Selling a flat in Dhaka can be an exhilarating and difficult process. The real estate market in the city is very competitive, with thousands of flats for sale in various neighborhoods, including Gulshan, Dhanmondi, Bashundhara, and Uttara. One of the most important factors in determining the speed with which your flat will sell is going to be pricing it competitively.
You will lose prospective buyers if you price your flat too high. If you price your flat too low, you may lose out on the fair price you should be getting from a buyer. The goal is to get the price right in terms of your flat being of interest to buyers, while giving you enough of a return to make selling your flat worth your time.
At BestBari, we have helped hundreds of property owners successfully list and sell their flats. Here are our professional tips for pricing your flat competitively in Dhaka’s vibrant real estate market.
1. Research the Current Market
The very first step in pricing your flat, is looking into the ongoing trends in the property market.
Recent sales: Check for how many flats comparable to yours have sold in the past 6-12 months in your area.
Location comparison: Property varies greatly by location. For example, a flat in Gulshan will naturally fetch more than a flat in Mirpur.
Consider demand: Flats located near schools, hospitals, or business districts typically generate more demand from prospective buyers.
BestBari’s listings for property make it easy to compare pricing in different areas within Dhaka.
2. Know the Value of Your Location
In Dhaka, location is key. Buyers are willing to pay a premium for flats in established good locations.
Prime Locations: Gulshan, Banani, Dhanmondi, and Baridhara are usually expensive.
Growing Areas: Bashundhara and Uttara are becoming popular with middle-class families because of the prices and modern fixtures and fittings.
Accessibility: Flats in close proximity to metro stations, major roads, and shopping centers are usually the most desirable.
If your flat is in a good area or a developing area of Dhaka, then you may be able to price a little higher than the areas with less access.
3. Consider the Size and Layout
Your flat’s size will have a direct effect on its pricing, but layout is just as important.
Square Footage: The price of larger flats will generally be higher, but you might find a lower price-per-square-foot the larger you go.
Number of Bedrooms: In general, a 3-bedroom flat is easier to sell than a 1-bedroom flat.
Useable Layout: Open floor plans and thoughtfully designed spaces can warrant higher prices.
Hint: Buyers in Dhaka typically gravitate to flats of 1,200–1,800 sq. ft. because this gives a good ratio of space to price.
4. Assess Building Facilities
Building facilities make a big difference in pricing. Flats in a building that has better amenities tend to sell more easily.
Basic Amenities: Elevator, parking, security guard
Upgraded Amenities: Backup generator, CCTV coverage, community hall, rooftop garden, gym, or pool
Maintenance and Management: A well-managed building with a professional maintenance staff stands a better chance of a higher resale value.
If your flat is in a gated community with modern amenities, you can demand a higher price compared to a stand-alone apartment that is only basic.
5. Factor in the Age and Condition of the Property
Purchasers in Dhaka are wary of older flats, particularly if the building appears to be poorly maintained. New flats can be priced above or below the average, evidence of demand or high market values in the neighborhood to justify a higher price or if located in a high demand area.
Resale flats, if your flat is older than 10 years, plan to make price adjustments based on wear and tear unless the flat has been well maintained overall. Your decision is based on subjective and objective value comparisons.
Your flat’s appeal may increase if you’ve made some renovations, painting, updated the kitchen, or repaired the bathroom. A well maintained and/or renovated flat will likely provide you with a better asking price or price point to negotiate.
6. Avoid Overpricing
In Dhaka, many sellers feel they need to inflate their asking price, assuming buyers will negotiate down. The buyers of today are well informed, research the many listings online before deciding to book an appointment, and are willing to put in financing or cash offers when it is a reasonable asking price. If you are asking too much your buyer pool will be limited!
If homes stay too long on the market, the buyers will assume there is something wrong with the property.
When the price is fair, homes sell quickly at offers that are often better than homes that wait for fair price offers.
7. Get a Professional Valuation
If you’re uncertain, you may want to seek the assistance of a professional property valuation. Property experts will assess:
Market trends
Value of the location
Size, condition and features of the flat
Comparable sales data
At BestBari, we connect sellers with reputable property professionals with the expertise to help set the appropriate asking price.
8. Keep Negotiation in Mind
When pricing your flat, always leave a little room for negotiation. Buyers in Dhaka expect some flexibility.
- Set your asking price slightly higher than your minimum acceptable price.
- Be prepared with justifications—highlight location, amenities, and renovations to defend your price.
9. Market Your Flat Strategically
If buyers don’t see your flat, it will not sell, even at the right price. Use professional photography, a thorough description, and include important selling features.
Show off schools, hospitals, or shopping facilities in the area.
Include premium facilities in the building.
Acknowledge the building’s recent upgrades or renovations.
Marketing your flat on BestBari.com gives you access to serious buyers specifically looking to buy a flat in Dhaka.
Final Thoughts
Setting a competitive price for your flat in Dhaka is a science and an art. You will need to balance your price expectations against the realities of the current market conditions and buyers’ appetites. By undertaking some research into prices for similar properties, considering the nature of the flat’s location, amenities, etc., and avoiding the pitfalls of common errors, e.g., overpricing the property, you will maximize the likelihood of selling your flat quickly and at fair price.
At BestBari, we will simplify for you the process of selling your flat by connecting you with serious buyers and providing you with guidance on the property market in Dhaka.
Are you ready to sell your flat? List your property today on BestBari.com and reach the right buyers faster.
