Find the best flat for sale in Dhaka with BestBari
Welcome to BestBari’s The Buyer’s Guide to Guide to Flat Sales in Dhaka, written by our team of property specialists to help potential home buyers navigate throughout all of the noise and clutter and find the perfect flat for sale in Dhaka.
Dhaka is one of the fast-growing cities in the South Asia sub-continent and the prices and demand for flat sales in Dhaka are increasing frequently given the city’s significant population growth and increase in the rising level of income. Buying a flat in Dhaka is likely to be one of your biggest purchases in your life so it’s essential to know what are the top factors that influence Dhaka flat prices.
Buying a flat in Dhaka can also be a challenging and daunting experience, especially as the competition to find a good-quality flats in Dhaka is getting more fierce and high-quality property listings are becoming scarcer in supply. On behalf of BestBari, we hope you enjoy reading the Buyer’s Guide to Flat Sales in Dhaka and find it useful to find your dream flat for sale in Dhaka.
Step 1. Research the Dhaka property market
Purchasing a flat in Dhaka is a huge commitment, so you want to make sure you’ve thought it through carefully. Your journey to buy a flat in Dhaka must start with diligent research and planning.
The first step is to decide on what type of property you want and in what location. For example, how many bedrooms and bathrooms, what are your targeted suburbs and how many secure car parking spaces will you need? Once you get an idea of these specific requirements, research various Dhaka flats for sale in your desired locations and note the prices to set yourself a realistic budget.
If you are serious about buying a flat in Dhaka, it’s important to keep up to date with current market conditions and be aware trends in prices and changes in regulations. Take note of the trend of the average Dhaka flat price when researching your ideal location. For example you may have noticed that property prices in areas close to the metro rail in Dhaka city have been appreciating in value due to the convenient commuter network to commercial hubs in Dhaka.
As the old saying goes, it’s all about location, location, location! Location is the most significant factor that influences the property prices in Dhaka. The location and demographics of the neighbourhood plays a very important role in determining the desirability and price of a property.
Properties that are in close proximity to good schools, shopping centres, cafes and restaurants tend to attract more buyers as have higher demand, which then drives up the prices. The status of the suburb and demographics of the local population plays an important part, for example are there mostly professionals, expatriates and retirees living there. You may like to read our high-quality suburb guides to research and compare, which suburb in Dhaka best suits your needs and budget.
Step 2. Determine your budget and home loan
Once you have done your research and have a plan of what you are looking for in the Dhaka property market, determine your budget and home loan requirements. Start by setting a realistic budget for your desired Dhaka flat sale.
Are you going to purchase your Dhaka apartment in cash or finance the purchase using a home loan? If you’re looking to finance your property purchase with a home loan, you should speak with a private bank as soon as possible and get an idea of your borrowing capacity according to your income and savings.
While banks love to see that you have equity in your home or other investment properties they will require you to prove your income to borrow funds. Make sure to also budget for all the costs that come with owning an investment property, interest on your loan, home insurance and property management fees.
It really does pay to do your research, especially when it comes to selecting which bank to borrow from for your home loan. If you are looking to fund your property with a home loan, make sure to get your pre-approval from a bank as soon as possible. The pre-approval will give you a good indication of what your maximum budget can be if you’re looking to borrow. The pre-approval will consist of the bank assessing your income and expenses and determine the capacity and maximum amount you can borrow.
Always compare your interest rate and processing fees before opting in for a home loan in Bangladesh. Also, be aware of the hidden charge. There are many cases where banks have misinformed people about home loans and charged borrowed substantial hidden costs. Home loans are available from large local and international banks such as HSBC, DBH, BRAC, IFIC, DBBL and Bank One. It is also worth checking out if you qualify to get a loan from the Bangladesh House Building Finance Corporation.
