Real Estate in Bangladesh grows steadily due to various factors

(FASTNEWS | BANGLADESH) – Back to the rapid development of the country, rising demand for housing, expanding middle class, and increasing per-capita income helped Bangladesh’s real estate sector to grow steadily.

In 1970 there were only 5 registered Real Estate companies, while in 2013 there were about 800 companies but now there are 1073 registered companies engaged in this business out of which REHAB (Real Estate & Housing Association of Bangladesh) enlisted companies are 879.

A large number of unregistered companies are also playing a crucial role in the overall real estate business.

Total annual market revenues were Tk58, 000 crore in 2019 and the market grew at an average annual rate of 10% over the 2019-2020 period.

Now the concept of real estate is not only limited to developing apartments but also model cities, shopping malls, and major infrastructure.

The housing sector in Bangladesh contributes 7.96% of GDP.

In addition, linkage industries, such as MS bar, cement, brick, sand, ceramic tile, paint, and other fixtures and fittings, contributed about 12% to the national GDP.

Projection from the last population census says that the total housing demand was 0.8 million units in 2020 and will be 1.14 million units in 2030.

This sector directly adds to the government revenue (in the form of VAT, registration fee, utility fee, etc.) on an average of nearly BDT 5.0 billion.

Source: A24 News Agency