The country's realtors could not meet huge demand for flats in the capital as they were facing different challenges, industry people told a programme on Thursday.
They also said the latest Detailed Area Plan (DAP) 2022-2035 has been one of the major setbacks for the sector which significantly limits heights of new buildings to be constructed.
In consequence, flats' prices and house rents in the capital have increased causing serious trouble for lower and middle-income families.
The leaders of Real Estate and Housing Association of Bangladesh (REHAB) also aired a misgiving that the housing crisis would rise in future unless the DAP is amended considering the need.
They came up with the observations while announcing a five-day REHAB fair at a press conference at CIRDAP conference centre in the city's Topkhana Road area.
The major event of the country's real estate sector, REHAB Fair 2024 will begin on Monday at Bangabandhu International Conference Center (BICC) in Agargaon area.
REHAB President Md. Wahiduzzaman, Sr. Vice-President Liakat Ali Bhuiyan, Vice-President Mohammed Akter Biswas, Vice-President Abdur Razzaque and Director Labib Billah were present at the press conference, among others.
Addressing the journalists, REHAB president Wahiduzzaman highlighted the different challenges faced by the real estate sector.
Terming the latest DAP a discriminatory one, REHAB president said they were vocal while the government introduced the DAP 2022-2035 two years ago, as they feared it would create a housing crisis.
"Middle-income families' dream of dwelling in their own flat would not be fulfilled, " he said.
According to the new DAP, heights of the buildings in the capital would decline due to curtailed floor area ratio (FAR), he said referring to his statements issued two years ago.
Our predictions became visible now and everybody knew to what extent house rent and flats' prices had increased, he said.
Now the realtors demanded the amendment to the DAP and implementation of Building Construction Rules, 2008, he said.
Highlighting the REHAB Fair 2024, he said the fair was expected to draw a huge crowd as they couldn't organize the event in the last year due to national election then.
"We expect the fair would play a crucial role to make a matchmaking platform among sellers and buyers and also create such an opportunity to meet a huge number of company representatives at one place," he said.
According to the organizers, some 220 stalls representing real estate, home loan provider, building materials manufacturer and other allied stakeholders will showcase their products and services.
The fair will continue till December 27 allowing visitors to enter between 10.00am to 9.00pm except the opening day.
On the first day it will be accessible after the formal opening of the fair on Monday 3.00pm.
Ticket price of the fair has been fixed at Tk 50 for one-time and Tk 100 for multiple entry per person.
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