An overview of the residential property market in Dhaka - Bangladesh. Q2 2011
The EMC RE report looks mainly at the upmarket and mainly ex-pat housing market, ie: apartments, villas and land. As such the areas mainly covered are Gulshan North, also known as Gulshan 2, and Baridhara, located to the north-east of the centre of Dhaka.
The principal trend across Dhaka is the continuing loss of villa properties as owners are tempted to redevelop them as apartments, for which there has been insatiable investor appetite.
Developers in Dhaka do not buy land, and the local arrangement is based on joint venture with the developer paying an upfront premium for the right to develop and then
providing the land owner with a percentage of the completed development.
With a lack of villa developments a number of the embassies have constructed their Ambassador's Residences on their Chancery sites.