Bangladesh Property Market 2015

Bangladesh Property Market 2015

 There are many UK nationals who have family in Bangladesh and have property there as well. If you have property to sell in Bangledesh, what can you really expect this year and beyond in the Bangladeshi property market?  The indications are pretty good, and 2015 has been a decent year for real estate in Bangladesh. There is clearly a lot of money to be made in the country. Here are some of the trends seen so far in Bangladesh this year that are really quite fascinating.

It’s a Market Dominated by the Young….

Real estate in Bangladesh is a business dominated by the young. This is understandable as Bangladesh is a very young country with an average age of less than 35.  So what this means is that there is a new generation of risk takers and go-getters, who are trying to turn things around in the country, without much help from the government or from any international agencies. The young real estate professionals in Bangladesh are very creative, known for making the most of their limited resources and yet, professional and trustworthy. They are also the first generation of Bangladeshis to rely on technology and the internet for most of their business dealings.

Foreign Direct Investment is on the Rise…

Foreign direct investment in Bangladesh is driven primarily by people of Bangladeshi origin settled abroad, in countries like the US, UK, Malaysia, Singapore and Saudi Arabia. Real estate dealings in Bangladesh contribute around 12 to 15 percent of the nation’s GDP and with an increase in foreign direct investment in the country, this could very easily increase up to 20 to 25 percent of the GDP.

An Improvement in the Standard of Living…

There has been a substantial improvement in the standard of living in Bangladesh. The people are better educated than ever before and have bigger disposable incomes. There is a rising, affluent middle class in the country which wants a place to stay. The middle class is hence investing heavily in apartments and in commercial property. Owning a home is absolutely important to Bangladeshi culture, so there is always going to be a great demand for housing here. The demand for housing can come from Bangladeshis settled abroad as well as from those living in the country. What is clear is that there is a lot of wealth in the country, and people are looking for avenues to invest their capital.

Widespread Use of Internet, Even in Real Estate…

The internet is big in Bangladesh. The smartphone penetration is also very high. This has meant that a lot of business transactions – even in real estate – are done online. Real estate portals are very popular and real estate marketing in Bangladesh is all about using the internet effectively. In fact, there are 33 million internet users in the country and 72 percent of those who bought homes in Bangladesh last year used the internet to help them in their search. 82 percent of the real estate professionals in Bangladesh are on the internet already. The internet has completely transformed the real estate sector in the country and changed the way business is done.

A Business-Friendly Government…

Bangladesh has a very business friendly government, which welcomes foreign investment into the country. The government has been granting permits, processing contracts and operating much more professionally than ever before. The red tape has been cut and the bureaucracy no longer as powerful as it used to be. True, there is a long way to go still before Bangladesh becomes a business-friendly nation, but a good start has been made.

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