Buying a Flat or a Plot in Dhaka

Buying a Flat or a Plot in Dhaka | Which one is better?

June 29, 2022

It is not an easy task to buy an apartment or a flat in Dhaka Bangladesh. You have to consider a lot of things before taking such a decision. We, at GLG Assets, would like to provide you with some tips on what you should look for when buying an apartment or a flat in Dhaka.

Please note that the following tips are based on our experience of working in the real estate industry in Dhaka for many years.

Dhaka is a metropolitan with high-priced apartments and land plots

Dhaka is the capital of Bangladesh and one of the most populous cities in the world. Dhaka is also a rapidly growing metropolis, with new apartments and land plots being developed all the time.

If you’re considering buying an apartment or land plot in Dhaka, there are a few things you should keep in mind. First, apartments and land plots in Dhaka are not cheap. Dhaka is one of the most expensive cities in the region due to its overcrowded population.

Second, the market for apartments and land plots is extremely competitive. There are always people looking to buy or sell, so you’ll need to be prepared to act fast if you find something you like.

Finally, make sure to do your research. Talk to friends who live in Dhaka, or consult with a real estate agent who can help you find the best deal.

Look for Apartments or Land plots – which is the better option on Your Budget

When it comes to buying apartments or land plots, there are a few things you need to consider.

Location: One of the most important factors is location. Make sure to consider the commute to work, schools, and other necessary destinations.

Size: The size of the apartment or plot of land will also be a major factor in your decision. Make sure to think about how much space you will need and what kind of facilities you would like nearby. For a small family of 4 members (father, mother, and two kids), a 960 sqft apartment is enough.

Budget: It’s important to stay within your budget when buying property. Consider how much you are able to spend and look for apartments or plots that fit that price range. For a small apartment of 1000 sqft, you need to allocate a budget of minimum 70 lakhs bdt in major housing locations inside Dhaka.

Type of property: Another thing to consider is the type of property you want. Do you want an apartment, a flat, or a land plot? each has its own benefits and drawbacks.

Apartments provide instant ROI for the owner as he or she can rent out in quite a stipulated time and earn a monthly handsome amount. Maintenance of the apartments can be also done from the incoming rents.

On the other hand, plots offer long-term investment opportunities for the owner. It can be given as a joint venture to land developers and in the course, a one-time down payment can be taken with future perks of getting ready-made apartments.

Things to Consider Before Investing in Real Estate property in Dhaka?

Before investing in a property, it is important to consider a few things. Here are some of the key factors to think about:

  1. Location: The location of the property is key – make sure to research which areas are growing and have the potential for development. It’s also important to consider things like commute time and local amenities.
  2. Infrastructure: The infrastructure of the area is another important factor to consider – check to see if there are good roads, transport links, schools, hospitals, and other amenities nearby.
  3. Size and Condition: It’s important to consider the size and condition of the property before making an investment. Make sure you have a good idea of what you would want to be done to the property (if anything) and that it is the right size for your needs.
  4. Price: Don’t forget to consider the price of the property – is it budget-friendly and affordable yet still offers good value for money.

Price and affordability of owning an apartment/flat

Before investing in a property, it is important to consider a few things. Here are some of the key factors to think about:

When it comes to price and affordability, it’s important to think about your budget and what you can afford. It’s also important to remember that the price of an apartment/flat can vary depending on its location in Dhaka City.

For example, if you’re looking for an apartment in a prime location near Banani or Gulshan, the price is going to be higher than if you’re looking in a common neighborhood like Rayerbazar or Dhanmondi. However, it’s important to remember that even in a more expensive area, there are still options that fit within your budget.

Pros and cons of owning a land plot

There are a few things to consider when weighing the pros and cons of owning a land plot.

The main Pros of owning a land plot are the security of tenure and the option to build or renovate as you please. You also have the freedom to use the land for any legal purpose you choose, which is a valuable asset in a country like Bangladesh where property prices are on the rise.

On the other hand, one of the main Cons of owning a land plot is that it can be difficult to obtain finance for, as banks are often reluctant to give loans against property that is not yet built. You also need to be prepared to deal with all aspects of land ownership, such as paying taxes, maintaining the property, and dealing with any legal disputes that may arise.

Final Thoughts -Which Is the Best Option for You – An Apartment or Land Plots?

If you are still unsure of what to do, here are some final thoughts to help you make a decision.

If you are looking for long-term investment and want to live in your own home, a land plot is the best option for you. It will give you more freedom and flexibility to design and build your home exactly the way you want it. You will also have the benefit of rising property values over time.

If you are looking for short-term investment and want to live in an already-built apartment or flat, an apartment or flat is the best option for you. You can find a wide variety of apartments and flats in all price ranges, and they are often easier and faster to rent or sell than land plots.

Conclusion

So, here is the conclusion we derive when buying an apartment, flat, or land plot in Dhaka Bangladesh. Firstly, you need to decide on your budget and what you can afford. You also need to think about the location of the property – is it in a good area? And finally, you need to research the different properties available and compare prices.

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