The Real Estate and Housing Association of Bangladesh (REHAB) concluded its housing fair in Chattogram, reporting a significant decline of 55% in sales and advanced bookings compared to the previous year.
The four-day exhibition generated Tk 108 crore in sales and advanced bookings for flats, falling short of the target of Tk 150 crore and last year’s total of Tk 238 crore.
Md Abdul Karim Chowdhury, Chairman of REHAB’s Chattogram Regional Committee, told The Daily Star, “The fair received bookings and sales for more than 100 apartments, commercial spaces, and approximately 10 plots.”
Chowdhury attributed the challenges faced by Bangladesh’s real estate sector to the steep increase in construction material prices caused by the Russia-Ukraine war’s extensive impact. Despite the ongoing economic downturn, around 10,500 people visited the fair, exceeding expectations.