There is an assumption that Ramadan is a slow month in Dubai for Real Estate market. However, it is the best month to invest in real estate market in Dubai. According to our Senior Property Consultants, most of the people are not dealing in real estate due to a fear that the rates might be down. There is a speculation of decrease in price for real estate in Dubai.
According to Gulf News, landlords were using Dubai Expo 2020 to raise rents. Most of the property consultants denied that it will affect property market. It is just an “imaginary boom” according to senior official at Danube Properties.
The prices are relatively lower than previous months because the artificial boom made many people to buy rooms in different apartments. The rents were going higher, but there was no solid reason other than Dubai Expo 2020.
The month of Ramadan is the best opportunity for investors because most of the expats are on vacations. You can take advantage by investing in real estate because prices are down and not many are people dealing in property market.
Most of the property experts said that the end of 2014 will be good for real estate market. The only problem is that the purchasing power of expats and salaries are to remain low. The increase in number of shared apartments is a threat for many landlords because expats prefer to live in shared rooms due to low rent. Ramadan is going to be the best month for real estate market because many opportunities of investment in real estate market.