2nd wave of coronavirus halted real estate sales


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2nd wave of coronavirus halted real estate sales

The country’s housing sector came to a standstill in May when the second wave of corona infections escalated.
Industry sources said number of flat sale has been reduced significantly in the last three months. Many buyers are even struggling to pay in installments. However, the construction work was not stopped even for a day to explain the flat within the deadline. The rise in rod-cement prices has been a blow to death.
Alamgir Shamsul Alamin, president of the Real Estate and Housing Association of Bangladesh (REHAB), told , “Our construction work is going on. Since I kept the office closed, the flat was not sold at that time.
He said, “Everything is closed and there is a loss. New flats are not for sale. Thousands of crores of Taka are invested here. There is a matter of VAT and tax on that. Costs often outweigh sales. As time goes on, our expenses are increasing. As a result, the developers will suffer huge losses due to natural causes, ”he said.
Liaquat Ali Bhuiyan, chairman of Brick Works Development Limited, told “The housing sector is in a slump due to the lockdown. We were given some opportunities in the last budget. Our trade was going well. Almost everyone has sold flats. However, due to the lockdown, the sale is now completely closed. Its effects have begun to read. After two-three months, everyone will understand it. ‘
Herb Holding Limited Managing Director. Ahkam Ullah Imam Khan told that those who have money do not want to take anyone out now. There is no question of buying a flat in Corona. Buyers are also not paying the installment. They said, how to give in Corona? But our construction has not stopped.
“Everything is closed, but construction is still going on,” he said. We could not stop the work because of the commitment of the buyers to explain the flat within the deadline and with the contractor-worker. When the work stops, the workers will have trouble with their families. However, the construction work is going on in accordance with the hygiene rules.
Although the sale of flats has been stopped due to Corona infection, almost all the developers have continued the construction. There is no way but to keep the work going on to make the workers understand the bread and butter and the flat to the buyer within the deadline. However, the lack of new sales at this time and the delay in paying the installments to the buyers has become a bigger concern than the increase in the price of construction materials including rods and cement.
Turning to the market, it is learned that the prices of construction materials have skyrocketed in the last few months and the upward trend has continued. Depending on the company, 60 grade rods are being sold at Rs 6,000-8,000 per tonne. 40 grade rods are being sold at 55-56 thousand rupees per ton. The B500W is being sold at Rs 63,000-6,000 per tonne in the company.



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