The month of Ramadan is one of the slowest months of the calendar year, especially for the real estate market. Not only do prices drop but the rate of purchase, sales and rent take a significant dip. Prices for apartments, houses, commercial properties go down slightly whether for rent or for sale. Similarly, activities related to sale and purchase of land also become dry. During this quiet month where one can find enticing prices however, investors and buyers don’t jump on the wagon just yet, people tend to wait for the post Eid-ul-fitr days.
Rental and Estate agency:
The convenience of having real estate agents really falls under the spotlight during this time of the year; for both buyers and sellers. Sellers have a very difficult time to find potential buyers. Not many customers want to enter negotiation or are willing to spend a lot of money. Real estate agents can help boost sale by suggesting attractive prices, and ensuring proper exposure online, advertising on newspapers or in any other platforms. There can always be someone looking to rent a property immediately or an urgent situation. Lamudi’s expert analyst can also compare trends of sale/rent rates of the last few years of Ramadan months to predict the most efficient pricing to help find clients for property as fast as possible.
In the month of Ramadan when people are more focused on charitable activities and spending time in prayer, Lamudi makes property searching hassle free and less tiresome.