House prices fall by 11 percent: Lamudi | 2017-09-15 |

House prices fall by 11 percent: Lamudi

Staff Correspondent     15 September, 2017 12:00 AM printer

Housing prices on average dropped by 11 percent while in some areas almost 30 percent, said a market research done by world renowned online real estate platform Lamudi.


“The time to buy property in Bangladesh is now”, Managing Director Anne Hermans revealed the findings at a programme held at a city restaurant on Thursday.


While presenting her findings she said that stabilization of prices for property however in various parts of the city like Dhanmondi, Banani and Bashundhara for the last 3 quarters, is an indication of an equilibrium in the industry.


She also said that the Uttara area has become most lucrative for housing consumers with the number of inquiries taking an all-time high at the end of 2016.


“Finding the right property can be one of the most difficult things to do in a city like Dhaka. Using an online marketplace like can speed up the process of finding a good match, by comparison, a wealth of information and a good overview of the current market offer.”, she said. Anne Hermans discussed various economic trends, possibilities for the real estate sector and the outlook for next couple of years.


When characterizing the current state of housing sector, Hermans drew on her experiences with experts, mortgage lenders, and property seekers as well as from data


She said that Bangladesh is Asia’s 2nd fastest growing economy and at this pace around 2 million Bangladeshis join the ranks of middle-class and affluent consumers every year.


“Dhaka is expected to have 35 million citizens by 2035, and is in need for secondary cities to take on some of the pressure to develop. The findings shows that cities like Chittagong, Sylhet, Rajshahi, Comilla, Mymensingh, and Khulna are emerging, however a new harbor city like Payra could really be a game changer”, she added.