For most homebuyers in Bangladesh, the decision to purchase an apartment comes with a massive dilemma: Should you buy a “Ready Flat” that you can move into immediately, or book an “Ongoing Project” that is still under construction?
Both options have their merits, but they appeal to two very different types of buyers. The decision largely depends on your urgency, your liquidity (cash in hand), and your risk tolerance.
Here is a breakdown to help you decide which route is best for your portfolio.
1. The Case for Ready Flats
Best for: Buyers who need immediate possession or want to avoid construction risk.
The biggest advantage of a ready flat is certainty. What you see is what you get. You can walk through the rooms, check the build quality, test the water pressure, and see the view from the balcony. There is no risk of the developer delaying the handover.
The Downside:
- Higher Price: You pay a premium for the finished product.
- Upfront Payment: You usually need to pay 100% of the property value (or secure a bank loan) immediately.
- No Customization: You cannot change the internal layout or tile selection; you have to accept the developer’s choices or spend extra on renovation.
2. The Case for Ongoing Projects
Best for: Investors looking for high ROI and buyers who want payment flexibility.
Booking an apartment during the construction phase is the smartest financial move if you are not in a rush.
The Benefits:
- Price Appreciation: The price of a flat at the “piling stage” is significantly lower than a “ready flat.” By the time the building is handed over, the property value often appreciates by 20-30%.
- Flexible Installments: You don’t need the full amount upfront. You can pay in installments over 3 to 4 years.
- Customization: You can often work with the developer to customize internal walls or finishes.
3. How to Mitigate the “Delay Risk”
The fear with ongoing projects is: “Will the developer finish on time?” This is where choosing the right partner matters.
Smart investors look for developers with a strong track record of active sites. Instead of just looking at brochures, visit the physical locations. For instance, developers like Better Engineering Ltd are known for maintaining active construction schedules across their ongoing projects in prime locations like Uttara. When you choose a developer that has multiple active sites, the risk of the project stalling drops significantly.
4. Which One Wins?
- Choose Ready if you are currently paying high rent and need to move immediately. The rent savings might offset the higher property price.
- Choose Ongoing if you want to build an asset. If you can wait 2-3 years, the capital appreciation you gain is far higher than the rent you would save.
Conclusion
Ultimately, real estate in Dhaka is a solid investment regardless of the type, provided the location is right.
If you have the luxury of time, an ongoing project allows you to enter the market at a lower price point and grow your equity as the building rises. If you are ready to explore investment-grade options, start by comparing the location and construction speed of current market leaders to ensure your money is in safe hands.
