REHAB fair focuses on mid-size apartments
As apartment prices shot up in recent times, customers are now opting for small and medium size flats at the annual fair of Real Estate and Housing Association of Bangladesh (REHAB) in Dhaka.
The five-day show began Tuesday at Bangladesh-China Friendship Conference Centre participated by 187 REHAB members and five financial institutions.
Developers said although apartments of different sizes are available, the customers are looking for flats ranging from 800 square feet to 1,200 sq ft.
"Middle class customers prefer flats of Tk 40 lakh to Tk 50 lakh," said Mahmud Hossain, sales manager of Building for Future Ltd.
"Within this price range the customers could buy big flats around two years back, but now they can't afford such big apartments at the same price," he said.
The company is offering flats ranging from 800 sq ft to 1,300 sq ft along with big apartments, he said.
Non-resident Bangladeshis are the single largest customer group of flats in the country, said an official of Sagufta NM Housing Ltd.
The company is offering apartments from 800 sq ft to 1,200 sq ft to attract middle class buyers.
"The expatriates who have been abroad for a long time order for comparatively expensive flats," said Ahmedur Rob, senior executive (Marketing and Sales) of Sagufta.
Uttara is the most preferred location for comparatively low-cost flats while apartments at Baridhara are most expensive, builders said.
"Customers think that flat prices at Uttara are lower compared to those in other places, but it's not always true as higher demand has increased flat prices there also," said M Rowshonuzzaman, senior executive (Sales) of Navana Real Estate Ltd.
According to sector people, per sq ft flat price ranges from Tk 4,000 to Tk 5,500 at Uttara, while it is between Tk 8,000 and Tk 15,000 at Gulshan, from Tk 6,000 to Tk 10,000 at Dhanmondi, Tk 3,000 to 5,000 at Mohammadpur, Tk 7,000 to Tk 8,000 at Lalmatia, Tk 3,500 to Tk 4,000 in old Dhaka, and between Tk 3,000 and Tk 5,000 at Mirpur.
However flat prices vary depending on location and road communication, they said.
"Prices of flats almost doubled in the last two years due to hike in prices of construction materials, changing the shape and size of apartments," said HM Delowar, senior executive (Marketing and Sales) of Rupayan Housing Estate Ltd.
At the fair companies are showcasing flat, plot, commercial space and shopping corner.
Some companies are also offering discounts at the show, which is open from 10am to 8pm with a Tk 50 entry ticket.
A Tk 100 entry pass will allow a person to visit the fair for the entire duration.
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