Regardless of its sturdy nature, the real estate sector in Bangladesh like many others is also susceptible to a lot of concerns. Economic instability, politics and political uncertainty, generation change and demographics can play prime roles in creating new challenges or aggravating existing ones. Solving real estate problems is not an easy task and overcoming those challenges will require close inspection and absolute measures. But let’s focus on the problems first.
The fact is, a large number of people in our country are still in darkness when it comes to real estate investments. Lack of proper guidance and a proven unified structure within the real estate sector are two of the major limitations of the real estate sector in Bangladesh. Established companies focusing on real estate can’t do much about these problems due to either structural errors or other complications let alone encourage people to invest in their projects and vice versa.
But if enacted efficiently, there are ways these limitations can be resolved or at least reduced to bring balance back to the sector.
Equal distribution
It is not wrong to look for higher profitability and construct buildings in areas with a higher value. And this tendency is common all over the world. A lot of developers are practicing this for basically two main reasons. Lack of potential buyers and Higher ROI. There is no doubt that the real estate sector in Bangladesh was booming and would not take long for the market to have fully matured.
But still, there are not so many people who can actually afford a property in those high profile areas let alone sustain there. And developers are not as interested in building properties in affordable areas focusing on the people of middle and lower-middle-class nature and thus creating a disturbance in proper real estate distribution. Solving real estate problems such as this will need proper commitment.
However, this tendency has been changing lately. And thankfully a lot of initiatives such as fixing a single-digit interest for all kinds of real estate loans with easy installment are being taken to make sure owning and building a property stay within reach of most people. Furthermore, although there are rules such as BNBC to maintain minimum standards when constructing new buildings, the government Might want to put some sort of limitation on the maximum number of buildings that can be constructed in a certain area or locality as well.
investment Opportunity
By real estate investment, most people only understand buying a property that they can rent out for residential and commercial purposes. But it can be really expensive and there is also uncertainty and commitment issues that should be taken into account as well. So is this the only way to invest in real estate? Absolutely not. There are ample ways to invest in this sector. Investing in REIT (Real Estate Investment Trust) companies can be an excellent way to invest in this sector. REITs are specialized companies that own, maintain, operate, or otherwise drive their income from real estate assets. These companies trade on stock exchanges and you can buy them with a click of a button and very little capital.
But since such organizations are not so common in our country, land developers and homebuilders are two other ways to invest in real estate through the stock market. Crowdfunding is relatively new but another excellent way to invest in real estate and solve real estate problems. In this process, an experienced real estate developer identifies an investment opportunity but instead of financing the entire project with their own money or bank financing, they raise money from investors in exchange for an equity interest in the project.
Establishing a proper information hub
When it comes to solving real estate problems, not a lot of people are knowledgeable about the sector. Most people are unbeknownst to all the “how to’s” regarding property verifications, financial aspects and, most importantly, finding the right property that fits their needs. That is why “I want to buy a property but don’t know where to start” is pretty common in this country. Besides, real estate agents, firms or brokers are not common either.
Also, there are a lot of real estate scams that are actively robbing people of their money and creating complications in the sector. So there is no alternative to establishing proper knowledge hubs in order to ensure balance. Since a lot more people are becoming interested in investing in the real estate sector nowadays, there is a need for establishments such as Bproperty, who are doing their best to provide people with proper information regarding real estate is indispensable.
Proper support
For overcoming any kind of limitation, you need some sort of reliability. Be it, legal, financial, or something very basic, support is really really important. If you are a buyer and want to purchase a residential or commercial property, you will need assistance to guide you through the entire process. The same goes for sellers, tenants, and landlords who want to rent out their property. Otherwise, they all have to be either reliant on posturing or advertising which as it turns out, is not such an efficient idea after all.
Apart from that, paperwork is really complex when you are dealing with real estate. One wrong move can put you in grave danger. And then there are the after-sale support issues. But you do not have to go through all this hassle, Bproperty your one-stop property solution provider is here to help you meet your needs while ensuring everything is in its place.
Overcoming the aforementioned limitations or solving real estate problems is not easy but not impossible either. There just needs to be a system that actually works. Whatever your query is that system should answer those with credibility and integrity. And rest assured, that there will be less complication amongst people about real estate than before for sure.
What is your take on this issue? Do let us know in the comments sections below, we would love to hear from you.
