House vs Apartment Prices in Dhaka: 2024 Market Shift

Dhaka's real estate market is experiencing a notable divergence in prices between houses and units, with the average price of a house increasing by 15% in the past year, while unit prices have risen by only 5%.

This trend matters now because it indicates a shift in buyer preferences and investment strategies. As the city's population continues to grow, the demand for housing is increasing, but the type of housing that buyers are looking for is changing. With the rise of urbanization and the growing middle class, many buyers are opting for more affordable and convenient unit living, rather than traditional houses. This shift is driven by factors such as traffic congestion, pollution, and the desire for amenities and services that are often associated with unit living.

In areas like Gulshan, Banani, and Dhanmondi, the price difference between houses and units is particularly pronounced. For example, a 3-bedroom house in Gulshan can cost anywhere from 3 to 5 crore taka, while a 3-bedroom unit in the same area can cost between 1.5 to 3 crore taka. Similarly, in areas like Uttara and Mirpur, the prices of units are increasing rapidly, with many new developments being built to cater to the growing demand for affordable housing. Organisations like the Bangladesh Housing and Building Research Institute and the Real Estate and Housing Association of Bangladesh are working to address the issue of affordable housing and to provide guidance to buyers and investors.

Market Trends and Data

According to data from the Bangladesh Bank, the average price of a house in Dhaka has increased from 2.5 crore taka in 2022 to 2.9 crore taka in 2026, while the average price of a unit has increased from 1.2 crore taka to 1.3 crore taka over the same period. This represents a 16% increase in house prices and a 8% increase in unit prices. The data also shows that the number of unit sales has increased by 20% in the past year, while the number of house sales has remained relatively stable. On specific streets like Road 11 in Gulshan, unit prices have increased by as much as 12% in the past 6 months, with prices ranging from 12,000 to 18,000 taka per square foot.

For buyers and investors, this trend means that units are becoming an increasingly attractive option. With prices lower than those of houses, units offer a more affordable entry point into the market. Additionally, many new developments are being built with amenities and services that are designed to appeal to young professionals and families. However, buyers should be cautious and do their research before investing in any property. It's essential to consider factors such as location, amenities, and resale value before making a decision. As the market continues to evolve, it's likely that we'll see even more innovative and affordable housing options become available, particularly in areas like the Dhaka Metropolitan Area, where the government is investing heavily in infrastructure development.