Price hike in construction materials threatens housing sector: REHAB

The recent rise in the prices of building materials has cast a shadow on the real estate sector again, said REHAB President Alamgir Shamsul Alamin on Tuesday.

“The prices of flats will go up in the future due to the price hike of construction materials, and thus it may go beyond the reach of the middle-income earners,” he said at an iftar programme in the capital.

Real Estate and Housing Association of Bangladesh (REHAB) organised the programme where State Minister for Housing and Public Works Sharif Ahmed was present as the chief guest, according to a press release.

In his speech, the state minister said the government is working relentlessly to ensure safe housing for all.

“There are various problems in the housing sector and the issues will be resolved through discussions.”

He, however, urged all to construct buildings following building codes.

The REHAB president, who chaired the programme, demanded investment permission of undisclosed money in the sector in the next budget, along with introduction of a secondary market system and formation of a special fund to boost the sector.

REHAB Senior Vice-President Enthekhabul Hamid, vice-presidents Kamal Mahmud, Nazrul Islam, Sharif Ali Khan and Mohd Shohel Rana, among others, were present on the occasion.