Dhaka has around 400 years history of occupancy. From then till now, many things have changed. Dhaka is now one of the megacities in the world with a population of 14.4 million. As the population is growing continually, the influx of people in Dhaka is also on the rise. Moreover, the economy is booming and so the living standard. Therefore, demand for standard housing is also increasing simultaneously. However, Dhaka is a congested city. Houses and apartments are cramming in most residential areas in Dhaka. The current supply of housing is not enough to satisfy the demand. Moreover, the present interest rate in Bangladesh is almost marginal. If adjusted with the ongoing inflation rate of 5.68%, a bank deposit is not a good option. That’s why the extra money from the higher disposable income is used for buying flats in different areas of the city. Since most of the neighborhoods are already occupied, where are people looking for apartments now?
For this, we have analyzed the housing trends in the city based on our data. From that, these five residential areas in Dhaka are the most popular choice for apartments right now.
Gulshan ranks At Number Five in housing trends of Dhaka
Gulshan is the poshest neighborhood in the city and also in the whole country. There are hardly few open lands left in the area for constructing new apartment buildings. Then again, this could not stop the demand for luxury apartments. Several old buildings are handed over to real estate developers for reconstruction, and that is how the supply is tackling the demand. Though the market is niche, Gulshan is not just famous for the luxury apartment it provides. It is also a perfect neighborhood providing the most facilities you need in everyday life. Considering all these, Gulshan is at number five in the current housing trends of Dhaka.
The Next Developing Neighborhood of Dhaka – Mirpur
Mirpur is one of few the places in Dhaka where affordability meets expectations. Recent data shows that middle class is the most extensive income group in our economy. They are capable of limited savings and that gives them the purchasing power of a medium-sized family apartment. On an average, apartment size in Mirpur is approximately 1,100 sq.ft. Based on the current price per sq.ft, it costs about BDT 45 to 50 lacs to own an apartment in Mirpur. For middle-class earners, this amount is bearable. Although, this is not the only reason Mirpur is popular. Recently, there have been significant developments that took place here. Roads and transportation facilities have improved noticeably. Not to mention, the national cricket stadium at Mirpur is a big attraction for residents. Additionally, the metro rail has a direct contribution behind this reason as well. Placing Mirpur at 4th on the list.
Dhanmondi Is 3rd In Popularity
This is where the top tier begins if you are looking for an apartment. Balancing the poshness and affordability, Dhanmondi is the best area that will come to your mind. Both the apartment size and the price is reasonable here considering the facilities it offers. Lifestyle is also different here. Filled with famous restaurants and international chains, it makes the perfect place for foodies. Also, there are several reputed educational institutions in the locality. Hence, those who look for getting the most out of everything and still maintaining a good and serene lifestyle by the lake, they pick Dhanmondi.
Bashundhara R/A: The Emerging Posh Neighborhood
Bashundhara R/A is one of the new residential areas in Dhaka. It managed to get popularity as one of the prominent neighborhoods of the city. The reasons are, Bashundhara is a developing posh neighborhood, and it plans to offer the best facilities as a residential area. Also, we have analyzed apartment price comparison among the prominent neighborhoods of the city. According to that, an apartment of the same size and amenities cost as much as double in Gulshan. Therefore, right now, the new apartment seekers choose Bashundhara R/A as a better substitute for a posh neighborhood of the city.
Uttara Tops The List Of Popular residential areas In Dhaka
Lastly, Uttara is the area where people look for apartments the most. It is evident because Uttara is long known as a true residential area. Plus, apartment prices are still the lowest considering a neighborhood like this. Also, if you want to live somewhere quiet and don’t want to worry about affordability, then Uttara is your area. Not only that, as it a large area, it has the most number of available apartments as of now. This is why most of the people are looking for apartments in Uttara and that is why it tops the list of housing trends in Dhaka.
Based on the overview of the housing trends, you can understand the current context of real estate in Dhaka right now. Therefore, it will help you not only understand the market better but also you will be able to take the better decision of your next investment in a property.
