Present Situation Of Real Estate Company Business In Bangladesh

At present, the real estate sector is playing the leading role for people hosing requirement problem solution & country economic growth. The present situation of real estate companies in Bangladesh is stable position & this sector’s future is very good. Bangladesh, one of the foremost densely inhabited countries within the world, has severely regarding housing conditions. manufacture and accordant urbanization have obligatory social, behavioral, and physical consequences on urban life. These changes have reshaped the housing sector by modifying different socio-economic groups’ production processes and consumption patterns.

The Present Structure of Real Estate Company

Dhaka is one of the fastest-growing megacities within the world with a population of 14.17 million in 2009 over a section of 1528 sq. km, close to 9% of the national population. The town’s growth rate is 4.65% against one.48% of the national rate of growth as per the Bangladesh Bureau of Statistics (BBS). the common home size is 4.9 persons per house. The capital of Bangladesh is currently growing with an unexampled growth accommodating quite 600,000 individuals annually. It means once a year quite 120,000 house units are needed to deal with the adscititious population in the capital of Bangladesh. During this state of affairs, the availability of housing within the town is simply around 25,000 units within the personal sector, and therefore the government contribution is nearly negligible. The personal sector contributors embody the formal personal sector (Real Estate Development Companies) and informal personal sector. Among these 25,000 units, land developers contribute15,000 units (appx.) per year, and individual developers give the remainder. it’s nominal within the context of the full demand, however, they need the potential to extend this range underneath improved policy tips.

The Present Factor Of Real Estate Company

Varied factors square measure related to and dynamical the present state and pattern of development of property growth. Physical aspects like variation in size of the flats, size of plots, price, and rent of residences in several locations and socio-economic condition of the dwellers, legal right ship pattern, automobile possession pattern, level of satisfaction of flat house owners with services provided by property developers, issues faced by flat house owners, factors operating behind flat purchase call, disposition to get the second flat, etc. affect the present pattern of flat development in several locations of town.so, finding the top 18 best real estate companies & developer agencies in Dhaka, Bangladesh is very difficult

The Present Trend Of Real Estate Company

The housing development growth in Dhaka was sluggish until the latter a part of the last decade within the twentieth century. In 1997 the housing development got a lift and was growing till 2007 once the caretaker government assumed the facility of the state and also the overall business within the country was on the decline. Till 2010, 1275 developers were known among them 29% were non-REHAB members and they shared only 12% of the market based on the number of projects Most of the non-REHAB personal developers might develop one or 2 comes and so disappeared. in keeping with REHAB, their area unit 1018 developers functioning until 2017. 

Most of the concentration of the housing has been within the planned residential areas, such as, Uttara, Dhanmondi, Gulshan and Khilkhet, and Basundhara community, that have knowledgeable vigorous housing developments. Siddeshwari is wherever the earliest development passed, preponderantly within the mid-1980s. Eskaton and Shantinagar additionally displayed similar growth patterns to a lesser extent.

Demand For Flats VS Living Cost 

The buying power of Bangladeshi people has seen a hike in recent years. Keeping in line, the value of living conjointly went skyrocketing. The rent for tenants is continually on the increase. The increasing range of individuals seeking rent is to be goddam here. The increasing value of living has diode to high demand for buying flats. the general public wishes to shop for a flat of their own to flee from high rent. Moreover, the costs of flats have gone down 20-30% within the last four years. per a study conducted by REHAB in 2012, it was seen that Associate in servicing calculable demand for residences in 3 years magnified from around 75,000 to 100,000. REHAB knowledge conjointly shows that the amount of unsold flats has return right down to 27,185 from 35,000 in Bangladesh, wherever Dhaka presently has solely 12185 prepared flats square measure to be sold-out.

Gap Between Demand And supply of Real Estate service

During the season 2001-2011 growth rate migration rate in the capital of Bangladesh town was 3.96% and 2.49% every year severally. The massive gap between demand and provide of real estate units still prevails that ends up in the event of informal settlements. Private property corporations will contribute to constructing quite 15000 units per year. The private property sector is currently enjoying the leading role within the provision of serviceable housing units. in step with the structure set up (draft) by the year, 2030 housing demand within the DMDP space is anticipated to be one,260,000 units every year as per RAJUK. the provision of housing units is required to be raised to an outsized scale to cater to the overgrowing demand. to cut back this huge gap between the demand and provide of housing private property sector has wonderful prospects and a large scope of contribution shortly. Demand for housing and new infrastructure may be shifted to those places. The private sector will even play a number one road in providing reasonable housing in residential area cities.

Read More: Top 18 best real estate companies & developer agencies in Dhaka, Bangladesh.