Real Estate in Bangladesh
Last updated on Jan 04, 2024
Summary: An expat looking to buy a home in Bangladesh should start by researching the local real estate market. They should look for reputable real estate agents and brokers who can help them find the right property. It is also important to research the local laws and regulations regarding foreign ownership of property in Bangladesh. Foreigners are allowed to own property in Bangladesh, but there are certain restrictions. For example, foreigners are not allowed to own agricultural land or land that is used for industrial purposes. Additionally, foreigners are not allowed to own more than four residential properties in Bangladesh. Houses in Bangladesh typically include basic amenities such as running water, electricity, and sanitation. Many homes also have air conditioning, internet access, and other modern amenities. Depending on the location and price range, some homes may also include a swimming pool, garden, or other luxury features.
How do I find a place to live in Bangladesh?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Basically my company decided. All expats lived in Gulshan area so we went for same. Baridhara seemed nicer but it was more expensive too. Now they have started construction on high buildings everywhere in both Gulshan and Baridhara and it is quite tough to live in these areas. In a few years these areas will not be so called residential anymore. My company used an agent to see apartments," said one person in Dhaka.
"One of the best ways to find a place to live in Bangladesh is to use online resources such as rental websites, classifieds, and real estate agents. You can also ask friends and family for recommendations. Additionally, you can look for rental postings in local newspapers and magazines. Once you have identified a few potential places to live, it is important to visit the area in person to get a better sense of the neighborhood and to ensure that the property is suitable for your needs," remarked one foreigner who made the move to Bangladesh.
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Expats interested in International Health Insurance should take a minute to get a quote from our trusted expat health insurance partner, CIGNA.
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What is a typical expat home or apartment like in Bangladesh?
"Expat homes and apartments in Bangladesh tend to be modern and comfortable, with air conditioning, internet access, and other amenities. Many expats choose to live in gated communities, which offer a greater sense of security and privacy. Expat homes and apartments often come with a variety of amenities, such as swimming pools, gyms, and other recreational facilities. Expats also have access to a wide range of international restaurants, shopping malls, and other entertainment options," remarked one member in Bangladesh.
Expats interested in International Health Insurance should take a minute to get a quote from our trusted expat health insurance partner, CIGNA.
Expats interested in International Health Insurance should take a minute to get a quote from our trusted expat health insurance partner, CIGNA.
What is the average cost of housing in Bangladesh?
If you are thinking about moving to Bangladesh, cost of living in probably a key consideration. Expats commented about the cost of housing:
"Higher. It is difficult to compare, but for a decent apt in Bucharest it will be a few hundreds euro. In Dhaka, it is thousands," said one expat who made the move to Dhaka.
"The cost of housing in Bangladesh varies depending on the location and type of housing. Generally, housing in Bangladesh is relatively affordable compared to other countries, with the average cost of a basic apartment ranging from around $50 to $200 per month. Additionally, there are many options for low-cost housing, such as shared housing and dormitories, which can be found for as little as $10 to $20 per month," explained one foreigner living in Bangladesh.
Should I buy or rent a home in Bangladesh?
If you have not spent a lot of time in Bangladesh, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Bangladesh can be a great investment, as the country is experiencing rapid economic growth. However, it is important to consider the cost of living in the area, as well as the availability of housing. Renting a home in Bangladesh can be a more affordable option, as it allows you to live in the area without the long-term commitment of buying a home. Additionally, renting can provide more flexibility if you are unsure of how long you will be living in the area. Ultimately, the decision to buy or rent a home in Bangladesh should be based on your individual needs and financial situation," said one expat in Bangladesh.
What do I need to know when buying property in Bangladesh?
When we asked expats what advice they would give a foreigner before buying a property in Bangladesh, they said:
"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to hire a qualified lawyer to help with the legal aspects of the purchase. 3. It is important to understand the local laws and regulations regarding property ownership and taxation. 4. It is important to obtain a title deed for the property, which will provide proof of ownership. 5. It is important to obtain a valuation of the property before making a purchase. 6. It is important to understand the local customs and culture when buying property in Bangladesh. 7. It is important to be aware of any restrictions or limitations on the use of the property. 8. It is important to be aware of any potential environmental hazards associated with the property. 9. It is important to be aware of any potential risks associated with the purchase, such as flooding or other natural disasters. 10. It is important to be aware of any potential political or economic instability in the area," said one foreigner living in Bangladesh.
Are foreigners allowed to own property in Bangladesh?
When we asked expats what advice they would give a foreigner before buying a property in Bangladesh, they said...
"Foreigners are allowed to own property in Bangladesh, but there are certain restrictions in place. Non-resident foreigners are not allowed to purchase land or property in Bangladesh, but they can lease land or property for up to 99 years. Resident foreigners are allowed to purchase land or property, but they must obtain permission from the Bangladesh government before doing so. Additionally, foreign companies are allowed to purchase land or property in Bangladesh, but they must obtain permission from the Bangladesh Board of Investment," said one foreigner living in Bangladesh.
What appliances are typically included in a rental?
We asked foreigners in Bangladesh what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Renting a home in Bangladesh typically includes functional appliances such as a refrigerator, washing machine, electric stove, and oven. Other basic amenities such as furniture and an air conditioner may also be included in the rental property depending on the agreement between the renter and the landlord," said one foreigner living in Bangladesh.
Additional Information about Searching for a Home in Bangladesh:
We asked foreigners in Bangladesh what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Bangladesh by looking online for real estate listings, contacting local real estate agents, and asking for recommendations from other expats who have already settled in the country. Additionally, expats can look for housing options in local newspapers and magazines, as well as on social media platforms such as Facebook and Twitter," said one person in Bangladesh.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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