Bangladesh Country Report 2023

The Bangladesh Country Report 2023 includes key trends and insights on the Bangladesh residential, commercial, retail, hotel and bare land markets.

The report includes:

• Bangladesh economic outlook and forecasts
• Industry expert opinions
• Bangladesh real estate market outlook and forecasts

Bangladesh is a nation defined by its unique identity and unwavering commitment to achieving results through sheer hard work. It is an emerging nation defined by its resolve and ‘bring it on’ attitude to any issue or challenge. The way in which the mega city of Dhaka has evolved over recent years, and indeed continues to find ways to keep evolving and expanding is a case in point. Where real estate is concerned, the landscape is dominated by very strong local developers.

However, increasingly, foreign interest in residential apartments and other market segments is gathering. It is only a matter of time before the large international brands join the party. However, inevitably, as the market scrambles to meet burgeoning demand for housing and other real estate assets, the knowledge landscape remains neglected. No one actually seems to know how large the real estate market is or how fast it is actually growing. Investors are also seeking greater clarity on their returns. In the words of one leading developer in Dhaka; “We as an organisation would love to have more data. Getting data is what we struggle with in Bangladesh. Proper research is very hard to find.”

Fortunately, the analysts of the report love data. They make it their business to know everything that happens in the market, from new supply in the form of apartment or commercial building developments to changes in absorption/occupancy. Changes in the price of real estate assets are another crucial parameter that helps measure demand. The performance of the macro economy, international supply chain concerns, exchange rate volatility, remittances, banking services and products, laws on diaspora and foreign investment, along with a multitude of other factors, combine to give the macro environment that everyone has to operate in.

This data is often available from secondary sources, but many hundreds of hours of hard work are needed to connect the dots and assess how the macro environment impacts the real estate industry. Then there is primary research that is often quintessentially qualitative. This type of analysis delves into the demands and value proposition of customers, buyers, leasees, etc. The list is long. The information needs are great, and they make their contribution to developing knowledge that will benefit local developers, investors, and buyers. They also hope it will ease the way for foreign investors looking at this most promising of emerging markets in Asia to navigate their journey.

The report is the product of over 11 months of research. The analysts would like to extend their sincere appreciation to the numerous individuals for their unwavering support in compiling this report. They hope this report will be of use to anyone and everyone in real estate or thinking of entering. Investors, developers, academics, professionals, and property hunters, this is for them.