|dc.description.abstract||Like any alternative country within the world, the housing sector plays important roles each within the context of the economy of Bangladesh and serving the basic right of shelter. Apart from providing physical shelter, housing might have important impact on the lives of the dwellers in terms of skills improvement, financial gain generation, inflated security, health, sureness and human dignity. Bangladesh, like several alternative developing countries, faces associate acute shortage of reasonable housing each within the urban and rural areas. Moreover, housing affordability is being eroded by poor land administration policies, which have resulted in very high land prices that make urban housing prohibitive for lower-income groups. Also, there's no active secondary marketplace for land, chiefly owing to the high transfer taxes associated an uninterrupted long-run increase in land costs. In spite of these, this sector has tough wide growth in past few decades.
With a rising population and increasing housing demand, flat culture has fully grown up in capital of Bangladesh sharply. Apartments were 1st introduced by the formal non-public developers in early 80s to the housing history of capital of Bangladesh. It 1st appeared in capital of Bangladesh close to Central Road and after wards town tough a boom in flat development all told residential areas as well as Paribagh, Maghbazar, Siddeshwari, Shantinagar, Dhanmondi, Mirpur, Banani, old DOHS, new DOHS, Gulshan and Baridhara, to calls imply many.
During the last decade, the overall volume of land, Renting and Business service sector increased every year which implies a positive growth in the sector every year. But, compared to overall value growth, this sector expanded at a slower rate. That is why in overall value the contribution of this sector encompasses a downward trend. Investment in the real estate sector has seen an increase in the past few years. In Bangladesh, GDP-investment ratio rose to 30.27% in FY 2016-17. This is an increase from 29.65% in the previous year. Around 10% of total remittance is being used to purchase lands and flats. On the other hand, 77.78% of the investment from foreign remittance is being used for reconstruction purposes of flats or buildings.
Through the analysis of economic and social sustainability and problems and prospects of this sector it was found that this sector is a good investment.
This was just one of the aspects of the growth of this industry. If we look from the bird’s eye view, we can see that this industry is still taking shape and there is fast-growing middle class. This large chunk of the population looks for affordable solutions to everything, thanks to increasing GDP per capita. Such economic conditions are termed as ‘emerging markets’ where industries are yet to take proper shape.||en_US