Global online real estate trading platform Lamudi has named the capital city of Bangladesh as the most affordable location in the emerging markets to buy commercial property.
The Gulshan-2 area of Dhaka is the emerging markets’ cheapest place to buy office space, which costs an average of $33.79 per square metre there, according to a ranking released by Lamudi.
At the other end of the scale, offices in the Guéliz area of Marrakech in Morocco are priced at $2,300 per square metre on average.
The ranking quotes average prices based on sales price listings on the Lamudi website, which covers more than 30 countries in the emerging markets.
The top 10 positions are, in terms of affordability and availability, the best locations outside of traditional central business districts to invest in office space, according to Lamudi research.
Gulshan is one of Dhaka’s most affluent areas and has the city’s largest supply of office space as currently listed through Lamudi Bangladesh.
Addis Ababa comes second on Lamudi’s ranking. The average price in the Ethiopian capital’s Summit area is just over $50 per square metre.
Then comes Colombo, whose Kollupitiya neighbourhood has Sri Lanka’s largest supply of office space, offering it at an average of about $90 per square metre.
It is followed by the DHA Phase 1 housing community in Lahore, Pakistan, with an average per-square-metre price of about $171.69.
Westlands, an affluent area in Nairobi, comes fifth. The average price there is $664.23 per square metre.
The other five locations on the 10-position list are Monterrey, Mexico ($731.69 per square metre), the port city of Zarzis in Tunisia ($871.28 per sqm), the Medan Satria area in Bekasi, Indonesia ($943.88 per sqm), Béjaia, a port in Algeria ($1,004.98 per sqm), and Makati in Metro Manila, the Philippines ($1,294.49).