Top 5 Most Affordable Places to Live in Dhaka

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November 21, 2021 Investment Decision

The number one problem faced by the majority of the people in the world would undoubtedly be money. I have met very few people who haven’t complained about not having enough money; and if the 20-80 principle holds, only 20% of the people can afford to be lavish in their lifestyles. The same stands true for us Bangladeshis: for the rest of us 80%, managing our finances becomes the key to our very survival. As anyone grinding through a tight budget would testify, the largest portion of our incomes is spent behind our house rent.

Skimping on house rent is a good way to reduce our expenditures and increase our savings. However, a respectable person might sneer at the very idea of living in the slums, no matter how pressed for money he is. Others might hate the idea of living on the outskirts of Dhaka due to conveyance issues and the availability of good marketplaces. Therefore, your personal preferences are yours; we only aim to analyze some of the important aspects and come up with the topmost affordable areas to live in Dhaka as per building technology & ideas ltd.

 

5. Mirpur

Back when Uttara was just a barren village, Aftabnagar and Bashundhara were bare patches of empty lands and Basila was considered to be in a whole different district, Mirpur was considered to be the most affordable place to live in. It had good housing, low prices and a very good marketplace (even its own historic Cinema hall). Back then, one could find any product in Mirpur for a much cheaper price than in Dhanmondi or Gulshan.

As times changed, so did people, their mentalities and with them, Mirpur. Now, prices are almost universally the same whether you go to Mirpur or even Khulna. Being one of the oldest neighbourhoods, Mirpur had the time and resources to develop a lot – it now houses all the popular franchises of Schools as well as restaurants and shopping marts. With newer housing options popping up in other places, flats for rent or flats for sale, Mirpur ceased to be the most affordable place to live in, putting it at number 5 on our list. That doesn’t mean that Mirpur has become the next Banani; it remains affordable, with almost all commodities in the vicinity, eliminating the need for travel in the cruel traffic of Dhaka. If you do need to travel outside of Mirpur, it has excellent connectivity of buses and lagoonas that can take you almost anywhere in Dhaka.

4. Mohammadpur

Just like Mirpur, Mohammadpur housed families in Dhaka who have a tight budget. Just like Mirpur, it also developed a lot, increasing the popularity of the housing options in this area and subsequently, the rent. Fortunately, many of the surrounding areas, like Shyamoli, Adabor and Dhaka Uddyan have become commercial hubs. Many businesses, both corporate and retail, are situated in these locations, making Mohammadpur a good place to live in, to avoid the hassle of commuting to work through heavy traffic. This provided Mohammadpur with an edge in this competition and put it just a level above Mirpur, in terms of affordability and convenience.

3. Malibagh

This zone boasts a rank above Mirpur and Mohammadpur with its sheer affordability. Rent is generally much lower in Malibagh than in the places mentioned above. However, it still is far from being developed enough to give a convenient lifestyle for a modern, educated family, steering it away from the top spot in this list. However, the surrounding areas ensure that you have access to anything and everything if you’re living in Malibagh. The marketplaces in Rampura, good connectivity to Hatirjheel and subsequently, Gulshan, the renowned Mouchak Market and the centre for auto shops – Bangla Motor, everything is within a walking distance from Malibagh. Even the central rail station in Kamlapur can be easily accessed from this location. This convenience places it on the list of the most affordable places to live in.

2. Jatrabari

Although this place is on the outskirts of Dhaka, it, in no way, is a remote location. It’s one of the busiest places in Dhaka, allowing access to the bike shops in Bongshal, sports shops in the stadium market and the famous Gulisthan markets. With Motijheel housing the largest number of offices, the people preferring to cut down on their commuting times want to move to its vicinity and choose Jatrabari to live in. With an easier way in and out of the city, Jatrabari becomes a popular spot for people who are staying in Dhaka for their jobs and have to travel to their loved ones very frequently. Of course, being in the outskirts of Dhaka, the rents are nowhere close to being as high as they are within Dhaka, putting it in the number two spot in this list.

1. Hazaribag

Just a decade ago, Hazaribag would have been excluded from this list; due to being close to a high-profile location like Dhanmondi, the rents used to be pretty high. Add to it the Tanneries in the place, it became a hub for people to flock in. Even after all that, it had been a fairly affordable place to live, even back then. However, something changed: the Tanneries were removed from this location by the government, to provide a healthier environment for the people of Dhanmondi to live in. With such a large part of the area going vacant, housing prices went down significantly, making it one of the most cost-effective places to live in.

The tanneries went away, but the area remained in the same spot; still close to Dhanmondi, the New Market, Nilkhet, Azimpur, Rayerbazar and Jigatola. People working in Mohammadpur can commute easily from this place, making it one of the most convenient locations in Dhaka. Some might argue that Hazaribag has no bus stops and is lacking in the conveyance department, but one just has to spend a few takas on a rickshaw, or get some cardio through walking to reach Azimpur or Jigatola from here, which can give them access to almost anywhere in Dhaka.

Conclusion

To find a flat to purchase or rent in Dhaka, there are other affordable places to live in as well: Diabari, Kalyanpur, Azimpur, Rayerbazar etc. However, we aren’t considering the cheapest places, but also convenience that would give you a bang for your buck. With that in mind, these are the five most affordable places to live in Dhaka.

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