Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Bangladesh is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In Bangladesh, there is a growing demand for real estate properties, particularly in urban areas. Customers are increasingly looking for affordable housing options that provide modern amenities and convenient access to essential services such as schools, hospitals, and shopping centers. Additionally, there is a rising interest in gated communities and high-rise apartment complexes that offer security and a sense of community.
Trends in the market: One notable trend in the real estate market in Bangladesh is the increasing popularity of vertical living. With limited land availability in urban areas, developers are focusing on constructing high-rise buildings to accommodate the growing population. This trend is also driven by the desire for modern and luxurious living spaces that offer panoramic views of the cityscape. Another trend is the emergence of mixed-use developments, which integrate residential, commercial, and recreational spaces in a single complex. These developments cater to the needs of urban dwellers who seek convenience and accessibility to various amenities within close proximity.
Local special circumstances: Bangladesh is experiencing rapid urbanization, with a significant portion of the population migrating from rural areas to cities in search of better job opportunities and a higher standard of living. This influx of people has created a demand for housing and infrastructure development in urban areas, leading to the growth of the real estate market. Furthermore, government initiatives such as the "Vision 2021" and "Vision 2041" plans have prioritized the development of the real estate sector as a means to drive economic growth and alleviate poverty. These plans include the construction of affordable housing projects and the establishment of special economic zones to attract foreign investment.
Underlying macroeconomic factors: The steady economic growth of Bangladesh, along with low-interest rates and favorable government policies, has contributed to the expansion of the real estate market. The country's GDP growth rate has been consistently positive, leading to increased disposable income and purchasing power among the population. This, in turn, has fueled the demand for real estate properties. Additionally, the steady inflow of remittances from overseas Bangladeshis has played a significant role in boosting the real estate market. Many individuals choose to invest their remittances in properties, further driving the demand. In conclusion, the real estate market in Bangladesh is experiencing growth and development due to customer preferences for affordable housing and modern amenities, trends such as vertical living and mixed-use developments, local special circumstances of rapid urbanization and government initiatives, and underlying macroeconomic factors such as economic growth and remittances. These factors combined create a favorable environment for the continued expansion of the real estate market in Bangladesh.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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