There are endless possibilities in the real estate sector for experienced and static investors who don’t like to take too many risks. The global economic decline in the last few years affected every sector, including real estate. Coupled with Bangladesh’s economic downturn, the country’s real estate market was going through a rough patch. However, both the local and international real estate market bounced back thanks to its tenacity and characteristics. Investing in the housing sector today is very safe, and the clever investors are certainly doing so. Keep in mind though, investing in a sector without properly understanding it isn’t wise. That is why before you invest in real estate, you need to first understand the real estate trends in Bangladesh.
1. Secondary, Tertiary, and Rental Market
The number of rental properties has significantly increased over the last few years. All the while, people’s interest in buying property has also been increasing at the same rate as the property market continues to steady itself. Real estate portals like Bproperty.com have ushered in a new age for the secondary and tertiary market. People have more trust in the market and can quickly buy & sell second-hand properties or other similar transactions than ever before. On the other side, more and more people are coming to cities like Dhaka every day. Only a small portion of the people coming from rural or suburban areas can afford to buy a flat in Dhaka. That means, they need to rely on rental flats. A new real estate trends in Bangladesh is about to begin on the basis of the secondary, tertiary, and the rental market.
2. Huge Foreign Investment in the Real Estate Sector
Bangladesh’s real estate sector was in decline even a few years ago. We, however, were able to overcome this housing sector downturn quite successfully. Comprehensive real estate marketplaces like Bproperty.com started their operation in the country. Foreign investment is also increasing quite a lot in this sector. Emerging Markets Property Group (EMPG), which is one of the global market leaders in real estate and has operations in several countries, have recently invested ten million dollars in Bangladesh’s real estate sector. Such huge foreign investment in the housing sector is a first and a positive sign of things to come.
3. Demand Increase for Rental Flats
It is an unwritten truth in Bangladesh that the housing industry is only limited to the big cities, and the lion’s share of those are just in Dhaka and Chattogram. It is also true that more and more people are moving to cities. This has reduced the pressure on the suburban areas while dramatically increasing the pressures on megacities like Dhaka. The number of dwellings isn’t increasing at the same rate as the people. And as we mentioned, not everyone can afford to own a flat in cities like Dhaka or Chattogram. That is why most people are dependent on rental flats, and the demand for rental flats is increasing. There are also many who, even though can afford to buy a flat, prefer to live in rental flats. To them, the large investment needed for buying a property can be used better in other ways. And this is what makes the rental market so full of possibilities.
4. New, Creative Real Estate Trends in Bangladesh
Many reasons have made the real estate sector quite competitive. Just as the demand for rental property and rent has increased, so has numerous rules and regulations. Renting out is no longer a walk in the park. The standards for constructing a structure have become stricter due to recent fires and other disasters. As a result, the construction cost keeps rising. Another new real estate trends in Bangladesh is ‘Green Buildings’. Architects try their best to infuse the bricked structures with green and greenery. They are trying to design buildings that allow the most natural light and air into the structures. This reduces electricity cost as well as increase the beauty of the building.
Even with all the challenges, the real estate sector can once again hold up its head high. The housing sector is like that; much safer than other sectors. That is why investing in the real estate sector can be very profitable. Every smart investor for that reason stays up-to-date on recent events and trends. They take a measured risk based on these information, which helps them make a profit almost all the time. That is why you should also be aware of the different real estate trends.