Rising Need for Affordable Housing is an Investment Prospect

Quality housing is one of the fundamental amenities required to sustain life and to own a home of your own ascertains economic security.

Not only do real estate provide use with physical safety, but also it is often the most valuable asset for an average citizen in Dhaka. 

As the demand for real estate increases, the value of the asset increases as well. Hence, any smart individual would want to own a home of their own. 

But Can You Afford It? Well, the price of real estate is increasing rapidly each year and is often not affordable to most of the citizens. Now let's learn more about rising need for affordable housing-

Need for Affordable Housing

As the economic middle class keep growing in size, the market must ensure that appropriate and affordable real estate options are made available for them. For instance, as Dhaka becomes more and more densely populated, apartment buildings are gradually replacing suburban style houses or bungalows. 

The city is also shifting to the creation of suburban residential areas just by the outskirts of the city. The government is also undertaking projects to facilitate affordable housing. 

Rising of Middle Class

Dhaka is one of the most densely populated cities in the world and it is the business center of the country. Therefore, any fresh graduate with an ambition or any person for upward mobility migrates to Dhaka in search of economic ascendance. 

These educated migrants eventually constitute a sizable middle class population that is gradually getting larger and larger. Hence, as Dhaka gets more and more congested, the demand for real estate is increasing as well.

Mismatch of Demand & Supply

Even though the demand for real estate is increasing at a rapid rate, the supply of real estate isn’t. Consumers demand about 100,000 units each year, whereas only 25,000 new apartments are registered. This demand-supply mismatch causes an increase in price for real estate. Currently, the prices of apartments are more than hundred times the monthly average rental cost to afford the same apartment. 

Investment Opportunities in Affordable Housing

The reorientation of financing options, economic evolution and the urbanisation are beginning to drive the previously stable real estate sector into a sector full of potential, making it an attractive investment choice. On top of that, our government measures to improve the industry are captivating. 

Moreover the rising income of the middle class section is driving the real estate industry to build suitable & affordable property for them. By proper strategy & documents it's also possible to lower the cost of construction. Hence we can say indeed investing in an affordable housing plan is a good strategy

As more & more people come to Dhaka, the rent of houses keep increasing. However, the real estate market keeps excluding the lower and lower-middle class section of our society. Therefore, our government should take necessary measures to ensure affordable housing options for people from all economic conditions for the greater good of our people.

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