Flats Are Available, Buyers Are Hard to Find 

I have been working as a real estate broker in Dhaka for 15 years. I have seen the housing market change many times. But the current situation is different.

There are flats in the market. Developers are building new projects in different areas. But finding buyers has become difficult.

The main problem is affordability.

People want to buy flats, but many cannot arrange the money. Their household expenses have increased, while their income has not increased at the same rate. After paying for food, children’s education, transport, rent and other daily needs, there is often very little money left for a flat.

I see this problem among middle-income buyers almost every day.
Earlier, buyers mainly asked about the location, size and quality of a flat. Now their first questions are often about payment.

They ask me, “How much do I have to pay for booking? How long will the instalment continue? How much do I have to pay every month?”

This has changed the way developers are selling flats. Many developers are now trying to reduce the initial booking money. If a buyer cannot arrange a large amount at once, a smaller booking payment can make it easier for that person to consider buying a flat.

Longer instalment facilities are also becoming important. Buyers want more time to pay the remaining amount because arranging a large sum within a short period is difficult for most middle-income families.

Some developers are also offering customised payment plans. The payment schedule can be discussed according to the buyer’s financial ability. Discounts are another strategy I am seeing in the market. Developers are offering different types of discounts and special deals to attract customers.

I am also seeing more interest in smaller flats.

But even a small flat can become expensive if the price per square foot is high.

Location is still important. Buyers want to live near schools, markets, hospitals and transport facilities. But now they have to balance these needs with their financial capacity.

There are buyers in the market, but many of them are cautious. They are taking more time to compare prices and payment terms before making a decision.

They also want to know whether the project has proper approval, whether the land documents are clear, when the flat will be handed over and what the conditions of the agreement are. For me, this is the biggest change in the market. Developers have flats to sell, and people need homes. But there is a gap between the price of the flats and what many buyers can afford.

That is why lower booking money, longer instalments, discounts, smaller units and flexible payment plans are becoming important.

If developers can make payment terms more realistic for middle-income buyers, more people may be able to enter the housing market.

The market does not lack people who want flats. What it lacks is enough people who can afford to buy them under the existing payment conditions.