During Ramadan, property buyers in Dubai can expect some discounts and promotions in off-plan sales. Despite the holiday period, Dubai’s real estate market remains active, with buyers and tenants evaluating their plans for the months ahead. Contrary to popular belief, the market does not slow down during holiday periods, and there is still a healthy level of real estate activity taking place across the city.
Myth: Prices Drop During Holidays
One common misconception is that property prices drop during holidays and periods like Ramadan. While there may be some sellers who choose to lower prices due to anticipated lower demand, this is not a trend across the entire market. However, buyers may find discounts in the off-plan sector, with prominent developers offering lower buying thresholds and attractive payment plans during Ramadan. This presents a great opportunity for investors to find more flexible buying options.
Price Hike after the Season
After the holiday season, there is typically a price hike in the real estate market. Buyers who took a break from the market are now back, and there is an influx of new buyers, leading to increased demand. This, combined with a shortage of supply in prime and super-prime segments, creates a dynamic that sellers cannot ignore. While individual sellers may benefit from these price bumps, they do not set off a new pricing trend, which is determined by broader market conditions.
Best Advice: Buy Now
The best advice for property buyers in Dubai is to not wait to close on that perfect property. During this period, there is less competition, making it easier to acquire the desired home. Waiting until next month may put buyers on the wrong end of the pricing cycle. It is recommended to take advantage of the current market conditions and make a purchase now.
Overall, property buyers in Dubai can expect some discounts and promotions during Ramadan, particularly in the off-plan sector. However, it is important to note that prices do not necessarily drop during holidays, and the market remains active. The key is to seize the opportunity and make a purchase during this period of less competition.
