Holiday Homes: a Fad or the Future?

As the world economy slowly recovers from what many fancy as the “Annus Horribilis”, the prospects of holiday homes, retreats or any sort of luxury undertakings seems to be a way of the past. Even if the real estate boomerang of the US of A wasn’t an indication enough, the modern marvel Dubai’s inability to pay its large-scale real-estate development debts cemented the facts right. Nevertheless we, the enlightened ones are already well aware of the “typical British” weather the economies are experiencing (a bit of rain and then the sun shines and back to rain) which brings us to the next query on the table, why even a piece on holiday homes? Let alone the future opportunities, now it’s only a jargon only to be associated with Paris Hilton (all the fad, yet no substance)…

Thanks for bearing with me since the long, confusing intro of this piece; all I wanted was to set the platform straight for the status of owning/making holiday homes at this “state of economy”. However, it was to be plain facts and no twisted connotations, I wouldn’t be writing at the first place 😛

Albeit the world has been through unforeseen turmoil and downturn in economies thanks to a real-estate boom; the future still lies in that damned word, real-estate!!! Ask why? Well for the love of god, Bangladesh isn’t a son of the world; and even if it were it would be a step-son (now don’t get me started, haven’t you read all those articles on how we are incubated from the effects of global meltdown). Thus, the real-estate scene in Bangladesh has been on the rise and the latest feather to its crown has been the holiday homes/retreats.

Although Tagore had mentioned how travel friendly we Banglaees were, I am not sure he had foreseen the mad-rush of Dhakabashi vacationers during any break of 3 days (2 weekends and 1 weekday) or more. In the last few years, the numbers of weekend vacationers have at least quadrupled if not more. Result is the million flat cum hotels that are spiraling up all over the bay in Cox’s Bazaar and Kuakata. Although this gold rush has helped in shaping up tourism as a growing industry in Bangladesh, the results have been more adverse than ever.

The world-class concepts of apartment cum hotels brought in a fresh insight to the holiday homeowners in the country but just as the saying “hujuge bangalee” everyone now is busy developing a real estate in some “see view” location of the bay. At times I wonder, what a “smart alec” nation we are, we never let go off an opportunity without seeing it through. But we tend to oversee the other saying “lebu beshi chiple teeto hoy” or as the English would say, “excess of anything is bad”. Not only are we single-handedly destroying the beauty of the best natural wonder in the country but also heading for a soon to-be ghost-city (with so many apartments and a pinch of regular customers, what else!). I know we don’t enjoy seeing the person next-door rip off profits as we sit n bite our fingernails out of jealousy, at least we could replicate him is some other place if not better it.

Which brings me back to what I started with (so sorry for such regular distractions, even movie intervals are better)… Holiday Homes. No, it’s not for all to have a holiday home, it definitely is not for someone who doesn’t even have a shelter in the “mother of all cities” Dhaka… but then who?

We read about people owning 20 apartments in Dhaka making a mockery of those who spend a lifetime saving up enough to buy one; yet these twenty-some owners could have easily invested their spare amounts in developing real-estate in their village making a villa, a resort or even just a holiday home. The benefits are unlimited; from the actual scope of making it a so-called retreat (which are coming up fast and in every possible corner of Bangladesh) to actually having a livable standard burrow back home, it all adds up to the actual usage of having one.

Look at it this way, with a 10 billion-dollar reserve at hand and millions of NRBs in the horizon; a standard motel in every village doesn’t even sounds out-of-the-box. The Sylhetis are successfully transforming their parental homes on-to spacious villas, extending them to even retreats… then why not the rest! Since we all are so adamant on copying the Western world, we fail to see how commonly they maintain holiday homes/retreats for a getaway from the daily doldrums and spend some quality time with their loved ones. Of course, I increasingly hear the word “bungalow” or “estate home” or even “holiday home” from my affluent friends and their relatives, the concept is still in its infancy. And rather than spending your hard-earned bucks on some flashy fox-hole apartment in Dhaka, why not develop a proper holiday home at your roots to fall back to… for fun and for business.

Again, I must mention… this was never meant for the ones who don’t have a permanent address in the city; but for those who believe in the word long-term and not the usual trader I hear of everyday in Dhaka Stock Market (they use a term T+3, ajke kine 3 diner moddhe profit matured). But if you happen to be someone blessed with a piece of owned real-estate in the city, look no further than your very own village for your next big real-estate undertaking… A holiday home could make you money and also give you a place midst the tidbits of greenery we have left!!!

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