Catch up on what made the news in Bangladesh’s property market and related sectors during January.
Real estate sales have dropped 60 percent largely due to the political unrest in the country, according to the industry’s peak body.
“The housing sector has plunged into crisis because of prolonged political turbulence,” Md Sydul Islam Badal, general secretary of the Real Estate and Housing Association of Bangladesh, told the Daily Star. The political turmoil has taken its toll on a sector already affected by high lending rates, he said.
The urban housing situation is fast becoming critical, writes the Financial Express in an editorial.
Bangladesh’s urban population is growing at an estimated annual rate of 4 percent – 2.5 times faster than in rural areas. This has meant an increasing number of city dwellers are unable to meet their housing needs, the newspaper reports.
The government is considering withdrawing the requirement to install solar panels for new electricity connections to households, the Dhaka Tribune reports.
The State Minister for Power Nasrul Hamid said in January that the renewable energy measure would no longer be encouraged in urban areas, though it will still be promoted in rural areas.