The Real Deal New York

Dhaka rents eclipse Manhattan’s

April 13, 2014 11:00AM

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Dhaka, which houses an estimated 15 million people

Dhaka, which houses an estimated 15 million people

Despite being slum-ridden and overcrowded, Bangladesh’s capital Dhaka not only rivals the real estate prices of Manhattan—it eclipses them more than fourfold.

According to Policy Research Institute housing analyst Ahsan Mansur, the price of an acre of land along Gulshan Avenue in the city’s central business district is equivalent to $75 million. That breaks down to roughly $1,700 per square foot.

By comparison, New York brokerage firms estimated that land in Manhattan averaged $400 per square foot at the end of last year.

In addition, homes in Dhaka are also not likely to get any cheaper, as the population is expected to continue to grow at a rapid rate over the next few years.

Dhaka currently has an estimated population of more than 15 million people, making it the eighth largest city in the world. [BI] —TRD

  • Jesse

    This article is comparing Manhattan’s average to the most expensive block in Bangladesh. I have lived in Dhaka, and yes, there are isolated tiny pockets such as Gulshan where diplomats and wealthy American/European importers and exporters build their mansions, but the vast majority of the city is dirt cheap. It’s like saying One57 represents the average NYC condo… utterly meaningless…

    • rodney

      i doubt land prices anywhere in that city is dirt cheap

  • SILKY SLIM

    You overpay so much…yet receive so little in actual value. Same in LA.

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