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Residential Real Estate Leases - Bangladesh

Bangladesh

The Residential Real Estate Leases market market in Bangladesh is expected to witness significant growth in the coming years.
According to projections, the revenue of this market is estimated to reach an impressive US$10.05bn by 2024.
Among the various segments within this market, House Leases dominate with a projected market volume of US$6.39bn in the same year.
Furthermore, the market is anticipated to display a steady annual growth rate of 7.20% from 2024 to 2029.
This growth trajectory is expected to result in a substantial increase in market volume, reaching US$14.23bn by 2029.
The residential real estate leasing industry in Bangladesh is poised for robust expansion in the coming years, presenting lucrative opportunities for investors and stakeholders.
The demand for residential real estate leases in Bangladesh has surged due to rapid urbanization and a growing middle class.

Key regions: Japan, China, Australia, Germany, United States

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Analyst Opinion

The Residential Real Estate Leases market in Bangladesh is experiencing significant growth and development.

Customer preferences: Customers in Bangladesh are increasingly opting for residential real estate leases due to a variety of factors. Firstly, many individuals and families prefer the flexibility and convenience that leasing offers, as it allows them to move to different locations easily without the commitment of purchasing a property. Additionally, leasing provides a more affordable option for those who cannot afford to buy a home outright.

Trends in the market: One major trend in the residential real estate leases market in Bangladesh is the increasing demand for apartments and condominiums. This can be attributed to the rapid urbanization and population growth in the country, leading to a shortage of available land for single-family homes. Apartments and condominiums offer a more efficient use of limited space, making them a popular choice for both developers and customers. Another trend in the market is the rise of gated communities and housing complexes. These developments provide a range of amenities and services, such as security, recreational facilities, and maintenance, which are attractive to customers seeking a higher quality of life. Gated communities also offer a sense of community and exclusivity, which appeals to certain segments of the population.

Local special circumstances: Bangladesh is a densely populated country with limited land availability, especially in urban areas. This scarcity of land has led to higher property prices, making it more difficult for individuals to purchase homes. As a result, many people are turning to residential real estate leases as a more affordable alternative. Additionally, the rapid urbanization and increasing number of job opportunities in cities have also contributed to the growing demand for residential leases.

Underlying macroeconomic factors: Several macroeconomic factors are driving the development of the residential real estate leases market in Bangladesh. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and a growing middle class. This has created a larger pool of potential customers who can afford to lease residential properties. Furthermore, the government has implemented policies and initiatives to promote the real estate sector, including tax incentives for developers and investors. These measures have attracted both domestic and foreign investment in the market, leading to the construction of new residential projects and the expansion of existing ones. In conclusion, the residential real estate leases market in Bangladesh is growing due to customer preferences for flexibility and affordability, as well as underlying macroeconomic factors such as economic growth and government support. The trends of increased demand for apartments and gated communities reflect the unique circumstances of land scarcity and urbanization in the country. As the market continues to develop, it is expected to provide more options and opportunities for both customers and investors.

Methodology

Data coverage:

Figures are based on total and average revenue of residential apartment leases.

Modeling approach:

Market size is determined by a bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, 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:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war considered at a country-specific level.