People try to stabilize with time. That is why they are willing to invest in property as a permanent residence or for investment purposes.
But in the Bangladeshi context, buying and selling any property is a time-consuming and complicated process.
To get a suitable property, there are several things to consider — like finding the right property, negotiation, legal documents, ownership change, registration, and many more. This is where “digitalization” was a necessity to bring ease.
Government and private organizations played a key role
Due to the digitization of the real estate sector, many initial steps can now be done at home. Local real estate portals and initiatives like online property fairs and REHAB fairs have made online property trading a lot easier these days.
Besides, the government has achieved some breakthroughs –during the pandemic, including easy investment opportunities in the real estate sector, the interest rate on home loans was reduced to 9%, land transfer tax was reduced from 2% to 1%, and stamp duty fee was cut in half, reduced from 3% to 1.5%.
Bikroy.com initiates tech-based solutions for consumers
Bikroy.com is a multinational company operating in Bangladesh for the last 10 years.
Bikroy.com is also one of the pioneers to bring the digital trading system to Bangladesh, providing complete real estate solutions to their customers.
One of the goals of Bikroy Property is to make it easy for customers to search for any type of property online. The users will find almost all types of properties according to their budget and preferences.
On the other hand, buyers can use filter options like location, property size, condition, price, etc to find their desired properties easily.
Bikroy Property is currently working with almost 400 members across the country. Through their
posted advertisements, buyers can easily find various properties, including flat sales, flat rent, commercial property rent, land, etc.
Not only members, but any individual can also post advertisements on Bikroy with the nec essary information and sell their properties.
Inside Dhaka, there are some popular localities for buying and selling properties. Data from Bikroy shows that Mirpur, Bashundhara, and Uttara hold almost 30% of the entire property listing.
Chittagong, Rajshahi, and Sylhet are the top cities to hold most property advertisements outside of Dhaka.
Bangladesh is a middle-class economy and it reflects in the real estate market too. Properties costing between Tk5,000-6,000 per sqft hold the highest percentage (selling) according to the data.
Also, people mostly consider buying new flats as the number shows 96% of ads are for new flats whereas the remaining 4% are for old flats on Bikroy.com.
Tech adoption has become a necessity
With long experience in modern and growing marketplace technology as well as providing online trading solutions for small and medium-sized businesses, Bikroy.com is relentlessly contributing to bringing digitalization into the commercial landscape of Bangladesh.
