Bangladesh’s socioeconomic condition has been very good since the beginning of this year. Due to this and a number of other factors, the real estate sector of the country seems to be turning around. Most of the companies in the sector have changed their strategies and are now focusing on the growing middle-income segment of the population.
At the same time, the confidence of buyers is apparently on the rise due to political stability and economic growth of the country.
Earlier, the housing sector was facing many challenges. Most of the realtors had complained of a drop in sales by 30-70 per cent over the last couple of years. They suffered badly because of slothful trend in real estate business. Some developers were forced to sell apartments at lower profit margins to maintain their cash flow. It is believed that the slowdown in the sector was due to prohibition of black money injection, instability in the share market, overseas job crisis, self-indulgence of developers and political instability.
But the trend changed following the announcement of low-interest home loan facilities to the government employees. Over the past six months, the business of real estate sector has increased by 20 to 30 per cent.
It is expected that the increasing demand for housing, expanding middle-class segment and soaring per-capita income will continue to boost sales in the sector.