The Commercial Real Estate market in Bangladesh is experiencing significant growth and development.
Customer preferences: Customers in the Commercial Real Estate market in Bangladesh are increasingly looking for modern and well-designed office spaces that can accommodate their growing business needs. They prefer locations that are easily accessible and have good transportation links. Additionally, customers are also seeking commercial properties that offer a range of amenities, such as parking facilities, security services, and recreational areas.
Trends in the market: One of the key trends in the Commercial Real Estate market in Bangladesh is the increasing demand for office spaces in major cities like Dhaka and Chittagong. This is driven by the rapid urbanization and industrialization in the country, which has led to a growing number of businesses and multinational companies setting up their operations in these cities. As a result, there is a high demand for commercial properties to accommodate these businesses. Another trend in the market is the rise of mixed-use developments, which combine commercial spaces with residential and retail components. This trend is driven by the changing lifestyle preferences of customers, who are looking for convenience and accessibility in their daily lives. Mixed-use developments offer a one-stop solution for work, living, and entertainment, making them highly attractive to customers.
Local special circumstances: One of the unique aspects of the Commercial Real Estate market in Bangladesh is the limited availability of land in major cities. This scarcity of land has led to increased competition among developers and higher property prices. Developers are now focusing on maximizing the use of available land by constructing high-rise buildings and utilizing vertical space efficiently.
Underlying macroeconomic factors: The Commercial Real Estate market in Bangladesh is influenced by several macroeconomic factors. The country's strong economic growth, stable political environment, and favorable investment policies have attracted both domestic and foreign investors to the market. This influx of investment has led to increased construction activity and the development of new commercial properties. Additionally, the government's focus on infrastructure development, such as the construction of highways, bridges, and metro rail systems, has also contributed to the growth of the Commercial Real Estate market. These infrastructure projects improve connectivity and accessibility, making commercial properties in these areas more desirable. In conclusion, the Commercial Real Estate market in Bangladesh is witnessing growth and development due to customer preferences for modern office spaces, the increasing demand for commercial properties in major cities, the rise of mixed-use developments, the limited availability of land, and underlying macroeconomic factors such as strong economic growth and infrastructure development.
Data coverage:
Figures are based on value of commercial real estate.Modeling approach / Market size:
Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. 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 market, for example, exponential trend smoothing.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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