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Gulshan: The magnificent, the furnished

  • Published at 11:19 pm December 23rd, 2019
A part of Gulshan area in DhakaCourtesy

Gulshan had always been considered a great residential zone among all classes of people, both local and foreign

If you live in a city for a prolonged period of time, you will start to notice that all of its areas are not the same – and it is not just the outlook or features. Every place, every area, seems to have a distinct aura about them that draws different people, who in return, create viewpoints for those areas. “Go to Mirpur for affordable homes,” “Go to Malibagh for great connectivity” or “Go to Uttara for tranquility” – most of these notions have grown out of general observations that continue to persist, while the validity of others can be disputed. When it comes to “furnished apartments” – homes with furniture in tow – people always say “Go to Gulshan.” However, how accurate is that statement?

Statistically speaking, Gulshan would indeed be a great starting point to search for furnished apartments in Dhaka. That is because, according to the Bproperty database, about 15.46% of the total apartments available for purchase or rent in Gulshan area right now are furnished. For such a niche product, the concentration of furnished apartments in just a single area is quite high. In contrast, other major areas of the city like Bashundhara Residential Area, Uttara or Mirpur just do not have the same amount of furnished flats. Only 1.47%, 2.90% and 1.01%, respectively, of their total available flats are furnished ones. So, what makes Gulshan a “magnet” to furnished apartments?

Gulshan had always been considered a great residential zone among all classes of people, both local and foreign. And ever since major foreign embassies were established in the neighboring areas, turning it into a diplomatic zone, Gulshan’s popularity among expatriates and foreign dignitaries skyrocketed. This, in turn, attracted many other establishments and a tightening of security by the government. So, as more and more foreigners searched for places to live in Gulshan, the popularity of furnished flats there, as well as in Banani, continued to rise. But, what is the relation between popularity increase among foreigners and furnished apartments?

Nothing comes close to going back home at the end of a long day and resting in your own bed. However, many foreigners and dignitaries often visit Bangladesh for a few weeks or months at a time – with only a few placements for longer durations. Staying at hotels is a good option for short stays, but when that stay is for a few months – a hotel just will not do. However, a furnished apartment has all the items of a “home,” the resident does not have to move around with furniture in tow, and best of all -- the place feels like a home.

Interestingly, even though it is mostly foreigners who prefer a furnished apartment for the very nature of its function, it is usually for rent and not purchase. Most of the furnished properties available are usually bought by our own citizens or organizations who need to house a steady stream of people in Dhaka. So, the question is, what about other areas?

As mentioned earlier, Gulshan may be one of the first areas that pop into mind when thinking of furnished apartments, but it is definitely not the only area. A few expected areas like Banani, as well as some unexpected areas like Mohammadpur, Moghbazar and Badda are quickly becoming hot zones for furnished apartments. Badda, in particular, shows a lot of promise. The area is close to Gulshan 1, Gulshan 2 and Baridhara, yet, property price and rent there is still significantly less than that of the aforementioned areas – making it a highly desirable zone for residence. Residents of the area can reach many major locations by foot in just a few minutes.

So the prevailing sentiment that “Go to Gulshan for furnished apartments” may change very near in the future as more areas build up a stockpile of highly desirable furnished apartments, but it is still a strong sentiment until then.