Published: Friday, March 29, 2013

Internet makes property purchase easy

As internet usage proliferates in Bangladesh, more and more people are using web portals to buy and sell properties.

As a result, both new and old apartments have found a new marketplace in the digital world.

Within the first two months of 2013, 7865 property ads were posted for sale on Bikroy.com alone.

In Dhaka, the average price of apartments is Tk 11,8,30,243, while the average price of apartments in rest of Bangladesh is Tk 71, 50,722, according to the ad posts received by Bikroy.com.

The Bikroy.com study also reveals the average price of properties those are posted for sell in Dhaka is 65 per cent more expensive than the rest of the Bangladesh.

And Banani is the most expensive area in Dhaka followed by Baridhara, Gulshan and Dhanmondi respectively.

“The purpose of such data analysis is that we want the people of Bangladesh to clearly know what their options are out there in the market,” said Eshita Sharmin, marketing manager of Bikroy.com.

“For example, prospective buyers who are interested in buying an apartment in Dhaka city but are on a budget may like to know that Mohammedur, Kalyanpur and Mirpur show the reasonable average prices at only Tk 56,56,129, Tk 53,38,267 and Tk 36,75,681 respectively, and may be able to purchase a home for as low as Tk 18,00,000.”

The analysis also shows that Dhaka is not the only city that has seen a growth in online marketing for properties.

Chittagong shows an average price of apartments to be Tk 93, 24,303. The most expensive areas in Chittagong seem to be Kotowali and Panchlaish, where average prices for apartments are Tk 84, 00,000 and Tk 82, 43,571 respectively.

The most economic prices for apartments may be found in Agrabad and Chawkbazar.

Between October 2012, when Bikroy.com was officially launched, and February 2013, there has been a rise in the monthly count of property ads on the site by 151 per cent, where the average prices of apartments increased by 10 per cent.

“There was once a time when people used to go from neighborhood to neighborhood looking for apartments in a rickshaw. But traffic being what they are today, and transportation costs getting higher each day, people can neither afford the time nor the expense of travelling to find that perfect home,” Sharmin explains the jump in online advertising.