Dhaka
Dhaka, which is the largest as well as capital city of Bangladesh, is among the most densely populated cities in the world. Having a population of over 12 million people, it is ranked number nine in the world in terms of size. It is also the economic, industrial, financial, commercial and the political centre of Bangladesh because it is located at the centre of the country. The best medical facilities and educational institutions are also located in this city which has a climate which is tropical wet and dry. There are also modern forms of transport and communication including high household and household internet connection and international airports in the city.
Owning property in Dhaka
Subject to Bangladeshi property laws, foreigners can own land in Dhaka but are advised to consult a Bangladeshi property expert for advice on the requirements and special regulations on the acquisition of property by non-Bangladeshi nationals. The country’s estate companies can offer all the information you need on acquisition, getting a bank loan, location of the property, mortgage regulations and on a Bangladeshi property lawyers. The popular residential areas in Dhaka include Banani, Gulshan and Baridhara and the Price of 2 Bed Flat/Apartment ranges fromTk 2,000 and Tk3,500 per month. Luxurious Price of 3/4 bed villa/house and larger apartments rent ranges between Tk 4,000 and Tk 7,000 per month.
Monthly rents are very high and are increasing annually
There has been a tremendous increase in the rent rates for Dhaka city properties in the recent past because there are no well established tenant protection bodies and laws. The rents have been revised upwards by tenants every year. The average rent for the middle income class is Tk 3,000 and Tk 7,000 per month. For the high income earners, rent ranges between Tk 20,000 and Tk 70,000. The monthly rent far all types of property increases every year and most tenants find themselves in awkward positions in which they cannot afford to pay rent which they were previously capable of.
The Land prices have sky rocketed
There has also been a tremendous and unprecedented increase in the land prices in Dhaka. The rate of increase has been far much above the general rate of inflation and the cost other goods and assets. The skyrocketing of the land prices is due to the high demand of the same by wealthy property owners who increase and fix rents freely without any control mechanisms. The land transfer laws and procedures are cumbersome and complex and most of the real estate developers do not prefer building middle income houses. The interest rates of mortgages and other home ownership plans are very high and most of the Dhaka residents are tenants because they cannot afford buying land and building their own homes.
Local News
Blasts, arrests during Bangladesh strike - New York Daily News
Published 16:03, 17th May GMT
Dhaka to introduce digital signature - Gulf Times
Published 21:16, 17th May GMT
Dhaka's slums estimated to have a density of 2.7m people psm - Financial Express Bangladesh
Published 18:29, 17th May GMT
Taxi relief on Dhaka roads not in sight - Daily Star Online
Published 18:09, 17th May GMT
Fashion is our livelihood: Rina Dhaka - Times of India
Published 18:33, 17th May GMT
Ishwardi-Dhaka rail link restored - Bangladesh News 24 hours
Published 09:05, 17th May GMT
Grameen Bank businesses face investigation - gulfnews.com
Published 21:13, 17th May GMT
What will Hillary Clinton's diplomatic legacy be? - USA TODAY
Published 21:38, 17th May GMT
- retrieved via Google News