Most of us, in our everyday lives, have little interest in what type of property is popular in the country or which area in Dhaka people want to move to the most. That is until we need to find a property for ourselves. That’s when we look for home migration and property demand in Dhaka. The city is a popular choice among property hunters in Asia. But which areas are more popular? To answer that, we have created a nifty little infographic on property demand in Dhaka based on our own research.
Property Demand in Dhaka
Currently, Uttara is the most popular location to live in, in Dhaka, with almost a quarter of the total incoming requests; Mirpur is a close second. Most of the requests we receive in those areas are for small to mid-sized apartments. However, more than half of all the requests Bproperty receives are for flats around 1,500 sq. ft. An intriguing picture came to light when we analyzed total requests according to the number of bedrooms. Almost three-quarters of the total requests were for 3 bedroom apartments. Both these observations are signs that people living in Dhaka today prefer larger living spaces.
Demand and Supply
According to our research, Dakshin Khan, Mirpur, and Badda are very popular for apartments around 1,000 sq. ft., while most people requested mid-sized flats in Rampura, Banasree, and the Mohammadpur area. However, when it comes to flats around or above 2,000 sq. ft., Gulshan, Banani, and Bashundhara receive the most requests.
As far as supply goes, as it stands, the current availability of properties in the market can only cater to 34% of the total property demand in Dhaka. The majority of the flats in Gulshan are above 2,000 sq. ft. while Dhanmondi and Uttara have a large percentage of apartments that are around 2,000 sq. ft. You might be surprised, but Dakshin Khan, Badda, and Rampura have the highest percentage of 1,500 sq. ft. flats; all are areas that have reputations of being quite affordable. Last, but not least, we see that the best place to find 1,000 sq. ft. flats were Khilgaon, Mohammadpur, and Mirpur.
Property demand in Dhaka is always growing, especially with the reinvigorated real estate market. And with the recent reduction in property purchase taxes in the 2019-20 budget, demand is expected to rise significantly. So if you are thinking of buying property in Bangladesh, Bproperty is available to cater to all your real estate needs.