Flat prices may go up 30-40pc next year
Staff Reporter :
The realtors on Sunday hinted that the prices of apartments will go up by 30 to 40 per cent next year due to the implementation of new DAP and the price hike of construction raw materials.
Facilitating the buyers, the flats will be sold at reasonable prices in a five-day long housing fair to be started from December 21 in the capital, the leaders of the Real Estate and Housing Association of Bangladesh (REHAB) said.
They said it while speaking at a press conference at Pan Pacific Sonargaon hotel in the capital on Sunday marking REHAB fair.
The winter fair organised by the REHAB is set to begin on Wednesday to showcase flats, plots and other real estate and housing products.
Speaking at the conference, REHAB First Vice-President Kamal Mahmud said, “The price of flats may go up by 30-40 per cent next year due to the implementation of new DAP and the price hike of constructionmaterials.
“So, buyers can get a chance to purchase apartments at reasonable prices in this year’s fair,” he said.
Kamal also claimed, “Most of the buildings in main Dhaka will be 4 to 5 storied due to the reduction in floor area ratio (FAR) announced in the new Detailed Area Plan (DAP). It will also create imbalance between demand and supply.”
“As a result, the housing crisis will be more intensified and the flat prices will go up significantly in future,” he added.
Kamal further alleged, “Our REHAB members have not been able
to reach any agreement with the land owners in last four months after the issuance of the gazette of the new DAP. No new plan has been passed. Many are working on old projects. These will create crisis in housing and the prices will be increased.”
The REHAB Vice President Sohel Rana said, “A total of 180 stalls will be set up in this fair. Of them, three are diamond pavilions, seven gold sponsors, 22 co-sponsors, 16 building material companies, and 13 financial institutions.”
Local Government, Rural Development and Cooperatives Minister Tazul Islam is scheduled to take part in the inaugural ceremony of the fair as special guest, he said.
Besides, the building materials suppliers and financial institutions will also take part in the fair, he added.
REHAB first started hosting the fair in 2001 and since then handed over more than 2.25 lakh apartments from the annual event.
Flats worth Tk 198 crore, plots worth Tk 125 crore, and commercial space worth Tk 78.38 crore were sold and booked at the REHAB Fair-2021. Around 200 stalls were set up at the fair, and over 19,000 people visited the event last year.
