Real Estate Sector of Bangladesh
History of Real Estate in Bangladesh
The urbanization of Bangladesh is quite similar to that in Latin America; formerly called “over-urbanization” in 1950s, this is a situation where a rapid rate of urbanization does not lead to corresponding growth in industry and economy but results in a shift of people from low-productivity rural agricultural employment to low-productivity urban employment or underemployment. The major cities of Bangladesh exhibits the clearest symptoms of over-urbanization, where an imbalance between rapid population growth and insufficient employment opportunities led to an increase in poverty and the mushrooming of slum and squatter settlements (Valladares, 2002).
In Bangladesh, the problem of urbanization is further aggravated by limited land supply in urban areas, lower land utilization and the lack of proper planning and land use policy. The ever-increasing urban population is creating an increasing demand for shelter. Bangladesh has one of the lowest land-person ratios in the world. The situation is further worsened every year through an irrevocable reduction of per capita share of land for housing, as a result of continuing population growth. Acknowledging the importance of housing, which is one of the five basis needs incorporated in the constitution of Bangladesh, the government is compelled constitutionally to play a vital role in securing housing rights.
Industry Profile
Dhaka City, born during the Mughal Empire and grown with the British rule, is expanding rapidly. From the beginning of the 20th Century, its growth and latter development is marked with sheer lack of proper and far-reaching planning. The impact is now being felt at the end of the century. Dhaka City is undergoing terrific growth phase throughout the last two decades. While there are so many real estate developers in the market, there are also very few of them who have maintained the quality, safety and customer preference. It is customary in the country that
The urbanization of Bangladesh is quite similar to that in Latin America; formerly called “over-urbanization” in 1950s, this is a situation where a rapid rate of urbanization does not lead to corresponding growth in industry and economy but results in a shift of people from low-productivity rural agricultural employment to low-productivity urban employment or underemployment. The major cities of Bangladesh exhibits the clearest symptoms of over-urbanization, where an imbalance between rapid population growth and insufficient employment opportunities led to an increase in poverty and the mushrooming of slum and squatter settlements (Valladares, 2002).
In Bangladesh, the problem of urbanization is further aggravated by limited land supply in urban areas, lower land utilization and the lack of proper planning and land use policy. The ever-increasing urban population is creating an increasing demand for shelter. Bangladesh has one of the lowest land-person ratios in the world. The situation is further worsened every year through an irrevocable reduction of per capita share of land for housing, as a result of continuing population growth. Acknowledging the importance of housing, which is one of the five basis needs incorporated in the constitution of Bangladesh, the government is compelled constitutionally to play a vital role in securing housing rights.
Industry Profile
Dhaka City, born during the Mughal Empire and grown with the British rule, is expanding rapidly. From the beginning of the 20th Century, its growth and latter development is marked with sheer lack of proper and far-reaching planning. The impact is now being felt at the end of the century. Dhaka City is undergoing terrific growth phase throughout the last two decades. While there are so many real estate developers in the market, there are also very few of them who have maintained the quality, safety and customer preference. It is customary in the country that
References: Md. Tarikul Islam, 2008, Real Estate Market in Bangladesh: Development and Current Practice Center for Policy Dialogue (CPD), 2003, Strengthening the Role of Private Sector Housing in Bangladesh Economy: The Policy Challenges Naimul Karim, 2012, The Real Estate Industry: Facing A Slippery Slump Page | 10