Over the past few decades, our nation has gone through many major changes. However, because of our optimistic attitude, we were able to move past these incidents and rise again as a stronger nation. We might look like a small country on the map but we have been moving towards digitization and development in an alarmingly fast rate. Read below to know the reasons behind why properties in Dhaka is a popular choice among property hunters in Asia.
Economy
According to a World Bank report, Bangladesh is among the five fastest growing economies of the world. The report also said that the FY2019 GDP growth projection is 7.3% – and why wouldn’t it be? Bangladesh has been an economic powerhouse for quite a while with our booming business sector and the emergence of startups, various agriculture and domestic industries and not to mention, the manufacturing industry plays a big role in it, too. Over the last few years, Bangladesh tapped into various sources of business and potential growth opportunities. Moreover, with the rapid increase in population, it’s unnecessary to state that more people equals an increased demand for properties in Dhaka. Besides that, Bangladesh has also improved electricity generation. Needless to say, private consumption along with a driven population is likely to stimulate growth.
A large amount of credit goes to the citizens of Bangladesh, too. Bangladeshis are resilient and we have always had an optimistic approach. It’s astounding how adaptive we are to change. In a megalopolis like Dhaka, major unfortunate events like the Rana Plaza incident, days of strikes and blockades, and the terrorist attack in 2016 should’ve probably slowed down city dwellers but strangely, that did not happen. Is it that because we faced so many tragedies, all of us have become normalized over the years? That can’t be stated for sure. However, it did prove that we can bounce back from anything. Therefore, building a life here would mean no matter what, opportunities will be just around the corner and one will not fall short of anything.
Affordability
One of the reasons why you should buy a property in Dhaka is because of how affordable living in this city is! Because of the staggering increase in population and the demand in the housing sector that comes along with it, land and apartment prices are lower compared to other Asian countries such as India or Vietnam. One thing that’s undoubtedly the most mention-worthy about living in Dhaka is the affordability. Starting from living expenses, food, transportation and entertainment, many things come easy in this city. Compared to other mega-cities in Asia, our nation has definitely more to offer within an affordable range. For instance, in Mumbai, property price starts from $173 and goes as high up to $460 per square feet whereas it’s comparatively cheaper in Dhaka. Obviously, the price varies based on location as well as other equally important factors but the comparison remains. For instance, in an upcoming developing area like Mirpur, the price per square feet starts from only $47. In Uttara, the price range is between $77 – $119. However, in elite residential areas like Gulshan, Banani and Dhanmondi, the price skyrockets to as high as $273.
That being said, Dhaka gives you an option to choose and craft your life the way you want, within the price you can afford. Once you can set up your home, transportation isn’t a big deal either. Many public transportation modes such as bus, CNG and rickshaw offer easy ways for commuting. Moreover, the digital age that we are living in right now makes going to places even better because of the existence of services like Uber and Pathao. Hence, even in this traffic and congestion, commuting has never been this easy!
Apart from living conditions and transportation, other costs will be comparatively cheaper, too. Our nation’s economy is doing well mainly because of the manufacturing and agriculture industry. Starting from clothes to buying fresh vegetables, everything comes at a really affordable price. Garments in our country produces clothes for name-worthy international brands. Most of the time, clothes that do not fit the buyers’ specifications get shipped off to different shops all over Bangladesh. On the other hand, besides big local departmental stores, fresh veggies can be found in ‘kaccha bazaar’ in different areas where you can buy various food items at lower prices – which can cut down your overall expenses by a big margin.
A land of opportunities
A developing nation is full of opportunities – and where there are opportunities, people will show up. Because of our recent innovations in the digital world, we have seen an increase in investment from other countries. Locality mixed with a proper vision is what takes small startups to high places – and we are doing exactly that! Potential property hunters from abroad can see us clearly now more than ever. Moreover, investing in multiple properties in Dhaka will be a way of making investment from which you can be profited as well. As long as we can keep that up, Bangladesh is slowly on its way to becoming a developed country within no time.
