In Jordan, Ramadan usually slows housing demand, but rising construction costs this year exacerbate the situation. Experts indicate that developers face significant challenges, particularly due to high interest rates limiting accessibility for potential homeowners. A post-Ramadan rebound is expected, but significant uncertainties remain.
During Ramadan, the housing market in Jordan typically experiences a slowdown as buyers and investors defer financial decisions. This year, however, the situation is exacerbated by rising construction costs, leading to decreased demand. Industry experts highlight that for the real estate sector to recuperate post-Ramadan, pressing challenges must be addressed.
In summary, the Jordanian housing market faces significant hurdles during Ramadan due to high costs and interest rates, impacting buyer confidence and activity. While a recovery is anticipated after Ramadan, it will depend on improved market conditions and potentially new developer strategies or government incentives.
Original Source: jordantimes.com
