Why are apartment prices going through the roof?

Flats in Bangladesh witnessed a fresh price increase as realtors are being forced to pass on the increased construction cost to customers arising out of soaring prices of steel, cement, bricks and other materials.

Pent-up demand and the supply disruption have been fueling the prices of construction raw materials after the coronavirus pandemic situation improved globally.

The price escalated further following the outbreak of the Russia-Ukraine war from the fourth week of February as Russian firms faced problems in exporting products to Europe.

Ukraine is also a major supplier of finished and semi-finished steel products.

Since the disruption to the global supply chain has deepened, the prices of rods, cement and other construction raw materials have increased recently in Bangladesh as the country largely relies on imports to meet the domestic requirement.