The Real Estate Sector in Bangladesh
Bangladesh is one of the most densely populated countries. With an urban population of 30 million, the urban land shares are 2% of all lands and approximately 10% of the lands are not settled. 25% of the land is already being used for settlements and relatable human purposes.
Due to numerous reasons, the urban growth and development of the country is Dhaka-centric. As Dhaka being the nucleus city, the current real estate sector is highly emphasized with variable prospects. The real estate sector has been introduced in our country nearly after the liberation. And from then on, it has become an earnest interest of the people. Real estate sector is an integral part of the country’s economy. This sector is directly contributing to the GDP (Gross Domestic Product) by building residential & commercial spaces, developing unused land, helping other businesses to grow, inviting local and foreign investments and generating employment.
With the major segment of the population with a middle and low-income group, ensuring standard housing for the whole population is not an easy task here. Though, the private real estate developers have been successful in meeting a large proportion of the national housing demand in the last 40 years. The real estate is developing day by day and proving its fluidity in case of demand and supply.
The development of building structures being constructed in an unplanned manner is not always in favor of following the building codes. Real estate companies of the country are real growing towards the complete socio economic development. The real estate market of Bangladesh is fixed between 10-15 companies which hold approximately 95% of the entire market shares. The influencing factors are based on the expansion of the efficiency of the overall sector. This data has been collected from 220 customers, 15 real estate experts and 20 real estate professionals from capital city & the nearby outskirts.