Measuring Affordability of the Middle Income Group for Residential House Price in Real Estate Sector of Rajshahi, Bangladesh

  • Asaduzzaman Md Assistant Professor, Department of Architecture, Rajshahi University of Engineering & Technology, Rajshahi-6204, Bangladesh.
  • Hameem Sheikh B.Arch. Student, Department of Architecture, Rajshahi University of Engineering & Technology, Rajshahi-6204, Bangladesh.
Keywords: Housing affordability, Price to Income Ratio, Middle Income Group, Rajshahi

Abstract

Housing affordability has been an indicator of socio-economic status. Due to the rapid urbanization of developing countries like Bangladesh the dousing demand is always on a high. This increasing demand opposite to a lack of supply makes houses unaffordable for the middle income groups in the metropolitan cities like Rajshahi. This research is carried out to examine the level of housing affordability of the middle income groups in Rajshahi by using Price to Income Ratio (PIR) approach. PIR is applied to the residential units provided by the Real Estate agencies, which reveals that these are moderate to severely unaffordable for the target group. It is hoped that this paper could be able to provide a clear understanding useful insight on housing affordability for the middle-income group of Rajshahi.

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Published
2021-09-20
Section
Articles