Have you given a thought to how the apartment prices change when it comes to your most desired location? Many of you could be looking for the newest updates for the handful of prime locations in Dhaka. When apartment price is a concern, it is apparent to be speculative about the recent bulletin for the demanding locations. Hence, according to the data maintained by Bproperty, the current apartment price scenario has taken an invasive shape over the last few years. The price variation has been perceptible indicating the developments and housing trends for each neighborhood.
Let’s start counting backwards outlining the highest prices observed among the 7 most prominent areas in Dhaka.
TOP 7: Gulshan
Gulshan ranks the peak position concerning the highest apartment pricing scale both for residential sale and rent. The sales price is on average of around BDT 14,000 per Sq.ft. in this area. Hereby, the maximum (per Sq.ft BDT 16,000) and minimum (per Sq.ft BDT 12,000) price deviates only by roughly 33% (approximately). Thus, the locality tops the list of per Sq.ft. price range among residential properties all over Dhaka.
The context behind such steep rate is the enormous development Gulshan experienced over the years. Starting from standard of apartments to the hub of renowned multinational companies, embassies, banks, malls, delicious food restaurants and pertinent roads; Gulshan makes sure your investment is worth every penny. Besides, the price bar hits around BDT 150,000 when it comes to rental (for 3/3+ bedroom apartments).
TOP 6: Banani
Banani experiences the closest price ranges of Gulshan also not deviating much regarding per Sq.ft. range for 3 bedroom apartments. Meanwhile, the locality rarely entices smaller flats for sale, since most of these properties are accessible for commercial means.
The sales price is on average of around BDT 13,500 per Sq.ft. in Banani. Thereupon, the maximum (per Sq.ft BDT 16,000) and minimum (per Sq.ft BDT 11,000) price deviates by roughly 45% (approximately). However, Banani is catching most of the property buyer’s interest through topnotch residential apartments, international food chains, makeover salons, best coffee places, shopping malls and luxe roads. Besides, the area holds many of the recognized private universities like American International University Bangladesh, Southeast University and schools. Such development actively legitimizes the elevated price that an excellent apartment offers.
TOP 5: Dhanmondi
Dhanmondi is aborning as one of the refreshing neighborhoods and firmly secures the position of TOP 5 highest price tags for residential apartments. Over the years, Dhanmondi evolved as a complete neighborhood hosting English medium schools, hospitals, universities, and astounding food places. The price for 3 bedroom apartments experienced moderate growth ranging around BDT 12,000 per Sq.ft (on average). The maximum (per Sq.ft BDT 15,500) and minimum (per Sq.ft BDT 6,300) price faces a steep rise doubling the minimum price (by 50%) depending on the category of the apartment and offered amenities.
Concerning, the colossal development regarding roads and infrastructures, you cannot go wrong with the price height which is apparently stable. Thus, the property buyers are leaning more towards this locality who are a bit flexible with the budget to attain modern looking apartments.
TOP 4: Bashundhara R/A
Known as one of the most suitable living space and cordial neighborhoods, Bashundhara R/A is steadily turning to investor’s favorite. Speaking of this propensity, apartment buyers incline to this residential area in Bashundhara R/A for canvassing all the beneficial amenities along with affordable to luxurious apartments.
Unlike other locations of Dhaka, this neighborhood depicts the price range of apartments widely depending on the block positioning. The minimum selling price for the apartments located in distant blocks like block G, H, I, E deviates around BDT 6,400 per Sq.ft. (approximately). Whereas, the houses cited in the front section and close to the main gate and 300 ft. entry (Block A, B, C, D & F) outlines the big-ticket prices ranging close to BDT 14,000 per Sq.ft. (54% increase from the minimum price). Meanwhile, the average price per Sq.ft. is BDT 11,000 (approximately) which is very close to Dhanmondi’s average price bracket.
TOP 3 : Uttara
Being the fastest growing community on the edge of Dhaka, Uttara is attracting the house hunters and investors with its lucrative and reasonable offers. Hence, proposing economical price tags makes Uttara holding one of the TOP 3 positions with respect to feasible and affordable apartments.
Furthermore, the recent infrastructure developments and accessible commute system makes Uttara more living friendly to the ones seeking a comfortable lifestyle. The area is popular for both smaller (2 bedrooms) and larger apartments where unit price does not fluctuate much then the maximum ranges offered for 3 bedrooms (or larger) apartments. For instance, the minimum price strata is BDT 6,400 per Sq.ft. for 2 bedroom flats (approximately) which is only 17% less than the maximum price observed for 3 bedroom apartments (around BDT 7,500 per Sq.ft.). Moreover, Uttara is also popular for up-to-date apartments where maximum rental offer rarely exceeding BDT 50,000 (sector-wise). Although, the pricing of apartments varies featuring the sector positioning which makes it symmetrical to Bashundhara R/A.
TOP 2 : Mohammadpur
Acquiring the position of TOP 2 locations, Mohammadpur area grants you an extensive array of vacant apartments where the prices are in a mixed plate. The locality is more demanding for 2 bedroom apartments on an average rate of BDT 4,900 per Sq.ft. (approximately). Meanwhile, the highest pricing for state-of-art apartments does not exceed the bar of BDT 9,000 per Sq.ft. (on average). On that note, the maximum (per Sq.ft. BDT 12,000) and minimum (per Sq.ft. BDT 6,000) price deviates by close to 50% (approximately). Observing all the classic advancements from closest location Dhanmondi, the housing demand of Mohammadpur has lately experienced a sharp rise.
TOP 1: Mirpur
Mirpur secures the top position owning the most affordable residential apartments both for selling and renting commitments. One of the foremost concerns for selecting a community is “traffic”’ that Mirpur conciliates by new connecting flyovers in Mirpur. A series of tricks to avoid the traffic jam in Mirpur along with affordable family-sized apartments has turned this area worthwhile to many of the city dwellers.
The average per Sq.ft. price for 3 bedroom apartments is BDT 5,600 (approximately); considering the minimal margin (per Sq.ft. BDT 4,200 approximately). Although, the maximum selling price for 3 bedroom apartments (BDT 7,000 per Sq.ft.) is increased by 40% (approximately). Since the maximum bar seldom outstrips BDT 6,000 per Sq.ft. Limit; Dhaka citizens are considering living in Mirpur in regard to transportation facilities, offices, educational institutions and recreational platforms.
If your desired location falls under one of these 7 locations; do your calculations thoughtfully and make the best decision for your next property searching endeavor.