The arbitrary rise in house rents across Bangladesh is a growing concern, particularly for lower- and middle-income households who are increasingly burdened by the escalating costs of living. The latest report from the Bangladesh Bureau of Statistics (BBS) says more people are being forced to rent smaller homes, sublets, or shared accommodations, sacrificing not only space but also their overall quality of life.
According to the BBS, the rate of sublet tenants in Bangladesh has doubled over the past two years. In 2023, 4.1 per cent of tenants were living in sublets, up from 2.4 per cent in 2021. This trend is most pronounced in urban areas, where the rate of sublet residents climbed to 6.0 per cent in 2023, a significant increase from previous years. Even rural areas are not immune, with sublet tenancy rising to 3.48 per cent in 2023 from 1.85 per cent in 2021.
Meanwhile, the prevalence of single households is decreasing. In urban centres, the percentage of single households fell from 97 per cent in 2022 to 92.6 per cent in 2023, a worrying decline that reflects the growing lack of affordability of housing. Dhaka, in particular, has seen house rents rise by nearly 6 per cent during the last fiscal year, exacerbating the already difficult situation for many city dwellers.
The impact of these rising rents is far-reaching. As the Centre for Policy Dialogue (CPD) Research Director Dr KG Moazzem notes, the pressure of higher rents is forcing many people to compromise on their food intake, prioritising rent over nutrition. This shift in spending is not merely a matter of convenience; it is a direct threat to the health and well-being of thousands of citizens.
As inflation and food prices continue to rise, the situation is likely to worsen. If this trend persists, more people will be forced into substandard living conditions, sharing spaces that were never meant to accommodate multiple households. This not only degrades living standards but also undermines the very fabric of our society.
It is imperative that policymakers take immediate action to address this crisis. Rent control measures, incentives for affordable housing development, and stronger tenant protections are essential to prevent further deterioration of living standards. The rising cost of housing should not come at the expense of the health and dignity of the people.
Rehman Zia
Rayerbag, Dhaka
Rising house rent affects quality of life
FE Team | Published: August 31, 2024 20:05:56
Rising house rent affects quality of life
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