How much does it cost to live in one of the prominent neighborhoods in Dhaka? According to a report published by BRAC Institute of Governance and Development (BIGD), only 18% people can afford to own apartments in Dhaka. Among these lucky few, only a handful of people live in the prominent neighborhoods of the city. Though the market is niche, apartment price in these areas has skyrocketed over the last couple of years making them significantly expensive. However, this could not slow down property sales/ rent in such localities as demand for luxury also grew with it.
Let’s take a look at the average apartment price comparison between four of these places, Bashundhara R/A, Baridhara, Banani, and Gulshan.
Bashundhara R/A: Shaping The Luxury of Future
Bashundhara R/A is still a developing residential area, and yet it made its way in the list of prominent localities in the city. As it is new, therefore, compared to the established ones, it the least expensive among them. Based on our data, Bashundhara R/A has an average price of approx 6,500 BDT per sq.ft as prices vary between 5,200 and 8,500 BDT/sq.ft. As it is a diversified area, there are several types of apartments to serve different segments of the society. Hence the price varies within this range. So, if you are looking for options for affordable apartments in Bashundhara R/A, then this might be the suitable choice for you.
Apartment Prices in Baridhara
The 3rd most expensive residential area on our list is Baridhara. This area is long known for being one of the quietest neighborhoods in the city. Therefore, demand for luxury apartments in Baridhara grew at quite a faster rate. Here, you will find apartments ranging on an average of approx 7,500 BDT per sq.ft. Therefore, a 1,400 sq.ft apartment will cost you around 1.5 crore BDT. Thus, currently making it 15 to 20% more expensive than Bashundhara R/A.
How About Banani? The Booming Commercial Hub
Not long ago Banani was just another regular and peaceful residential area. Suddenly the hype of western foods entered the market and at the same time commercial hub slowly shifted from Motijheel to Banani and the adjacent areas. For this, not only the price of commercial spaces almost doubled, but the residential apartments in Banani also saw a sharp increase, making it one of the most expensive neighborhoods for apartments in Dhaka. Compared to Baridhara and Banani, it is about 40% and 62% more expensive respectively. To find a decent medium sized family apartment here, you will need a budget of minimum 1.8 crore BDT. If you are lucky, you might find your dream apartment at a lower price.
The Most Expensive apartments In Dhaka
Gulshan tops the list of being the most expensive neighborhood in the city. Compared to Bashundhara R/A, Apartments in Gulshan are about 50% more expensive. That means the same apartment in Bashundhara R/A will cost almost double in Gulshan! However, there is also justification for such price tag. The facilities you will enjoy in Gulshan are unparalleled. Living standard is much higher and so the safety and security. Therefore, an investment in one of such luxurious and modern apartments ensures a better future.
Thinking of buying an apartment in one of such areas, then don’t wait. Reach out to Bproperty.com through the app or the website and drop your requirements. Our representative will get back to you with the best match of your dream property in no time.