Real Estate May Make a Comeback this year

 

The Real Estate and Housing Association of Bangladesh (Rehab) has arranged ‘Rehab Fair 2016’ from December 21 and will come to an end on December 25.

In the inauguration program of Rehab Fair 2016, Finance Minister, AMA Muhith said, ‘Govt. is keen to sit together with the landowners, real estate, and customer-three parties to resolve the recent difficulties of housing industry’.

 

‘Housing is a basic human right. To ensure that accommodation by 2021 is one of the election pledges of the government.’ he added. ‘The government’s own initiatives accompanying with this sector, as well as through discussions with various parties may solve the problem.’

 

Riding on recent political stability and price corrections, Bangladesh’s real estate sector may make a comeback this year, after three years of bad luck.

Since 2012, the once-burgeoning real estate sector has been in difficult times due to the intermittent political instability, squeezed bank loans, a bearish stock market, and a lack of adequate gas and electricity supplies.

This year, there is around 150 housing and real estate companies and more than 30 financial institutions and building material companies has taken their participation.

A many of visitors gathered to a real estate fair in the exposition’s days, reflecting their renewed interest in the housing sector that faced a go-slow movement in recent years.

On the first three days, hundreds of potential buyers visited stalls at the Rehab Fair 2016 at Bangabandhu International Conference Centre.

The Real Estate and Housing Association of Bangladesh has organised this five-day winter fair. Different companies are showcasing their products and projects in their stalls.

All the developers have received good responses from the buyers. The visitors, who were mostly from the lower-middle and middle-income groups, were scoping out offers for small apartments.

The realtors have offered discounts and gifts to attract buyers. Financial institutions that have lending operations in the housing sector has also taken part in the fair, presenting additional benefits for the visitors.

According to Participants, the potential buyers have taken project brochures and they hope they will contact them in future to make a purchase.

The developers are also showcasing various civic facilities, such as educational institutions, community centres, gymnasium, and mosques.

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