Thanks to BestBari has done the hard work and research for you to find the very best interest rates, discounts, processing times across different banks and financial institutions to help finance your ideal flat sale in Dhaka. BestBari has exclusive partnerships with banks and financial institutions and we can offer you competitive home loans to make your dream home into a reality. Please contact our friendly home loan specialists and feel free to use our free home loan calculator tool.
Once you know your budget, you are ready to move to the next stage, which is knowing what you want for your flat in Dhaka.
Step 3. Research and compare Dhaka flat sales
Now that you know your budget, the location and your specific requirements to buy a flat in Dhaka, start researching and comparing different Dhaka flat sales that are advertised. You can make use of BestBari’s featured Dhaka flats for sale using our handy search and filter features. We have hand selected the very best property listings in Dhaka to focus on the highest-quality flats for sale, unlike other property website in Bangladesh.
Not every property is created the same and the conditions may different substantially among different properties in Dhaka, which then influences the prices. The features and amenities of a property are important since they affect the overall lifestyle and appeal to live in a certain property. For example, does the property have lifts, easy car parking, on-staff security, concierge and access to gym and pool?
A property’s overall condition, features and styling plays an important role in determining its appeal and value. For example, avoid properties with water leakage, insect infestation and dampening in the walls. It is suggested to contact a specialist to inspect the condition of the home before purchasing it.
Furthermore, certain styles of homes can get better prices that others, which is why the styling and presentation is very important. Please read BestBari’s article on Top Tips for Interior Design in Bangladesh to get ideas on how to best design the interior of your property.
BestBari has a wide access to a trusted network of high-quality real-estate relationship managers and property developers who can help you purchase your dream property in Dhaka for a discounted price within your budget. Click this link to be connected to one of our trusted property consultants free of charge.
Step 4. Monitor economic conditions in the Dhaka property market
Although economic and market conditions are outside your control, they do significantly impact the demand and prices of apartments in Dhaka. If there is higher economic growth in a certain areas, there becomes more businesses, jobs, income and therefore the desirability to live in that area, which then increase the demand and prices for homes.
With the current economic growth rate, the property market in Dhaka is likely to do well in the near future. If you are interested to learn more about the economic and market conditions in relation properties in Dhaka, please read BestBari’s article on Why Invest in Bangladesh Property?
The interest rate is also an important factor that directly affects property prices since a lot of home buyers have home loans. Low interest rates mean it’s easier for property buyers to borrow, which increases the demand and prices for property. However, higher interest rates make it more difficult to borrow, which lowers demand and property prices.
All of these three major factors significantly impact the value of Dhaka apartment prices.
This is why it’s important to constantly research and monitor the Dhaka property market and be aware of price trends in different Dhaka suburbs. If you are interested to learn more about market conditions, please read our article on What Influences Apartment Prices in Dhaka.
Step 5. Negotiate and buy
Now you have done all the hard work – you have determined your budget, specific apartment requirements, done your market research, visited several home inspections and now you’re finally ready to negotiate and buy the ideal Dhaka flat, which will bring you happiness when living in the apartment.
When it comes to purchasing property in Dhaka everything is negotiable and if you don’t ask you don’t get. Consider engaging a property buyer’s agent from BestBari by contacting us to help you get the best Dhaka flat prices with our trusted network of real-estate agents.
Once your dream Dhaka flat sale is identified and you have negotiated a fair and reasonable price the last and final step is handling the legal paperwork and administration. Thanks to BestBari we can help you cut through the complex and detail jargon and paperwork with our property legal specialists and hold your hand throughout the entire end-to-end process. Please contact us and one of our friendly property relationship managers will contact you to directly to set up an appointment with a legal specialist to assist throughout the process.
On behalf of BestBari we wish you the best of luck with your purchasing your dream flat for sale in Dhaka. We hope you found the Buyer’s Guide to Flat Sales in Dhaka useful and practical. If you enjoyed this guide please visit our News and Articles page, including our article Why Invest Real Estate in Bangladesh. We wish you the very best and hope you find your perfect flat for sale in Dhaka!