The New Nation - Internet Edition

Syful Islam

House rent in the city has gone beyond the reach of middle and lower income group of people as in the recent days the housing sector experienced a big blow due to price hike of construction materials.

The monthly rent of an eight hundred square feet flat has been raised to more than Tk 12,000 to Tk 15,000 depending on the place and area. A man drawing a salary below Tk 25,000 to Tk 30,000 can't bear such a burden of high rent.

"We are a family of 5 members with my wife, two daughters and a son. We need a 3-bedroom flat, which now charges Tk 12,000 as rent. I cant save such a big amount from my salary. I am thinking to shift to a low rent flat but I can't find any of them," said Nazrul Islam, a banker, in city's Badda area.

"I am afraid if I can now run my family properly. Price hike of essential commodities messes our lifestyle. Increased house rent also mounts the problem," he said.

Selim Mia, an employee of a real estate company, said price of commodities, cost of living including house rent is increasing continuously. "But our income is not rising accordingly. How can we carry on?" he asks.

In Badda, Rampura, Mirpur, Jartrabari and Demra house rent of a seven hundred to eight hundred square feet flat stands between Tk 10,000 and Tk 12,000 per month. In some places of the said areas rent for such a flat has risen even to Tk 15,000 per month.

House rent in the newly constructed buildings is higher than the old ones. "The price of construction materials has doubled in the recent days. It has inflated our investment. We are paying more money as monthly interest of bank loans. So, we have no option but to charge high rent," said some of the newly built house owners in the city.

Per ton of MS rod is now selling between Tk 70,000 and Tk 74,000 depending on grades. Per bag of cement is selling between Tk 350 and Tk 370 in different places.

"I am paying double to buy materials to construct a building… even I am paying high wages to the labourers as their cost of living doubled within a year. So I am charging higher than the old buildings constructed last year or years ago," Rahimul Huq, a house owner in the city's Jatrabari area told The New Nation.

Rent of old buildings is also increasing every year by Tk 1000 to Tk 2000 depending on the area.

"Cost of living has also risen as compared with the previous year. My family depends on the money I get as house rent. So in the days of high prices I am bound to increase house rent," said Abidur Rahim, another house owner in Badda area.