Construction costs in Bangladesh rose by 6.98 percent in August, making it costlier to implement both public and private construction projects, according to the Bangladesh Bureau of Statistics (BBS).
Overall sales of flats declined nearly 17 per cent in the last fiscal year of 2022-23 owing to economic uncertainties and a rise in prices of raw materials, according to realtors.
The demand for luxury apartments has remained unchanged while the sales of regular properties and initiation of new housing projects are in the slow lane amid the ongoing economic crisis, according to market players.
Real estate businesses have urged the government to reduce registration fees on apartment sales and cut taxes on registration of second hand or used flats to give a boost to the sector.