All you need to know about navigating the Dubai Property Market during the Holy Month 2023: Ramadan and Real Estate
Ramadan is a necessary time of year for Muslims worldwide, and Dubai is no different. During the holy month, residents of Dubai observe a month-long fast from dawn to dark, and the city takes on a new atmosphere as companies alter their hours of operation to suit the religious observance. This includes the real estate business, which undergoes several shifts throughout Ramadan.
If you want to purchase, sell, or rent a property in Dubai during the month of Ramadan, bear the following in mind:
Most companies in Dubai will have modified working hours and change their operating hours during Ramadan to fit the religious observance. This includes real estate offices with potentially variable monthly opening and closing hours. When scheduling property viewings or meetings with real estate agents, it is essential to confirm the business hours. Moreover, Since many individuals focus on their religious observances and spend time with their families during Ramadan, the real estate market generally experiences a dip in activity. This can benefit buyers and renters, as fewer competing bids may exist.
During the holy month of Ramadan, it is essential to respect the cultural sensitivities of individuals who observe it. This includes avoiding public shows of affection, abstaining from eating or drinking during fasting hours, and dressing modestly when attending property viewings or meetings with real estate agents. Additionally, During the slower month of Ramadan, real estate developers and property owners may provide discounts or incentives to boost business. Check with real estate agents to see if any deals or specials are available.
You must also keep in mind that, unfortunately, During Ramadan, transactions may take longer to process due to the altered business hours and reduced volume of business whether purchasing, selling, or renting a home; including this in schedules or deadlines is crucial.
In Dubai, Ramadan is a special time of year, and the real estate market is no exception. Considering these suggestions, you can traverse the market throughout this holy month with cultural sensitivity and understanding and take advantage of any possible discounts or incentives by developers.
At Provident estate, we recognize and honor the significance of Ramadan for our Muslim clients and employees. Thus, we modify our business operations during this holy month to suit individuals following it. Throughout Ramadan, we create unique events and activities to show appreciation for our Muslim clients and coworkers. These may include iftar feasts or financial gifts to local groups that assist the needy throughout the holy month.
Provident is committed to accommodating and honoring the religious traditions of all clients and employees, including those who observe Ramadan. This holy month is a significant time for many individuals, and we are committed to ensuring that our business processes reflect this appreciation and sensitivity.