Number of real estate transactions steady during Ramadan, says Propertyfinder.ae

Number of real estate transactions steady during Ramadan, says Propertyfinder.ae
According to Propertyfinder.ae, the drop in the number of transactions is expected to be "even less dramatic" this year
Published: 21 May 2018 - 5 a.m.

Propertyfinder.ae recently reported that Ramadan continued to be a good time to rent or buy property.

The company said that over the last two Ramadans, sales transactions stayed steady, only dipping by just a few hundred compared with the months leading up to occassion.

“In 2017, the total number of sold transactions during Ramadan was 2,527, compared with 3,025 in the month before,” said Lynnette Abad, director of research and data at Propertyfinder Group.

“In 2016, the total number of sold transactions during Ramadan was 2,007, compared with 2,391 in the month before.”

“Also, bear in mind that most people travel during the summer months which is the time when Ramadan fell the last two years. Considering this, sales transactions levels remained steady which could indicate there was an uptick in demand during these months despite most people being away,” says Lynnette.

The difference this year is expected to be "even less dramatic", the company added.


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