In the following, we will be discussing why we picked these areas for the new real estate investors to invest in and what makes them promising.
Dakshin Khan
There is hardly any area in Dhaka right now that is more promising than Dakshin khan in terms of future value prospects. But its incredibly affordable property pricing is what makes Dakshin Khan one of the most potential areas with the best flat price for new investors. A 2-bedroom apartment in Dakshin khan costs only BDT 4,551 per square foot which is significantly less than a similar-sized property in Uttara located on the opposite side of the area. That is to say, you can purchase an apartment for as low as BDT 3,143 per square foot.
Besides, the proximity to other important areas of Dhaka including the entirety of Uttara, Bashundhara R/A, and Purbachal has proved to be a boon for the area. Speaking of which, the ongoing development in Purbachal is also boding well for Dakshin Khan in terms of connectivity and accessibility. Taking all these factors into account, the future is looking very promising for Dakshin khan to say the least.
Aftabnagar
Aftabnagar has been an investor favorite area for the last couple of years. It is now as promising as Dakshin Khan. It shows a lot of potential in terms of growth and development. The main reason why Aftabnagar is considered promising can be attributed to two things. Its overall development and growing demand. Aftabnagar is already halfway through its development process and just a decade away from being a fully-fledged residential area with every amenity and facility. Those who want to take a peek into how it will look like in its final phase can look at Banasree, located just on the opposite side of the canal.
This area has already become very popular among people with a middle-class status for its affordability and value for money. And the demand is growing more than ever before. According to Bproperty database, in 2019, Aftabnagar received more property requests than many already established areas including Kalabagan, Rampura, Maghbazar, and Bashabo. Furthermore, property prices also spiked over the last two years. For example, the average sft price for an apartment in Aftabnagar was BDT 6,013 in 2020, which is now BDT 6,480 in 2021. The average sft price for land has also increased by 25.7% over the last two years.
Bochila
Among all the areas with the best flat price for new investors, Bochila will definitely rank higher in terms of attracting big-shot investors. Located on the banks of the Buriganga River, Bochila offers everything that a potential investor would want. The area is directly connected to Mohammadpur and offers greater accessibility to the rest of Dhaka. Besides, there is no shortage of important establishments including schools, and hospitals as well.
This is the reason why this area is experiencing a housing boom in recent years. The sheer number of buildings constructed in the area has skyrocketed over the last few years. But the overall price remained astonishingly affordable and within the reach of most people. According to Bproperty database, the average sft price for land in 2021 in Bochila stands at around BDT 1,736. Whereas the average sft price for an apartment is BDT 4,167! The ratio of buying a piece of land over an apartment is way higher and that is a good thing when you intend to buy and hold your property over the long haul.
South Banasree
Being located in the southern part of Banasree, the South Banasree has a certain edge over other areas with similar characteristics. This meticulously planned area is also one of the most value-for-money areas in Dhaka and offers everything from renowned educational institutions to state-of-the-art hospitals. Also, the ongoing development in Block G, H, and I promises further advancement in terms of accessibility and housing facilities. That is why this area is one of the most potential areas with the best flat price for new investors right now.
Now compared to South Banasree, the current average sft price for an apartment in similarly developed Aftabnagar is 15% higher. This makes South Bansree one of the most lucrative locations for real estate investors to venture into.
Final thoughts
As per the initiatives taken by the government, Bangladesh is all set to become a high-income nation by 2041 through industrialization. However, in doing so, it will also incentivize other sectors to boom as well. The real estate sector is no exception.
According to Bproperty database, the overall apartment price in Dhaka has grown by 2.1%, even double-digit for some areas since 2020. Taking all the factors impacting the housing market into account, in most cases, this upward trend in price is quite common for the housing sector. And there is no sign of slowing down.
