Chattogram, the second-largest city of Bangladesh, has immense potential in the real estate sector due to the availability of a myriad number of flats that can be used for commercial or residential purposes. From under-construction buildings to modern apartments, a plethora of properties is available in this city to meet the demand of the buyers and renters.
The mesmerizing aspect of Chattogram which attracts the buyers and renters the most to reside here is its abundance of hypnotic natural beauty. Moreover, the physical infrastructure and connectivity within this city is very well-planned and is playing a significant role as a positive catalyst to ramp up the real estate sector of Chattogram.
With the passage of time, the ideal time considered by the general people to build houses has changed drastically. Previously, the general trend for building a house among the people was that they felt an urgency to build their homes after retiring from their profession. But a new trend has begun to emerge, especially among the young people who are aged around thirty.
People are preferring to build their homes after a few years into their job and marriage since they can save up some money while also availing the opportunity to take home a home loan from the banks which can be repaid in installments.
Moreover, government employees can get a loan of 7.5 million BDT for constructing a home for a lower interest rate than the market average, which also plays a significant role in the bloom of the real estate sector. In Chattogram, the individuals who want to lead a luxurious life prefer to stay in the Khulshi residential area, which is enriched with a tranquil environment. The area is near to many noteworthy schools, colleges and especially Foy's Lake.
Renting or buying a house here will give you the opportunity to experience the best features of the city. Like the Khulshi Residential area, the Panchlaish Residential area, Sugandha Residential area, and Nizam Road residential area are also sought out by people who prefer to live a bit more luxuriously.
On the other hand, low and middle-income people prefer to live in the Hallishahar Residential area as they can buy or rent a house at an affordable price in this area. According to the Bproperty database, the only real estate marketplace in Bangladesh, tenants can rent a house of 1170 Square feet for around 15000 BDT in the Hallishahar Residential area.
And they can also rent a home of 1020 square feet for only 9000 BDT in West Bakalia. Also, some people choose Jamal Khan Residential area as it is near to the Press Club and also a famous place for renowned diagnostic centers. Thus, incorporating the middle-class people in the real estate sector will play a substantial role in unleashing its potentiality.
Though there are residential flats, commercial apartments, and duplexes available in this city, the problem occurs when the question of trust arises at the time of buying those assets. The buyers cannot trust the developers due to their ill reputation of handing over flats in due time to their clients.
So, the first step should be taken to beef up the trust at the time of purchasing, selling and renting flats. Moreover, both the buyers and sellers should be aided to avoid legal complexities to buy and sell houses for the betterment of the real estate sector.
Chattogram, the commercial capital and the biggest seaport city in the country, is also well known for its business-friendly environment. If you are an owner of commercial companies and want to transfer or expand your business to Chattogram, you will also find innumerable commercial properties available within this city. There are many places of attraction in Chattogram including Patenga Sea Beach, facilitated with beach-bike, speed boat, horse-ride, kites, and many more entertainments.
The scenic beauty of Foy's Lake along with BBQ nights, cultural programs, boat rides on the lake provides individuals the opportunity to replenish their hearts. There is also the shrine of BayezidBostami Masjid Complex. Chattogram is also blessed with the country's lone ethnology museum displaying the lifestyles and heritages of 37 ethnic groups of Bangladesh.
Chattogram is famous for the conspicuous presence of diversified culture, ethnicity, and religious aspects. The people of Chattogram live here in great harmony which attracts property buyers and renters to live here for which the demand for property is continuously hiking up in Chattogram.
That is why Bproperty has committed to making real estate-related activities easier for buyers, sellers, and renters through the use of technology. Anyone using their services will be able to access almost an infinite amount of data on the Chattogram real estate sector.
People can look for properties to rent, buy, sell or even seek out legal advice, get documents vetted with the aid of Bproperty. Using technology and the expert assistance of the dedicated sales, rental and legal teams of Bproperty, people can now look up and make informed decisions regarding properties in Chattogram.
Besides keeping pace with the contemporary world, leveraging technology, being transparent and trustworthy should be ensured so that the real estate sector can bloom properly and contribute to the robust socio-economic growth of Bangladesh.
The writer is a freelancer