ARE STUDIO APARTMENTS THE NEXT BIG THING? | The Daily Star
12:00 AM, October 06, 2020 / LAST MODIFIED: 12:00 AM, October 06, 2020

ARE STUDIO APARTMENTS THE NEXT BIG THING?

On the outskirts of Bashundhara R/A, Rangs Courtyard brews the community concept and studio apartment trend in today's urban landscape. Here high-rise apartments are the most recurring structures occupying Dhaka's skyline. The Courtyard residential space is a perfect place to hole up for nuclear and single-parent families. The project has a pointing brick exterior finish, rooftop sky garden, built-in gymnasium, an open-air swimming pool, beautiful landscape, and kids' play zone with the idea of allowing care and affection to foster within the bricks and boundaries of the Courtyard. The cherry on top is the easy entry and exit through Pragati Sarani without facing its routine and familiar traffic.

For decades as a nation, we Bangladeshis have always fancied plush, independent houses. We always viewed them as a symbol of aristocracy and high-rank lineage with a deep admiration for the lifestyle that came along. However, big independent houses are becoming a rare sight in this city, and smaller apartments have grasped the industry for their convenience factor, over the years. Studio apartments are a recent addition to the Bangladeshi market, which is currently seeing a significant uprise in demand considering the country's real estate market. It often focuses on addressing the top tier belonging to the slanted vertical of the consumer psyche pyramid.

What exactly is a studio apartment?

Studio apartments comprise of a single large room, including a bedroom, living room, dining lounge, compact kitchenette, and attached restrooms.  The square feet of a studio apartment can range from 250 sqft to somewhere 800+ sqft. These studio apartments are ideal living spaces for single city dwellers, senior citizens, small families, frequent travellers and expats, and even first-time investors.

What do the numbers say?

Studies suggest that the rate of urbanisation in recent years in Bangladesh has been at 1.9 %, which is the highest in South Asia. It is safe to say that the annual housing demand lingers somewhere around 120,000 units. In contrast, the yearly supply caters approximately up to 25,000 units. With rising urbanisation, inflation makes affording homes more challenging to the lower and middle-income groups and below. As big real estate names continue to be more inclined towards luxury, studio apartments are a giant leap, waiting to emerge as the game-changer.

Studio apartments are the fastest moving products in the west in terms of real estate, even in neighbouring countries like India, Singapore, China and Hong Kong.

The scope on ROI & Way forward with Rangs Properties:

Looking at studio apartments from an investor's perspective, the return is quite profitable as small spaces get rented out the fastest. For smaller ticket prices with the expected sky-high demand, it also makes studio apartments a good deal for the first-time buyers and those who prefer to own rather than renting spaces.

Consideration the upcoming paradigm shift in the market, Rangs designed its very first fully furnished functionally designed studio apartments at Courtyard. Situated at Bashundhara Link road, adjacent to the renowned Evercare Hospital (previously Apollo Hospital), Rangs Courtyard boasts a strategic location that enjoys excellent connectivity with superstores, educational institutions, restaurants, banks, and many more. Located just 2 minutes from Evercare Hospital and International School Dhaka (ISD), Rangs Courtyard is in close proximity to North South University, Jamuna Future Park, United Hospital, and areas like Gulshan 2, Pragati Sarani and Baridhara vicinity.

First of its kind, these are individually styled branded studio apartments with inviting lounge spaces and assisted living services that include resident doctor, grocery delivery, housekeeping, laundry services, etc.; that is another way to dig deeper to offer a detailed personalised experience for a more customer-centric approach.

For more details, visit: courtyard.rangsproperties.com

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