Considering all the development initiatives that the government has taken to ease the lives of people in the subdistricts of Dhaka, it won’t be wrong to predict that these very areas will be the ones to experience the next real estate boom.
The real estate sector, on the whole, is more durable and less volatile than other industries. Because immovable assets such as properties rarely respond to daily price movement and fluctuations. Also, they hold intrinsic value for their finite supply and demand. So no matter the place, if there is demand, the price of properties will appreciate. However, when it comes to investments, you must be careful.
Thirty years ago, investing in Baridhara and Gulshan would have been considered profitable as the land price has risen more than 700% and 1036% respectively in those areas since then. But prudent investors would not seek to invest in these areas today.
That brings us to the question, what are the potential locations inside Dhaka for property investment? Short answer– the subdistricts of Dhaka. That being said, here are the promising subdistricts of Dhaka to buy properties that are highly likely to provide a great ROI in the future.
The plan to transform Keraniganj into the next big thing in terms of development and as part of the DMR (Dhaka metropolitan region) expansion plan is why you must put Keraniganj high up in the list of promising subdistricts of Dhaka to buy properties. The government has taken multiple initiatives to make Keraniganj more habitable and feature-rich to reduce pressure on Dhaka as population growth exceeds the limit.
A 15,000 sft hi-tech park is also proposed to make the area more economically sustainable, and Keraniganj is all set to be developed as a modern suburb of Dhaka. However, the great thing about Keraniganj is its affordability and availability of land. Especially for people in the middle-income class, purchasing a piece of land is still within reach. You can buy a plot of 6 katha land at only Tk 30 lakh in Keraniganj.
Located in the Northwestern part of Dhaka, Savar is the next area in line to be developed as part of the DMR extension plan along with Keraniganj. Major industrial estates such as the Hazaribagh tannery has already been shifted to Savar. But what makes Savar promising is its proximity to already developed areas of Dhaka (e.g. Mirpur and Uttara).
Savar is also home to countless garment factories that are contributing significantly to the economy of Bangladesh. So Savar already has all the elements to establish a fully-fledged city just like central Dhaka. According to an estimation by the Population Census 2011 & Compiled by Consultant, RDP, the total population of the Northwestern region is expected to exceed 2.69 million by the year 2025 and housing demand for the region at the same time is projected to stand at 650,000. With that kind of population and bright prospect for development, Savar is definitely one of the promising subdistricts of Dhaka to look for in the future.
Nestled inside a serene natural setting, Dhamrai is one of the areas that have the highest potential for development and growth. Surrounded by greenery, the area of Dhamrai is a mix between a suburban and a rural setting. But with the expansion of the metropolitan area, Dhamrai is now poised to become a fully developed city center full of energy and happenings.
Dhamrai is currently undergoing several infrastructural development initiatives to support the residents of the area with better residential facilities. Educational institutes, healthcare facilities, and shopping centers are all there to facilitate your life. However, what makes Dhamrai among the most promising subdistricts of Dhaka is its adjacency to some major towns in Gazipur and Dhaka.
These are the promising subdistricts of Dhaka to buy properties that are likely to provide a great ROI in the future. Our country is developing and metro areas are expanding to accommodate people that have been overpopulating the capital for years. To help you get an idea of which areas of Dhaka to look for in the future for a thriving housing market, I hope this article was helpful. Let us know know your thoughts in the comments section below.