Both realtors and buyers have fallen into an uncomfortable situation due to the sudden increase in raw material prices amid the ongoing war in Ukraine, strain on foreign currency reserves, and rising inflation in the country.
Real estate companies in Bangladesh are cautiously taking up new projects as the war in Ukraine, the strain on foreign currency reserves, the dollar shortage, runaway inflation and higher construction costs have cemented worries that sales of flats might slow in the coming months.
Realtors yesterday demanded the continuation of unquestioned amnesty for using black money to buy property even though holders of undisclosed income showed little interest to legalise their assets through such investments in the outgoing fiscal year.