The online property marketplace releases its cutting-edge market analysis
Did you know Bangladesh is the fourth fastest growing economy in South Asia? 50 years after independence, Bangladesh has performed impressively in economic terms. Six percent growth in the gross domestic product has been sustained for several years; no mean achievement.
Our real estate market report takes an in-depth look at the market, with expert analysis and projections. The report is a useful reference guide for those looking to invest in the country and who want to look at patterns to spot potential.
The whitepaper focuses on a few key themes: 2014 vs 2015 trends, online trends, real estate prices, foreign investment, demographics, changes in law, the rise of sustainability and what 2016 will hold. There are some interesting findings with regard to mobile penetration. At 30 percent of the country now with access to the internet, the potential for further growth is ripe. The extra contribution to the gross domestic product, an additional 10 to 20 percent penetration will provide, can be substantial.
Foreign direct investment is a key economic metric. At $129 billion, China is the biggest investor in Bangladesh. Surprising is the fact that half of the top ten recipients of FDI are from developing economies, including Hong Kong, India, Brazil, and Singapore.
The chapter on demographics attests to how male orientated the property game is in Bangladesh. Men account for nearly 80 percent of online house-hunting, a ratio much higher than in neighboring countries. One survey outlined in the report reveals that 64 percent of people make property decisions together as a family unit. It is important to note that property hunters are also searching from overseas; the USA leading the way, with the Uk and Germany a close second and third.
Sustainability is a hot topic in real estate. Developers understand that projects now more than ever need to be economically sustainable with eco-friendly materials. The first green building was opened in 2011 in Bangladesh by the EPIC group. LEED (Leadership in Energy and Environmental Design) has become the adopted standard.
The report concludes with projections for the future. A strong labor market and positive growth rates are tipped to sustain overall economic development in the medium to long term. Demand for apartments, office spaces will continue to increase in the main cities such as Dhaka, Chittagong, Sylhet, and Comilla. The home loan limit has been expanded to BDT 12 million from 10 million, a fact that will make home purchasing more accessible. Overall, there are huge investment opportunities over the coming years