A significant surge in exports was recorded in Bangladesh for the most part, due to garment sales. $2.85 billion is the current value of clothing exports, a major source of income for the country. Total exports for the eight months that ran from July to February totaled $22.12 billion, which was an increase of 8.9%. This is a very positive bellwether for the greater economy. Bangladesh is now the second largest exporter of apparels in the world, close behind China.
So what effect will this have on the macro economy?
Prices to rent
Currently the price to rent ratio is 27.33 in the city center according to the latest statistics from Numbeo.com, outside of the city center that drops to 21.76. That is very high for the region. An average one bedroom apartment to rent is around $157 per month, with that dropping to $96 outside of the city center. The price range for three bedroom apartments is: $268-$638 in the city center or $198-$319 outside of the center.
What if I want to buy?
Price to buy
The price to buy an apartment in the city center per square meter has increased rapidly over the past decade. It now costs on average $1,172 in the city center, with that rising to as high as $1,649 in most in-demand areas.
Outside of the city center that drops to $576, which could be a more viable investment option, given how heated the city center market has become. These prices can only be measured against the average monthly disposable income, which is $364 per month, so for the vast majority of Bangladeshi, buying is beyond their reach.
Companies like Bproperty are making it even easier to finance real estate purchase. On their site they have an easy-to-use mortgage calculator, allowing you to work out monthly repayments and interest rates. The burgeoning home loan market is making the purchase of a dream home a realistic goal for many.