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8 February, 2019 10:15:40 AM

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Medium-sized flats in great demand

REHAB Fair-2019
Sharif Ahmed, Dhaka
Medium-sized flats in great demand
Visitors gather information about apartment prices from a stall at the five-day REHAB housing fair at Bangabandhu International Conference Center in the capital on Wednesday. independent photo

Most realtors at the ongoing REHAB Fair-2019 are offering medium-sized flats of 1,200–1,600 square feet within the price range of Tk. 80 lakh to Tk.

1.5 crore, depending on the location, to keep apartments within the reach of the middle class. The fair, organised by the Real Estate and Housing Association of Bangladesh (REHAB), has played an important role in overcoming the recession that had struck the housing sector in 2008, according to realtors.

The five-day fair started at the Bangabandhu International Conference Centre (BICC) in the capital on Wednesday. Realtors say that they have been offering different rates to visitors at the fair to attract buyers. Not only are the customers given credit facilities, banks and financial institutions are also providing them with additional benefits.

Officials of some realty firms say the demand for medium-sized flats is at its peak. They also say that the sale of such flats has increased by 5–10 per cent in the last one--and-a-half years. However, small flats are also in demand.

The assistant consultant of Building Technology and Ideas (BTI) brokerage, Mehadi Hassan Fysal, yesterday told The Independent that the BTI has come up with three categories: standard flats (those priced low); classic flats (those that are medium-sized); and premium flats (those that are luxury-plus).

Classic flats, each sized 1,000–2,000 square feet, are most in demand at this fair, said Fysal. All types of ‘luxury plus’ flats are located in Gulshan, Banani and Dhanmondi areas, he added.

When asked about the price, Fysal said that the price of per square feet was between Tk. 13,000 and Tk. 22,000 in Dhanmondi. In North Gulshan, it could go up to Tk. 18,000-30,000 per square feet, he added. “We usually take 10 per cent down payment for spot booking at the fair. But it totally depends on the project’s status,” he said.

Replying to a question, Fysal said: “We provide facilities such as free kitchen cabinets and free interior design services at this fair in case of spot booking."

Fysal also said that the BTI Brokerage Ltd, a subsidiary of the BTI, had been created as a platform for individuals as well as for those realtors that lack the proficiency to monetise their assets or make the most of their investment. “We act as an intermediary between sellers and buyers of real estate,” he explained.

“We typically receive a commission for successfully matching a seller’s real estate with a buyer,” hesaid.

The sales manager of Shamsul Alamin Real Estate Ltd, Imrul Haq, told The Independent: “Most buyers at the fair looked for medium-sized flats between 1,400 and 1,800 square feet.”

When asked about the price, Imrul said that the price is Tk 22,000 per square feet in the Baridhara area. The price in Gulshan is Tk. 15,000, followed by Tk. 5,000 and Tk. 10,000 in Mirpur and Aftab Nagar respectively, he added.

“So far, we have completed 10 projects in Dhaka city and eight more are currently under construction,” he said.

“Two of our ongoing projects are Apon Heights in Shyamoli and Alamin Angur in Gulshan,” he added.

Talking about the facilities offered by them, Imrul said: “If the project is new and would take time to complete, we give easy EMI facilities to the customer.”

Tropical Homes Limited, a housing estate organisation, is offering a car for a flat worth Tk. 12 crore in Gulshan, said a sales representative of the company.

BProperty.com Limited, an online real estate marketplace, has participated in the fair for buying, selling and renting property.

HM

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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