Ramadan property sales in Dubai steady last 4 years
Real estate transactions in Dubai during Ramadan have been consistent for the past four years, with 2015 seeing a spike in sales, said Property Finder, a pioneering real estate portal in the Mena region in a new report. In 2015, 13 per cent of the overall property sales transactions in the Dubai market were during Ramadan. The value of these sales was Dh9.11 billion ($2.48 billion) compared to Dh75.3 billion for the whole year. There were 3,870 transactions during Ramadan compared to 30,737 sales for the entire year. This made June 2015 the highest grossing Ramadan month for property sales in Dubai in a 10-year timeframe. Ramadan has coincided with summer since 2008. The excess heat and school holidays combined weigh on property sales, with house viewings decreasing and several families travelling back home. In 2018, 8 per cent of the overall property sales transactions in Dubai happened during Ramadan (May-June). These were cumulatively worth Dh6.49 billion compared to Dh76.27 billion for the market as a whole. In terms of volume, Ramadan witnessed 2,684 transactions versus 34,961 sales for the whole year.
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