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Real sector is the growth centre for the development of an economy.
Bangladesh, being one of the densely populated nations in the world has been experiencing severe inadequacy of housing shortage for its citizens. Although majority of the population are segmented into the middle and low income groups, still the housing for all has been a fallacy in Bangladesh.
The private sector housing real estate developers have contributed a small proportion in the national housing demand and supply gap for the last more than twenty years.
Despite inadequate policy preparations, these real estate developers have been successfully making business although the middle and low income households are still untapped.
With the larger proportion of people living in this income group, the private housing real estate sector has a huge scope to grow in this country. The positive notion is supported by many key indicators such as increasing house rent, inadequate and costly land, easier financing availability and more.
To pave the way for the organic development of the industry, the problem of long existent inadequate financing availability at flexible terms and costs must have to be removed immediately, and wider scope has to be created for Non Resident Bangladeshis. With many other issues, this study attempts to identify the current status of the private housing real estate in Bangladesh, presents deeper insights of the critical factors for increasing its coverage, and thus finally recommends some immediate policy measures.
Infrastructural development is highly important for a country to rise as a developed nation and to ensure housing facilities for the citizens of the country. December, importance of this sector there have been a few studies which are far below the required number on the real estate sector and its accessibility to financing.
Due to the lesser studies conducted on this sector, it requires an extensive study to find out the future potentiality, problems and solutions of the real estate sector and the availability of financing in this respect.
This study, exploratory in nature, may work as the basis of knowing the present scenario and for any future study. The study also aims to identify policy measures that should be addressed immediately to ensure an organic growth of the private residential real estate in Bangladesh.
Pure basic research approach has been used along with this where theoretical and practical studies have been incorporated. Data have been collected through face-to-face interview. Several questions have been conversed in Focus Group Discussion FGD format to gather primary information from real estate participants.
Information has been used from different secondary sources such as internet, newspapers, annual reports, online and printed articles, journals and previous research papers on real estate sector. Opinions have been collected from experts and participants in the real estate sector, which have been very 2 Electronic copy available at: Numerical data have been analyzed and interpreted with concentration and relation to the main issue.
Data and information collected from different sources were compared critically and found no mismatching.
Theoretical analysis along with numerical evidence has been used to substantiate the findings of the study. The analysis has been presented first and then findings have been drawn. Rapid urbanization has become an acute problem for the country.
Dhaka is currently growing very fast compared to other. December, sector Amin S. According to REHAB they are currently supplying only around 8, to 10, units of housing apartments against the above-mentioned huge demand3. The approximate turnover in the real estate sector has been Tk.
In growth rate of this sector fell to 5. Though it had a 7. December, fostered by the continuous increase in the share and growth of real estate sector in the country. This contribution of real estate and construction in GDP of Bangladesh was As explained by Islam M. Thus the real estate being the most crucial housing facilitating private channel have extremely vital and large backward supply chain.
In Bangladesh, before people in Dhaka city never thought to buy an apartment for living. Prior to people would have to think twice before buying an apartment.
But in the last couple of years the interest in apartment buying has increased rapidly. The boom in Bangladesh real estate market took place between and But it faced fall in gaining rise in From there was not so high growth but the market was stable.
From to it has been growing rapidly caused by huge household demand, lack of enough land, rapid urbanization etc. December, people of Dhaka city have housing facilities with standard or below standard4.
Main reasons for positive expectation have been presented evidently in the following points.Journal of Management Studies, Department of Management Studies, University of Dhaka Issue: December, The Dynamics of Residential Real Estate Sector in Bangladesh: Challenges Faced and Policies Sought Muhammad Saifuddin Khan1 Suborna Barua2 Abstract: Real sector is the growth centre for the development of an economy.
The dynamics of Residential Real Estate Cycle in Hong Kong Huang, Eakin Yi Kun Department of Real Estate & Construction, The University of Hong Kong1 Paper submitted to the 2nd HKU/HKPolyU Research Students Research Symposium, 24 .
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Expats In Mexico Yucatán real estate blogger Mitch Keenan introduces his new blog with a look at the dynamics of the real estate market in Mexico. Despite inadequate policy preparations, these real estate developers have been successfully making business although the middle and low income households are still untapped.
With the larger proportion of people living in this income group, the private housing real estate sector has a .