Industry

Chattogram prefers smaller 3-bedroom homes: Study

Bayazid Bostami is the most searched area to live in Chattogram with 13.32 percent of all property searches being made for that area, a data analysis shows.

 

Khulshi ranks second among the most searched locations in Chattogram with 11.97 percent searches and Double Mooring comes third with 6.37 percent searches.

 

The research data was collected via the number of users, listings added and queries made at bproperty.com, both online and offline, over the past six months, from January to June.

 

Bproperty, Bangladesh’s only property solutions provider, has come up with an in-depth trend analysis that shows the current demand for real estate in Chattogram.

 

Further analysis indicates that a significant portion of people in Chattogram prefer smaller homes, with Bproperty receiving requests as high as 42.84 percent for properties between 1,000 and 1,500 square feet.

 

Apartments less than 1,000 square feet come second with 38.75 percent of all searches. Flats ranging from 1,500 to 2,000 square feet get the third most searches with 15.34 percent.

 

In terms of rooms, people of Chattogram have a high demand for three-bedroom homes.

 

About 45.80 percent of property requests made at Bproperty were for three bedrooms.

 

When it comes to average price for houses people of Chattogram wishes to buy, Bproperty’s analysis have shown that about 22.01 percent of all incoming property purchase requests had a budget between Tk 62 lakh and Tk 72 lakh.

 

The second most common budget range (19.38 percent) was between Tk 42 and Tk 52 lakh. And to the round of the top three price ranges, 15.77 percent of property searches were in the range of Tk 72 lakh and Tk 82 lakh.

 

Areas such as North Kattali, Pachlaish and Jamal Khan are seeing a growing demand for property purchases.

 

Kotwali, West Sholosohor, North Pahartali popular with renters

 

The analysis of data also gives an idea of the average rent that people of Chattogram are willing to pay.

 

For property renting, 30.26 percent of all searches are in between Tk 10,000 to Tk 15,000. Another 21.81 percent of searches were for rent between Tk 15,000 to Tk 20,000 and 19.97 percent of searches were for renting houses less than Tk 10,000.

 

Areas such as Kotwali Thana, West Sholosohor and North Pahartali are growing rapidly in terms of popularity for renting homes.

 

Speaking on the initiative, Bproperty CEO Mark Nosworthy said the opening of their Chattogram marketplace last year was a signal of intent on their part that they wanted to put more focus on the Chattogram market.

 

“The real-estate industry here has been growing rapidly for a while now,” Nosworthy said.

 

He said on average, they receive over a thousand verified property requests a month. “This trend analysis gives us a more in-depth idea regarding the demand for properties in Chattogram. We are hopeful that we will be able to serve our customers even better from now onwards.”

 

Source: United News of Bangladesh