Guide to buying your first apartment in Dhaka

The Realest Guide to Buying Your First Apartment in Dhaka

Buying your first apartment in Dhaka? Exciting stuff! But also, kind of terrifying, right? Don’t worry—you’re not alone. Whether you’re eyeing that cozy studio in Mirpur or a luxury flat in Bashundha , this guide’s got your back. We’ll walk through the real estate jungle together so you don’t end up overpaying for a shoebox or signing papers you don’t understand.

Why Buy an Apartment in Dhaka Now?

Alright, let’s be real—Dhaka is booming. Skyscrapers are popping up like mushrooms after rain, and if you’re thinking long-term, investing now is a smart move. Prices in many areas are rising steadily, and owning property in a city like Dhaka gives you a solid financial cushion.

Besides, with so many people moving into the city for work and education, demand for quality housing is climbing. So if you’ve got the means, there’s no better time than now.

Understanding the Real Estate Scene in Dhaka

Dhaka’s real estate is a mixed bag—some neighborhoods are hot, others not so much. Here’s the lowdown:

• Gulshan & Banani: High-end, posh, and pricey. Think luxury living.

• Uttara: Well-planned with tons of apartments popping up. Great for families.

• Mirpur: More affordable and has seen a lot of new development lately.

• Bashundhara R/A: A balance between modern lifestyle and quiet zones.

Apartments vary from compact 2-bedroom flats to lavish duplexes. Depending on location and size, prices can range anywhere from BDT 50 lakh to several crores.

Planning Your Budget Wisely

So, how much do you actually need? That’s the million-taka question! First-time buyers often underestimate what it takes—not just the price tag on the apartment but all those sneaky extras.

Set a Realistic Price Range

Start with your total available budget. That includes savings, any loans you’re considering, and even family help if you’re lucky. Let’s say you have BDT 80 lakh in mind. Good start! But wait…

Here’s what might eat into that:

• Registration fees and taxes – These can be up to 10-12% of the flat price.

• Interior and furnishing costs – Even a basic setup can cost BDT 3–5 lakh.

• Legal and documentation fees – Lawyers don’t work for free!

• Moving expenses – Trucks, AC installations, and setting up WiFi—all add up.

Hidden Costs: Beware the Budget Busters

Apart from the basics, there are often some “oh-no” moments:

• Extra charges for parking spaces

• Utility connection costs

• Delays in possession which means you still pay rent elsewhere

• Maintenance or society charges upfront

Plan for these by setting aside at least 10-15% of your budget as a buffer.

Mortgage vs. Full Cash Purchase

If you’re thinking of taking a home loan, get pre-approval early. It gives you a clear budget and more negotiating power. Most banks in Bangladesh offer housing loans with interest rates ranging from 8-10% (depending on terms and bank policies).

Here’s a simple loan breakdown example:

Use EMI calculators online before jumping in, and make sure your monthly payments won’t break the bank.

Choosing the Right Location

Dhaka is a puzzle of neighborhoods, each with its vibe and quirks. Where you choose to live will shape your day-to-day life.

Top Factors to Consider

• Commute to work/school – Traffic in Dhaka isn’t getting better.

• Safety and security – Especially if you’re buying for your family.

• Nearby facilities – Groceries, hospitals, parks, schools, you name it.

• Future development – An area with upcoming roads, malls, or metros? Jackpot!

Hot Locations Right Now

If you’re on a budget, emerging zones like Jigatola, Badda, and Keraniganj may surprise you with what they offer for the price.

New Build or Ready Apartment?

You’ve probably noticed two common phrases in listings: “under construction” and “ready flat.” Each has its perks, and knowing what fits your needs is key.

Under Construction: Pros and Cons

Pros:

• Lower prices during early launch phases

• More flexibility to customize interiors

• Often newer materials and tech used

Cons:

• Possession timelines can stretch (delays are common!)

• You’re buying on trust—can’t see the final product

• Risk if the developer isn’t reputable

If you’re not in a hurry to move in and want something fresh, this could be ideal.

Ready Apartment: Pros and Cons

Pros:

• What you see is what you get

• Immediate move-in option

• Zero risk of construction delays

Cons:

• Generally costs more

• Limited customization

• May have minor wear if it’s been unoccupied for a while

This is perfect if you’re looking to move fast or want rental income immediately.

Legal Things You Can’t Skip

Paperwork may sound boring, but in real estate, it’s your superhero shield. Don’t rush or rely entirely on brokers.

Must-Have Legal Checks

1. Land Ownership Title – Is the land dispute-free and legally registered?

2. RAJUK/NHA Approvals – Is the building officially approved?

3. Mutation & Khatiyan Copy – Confirms property ownership and history.

4. Deed of Agreement – Ensure terms like handover date and penalties are included.

Hire a Lawyer!

Even if the developer is trustworthy, a lawyer can flag missing documents or shady clauses. It’s a small cost for long-term peace of mind.

Financing Options for First-Time Buyers

Buying a home isn’t cheap, but banks in Dhaka offer decent housing loans—especially to salaried professionals and first-time buyers.

How to Get a Loan

• Documents Needed: NID, TIN, salary slips, bank statements, property documents

• Processing Time: Typically 1-2 weeks

• Loan Tenure: Usually 10–25 years

Top Banks to Consider

Always compare EMIs, processing fees, and early repayment rules before signing the dotted line.

Picking a Reliable Developer or Broker

This step can make or break your home-buying journey. So don’t just go with the guy your cousin knows!

Tips for Choosing the Right One

• Check their previous projects: On time? Good quality?

• Read online reviews: Facebook groups, real estate forums

• Visit completed buildings: Talk to people living there

• Ask about warranties: Structural, plumbing, electrical

Avoid anyone pressuring you into quick decisions or offering “too-good-to-be-true” prices. Scams do exist, unfortunately.