Impact Of Ramadan On Real Estate In Pakistan

Is Ramadan a good time to buy and sell property in Pakistan?

All over the press in the Islamic world, you can read stories about authentic estate companies elongating promotions on property during Ramadan. Is this the case in Pakistan? Is it more suitable to purchase and sell property during Ramadan than at other times of year? Here at Konstruct, we are here to avail you discover more about engaging in authentic estate transactions during the holy month.

Is dropping prices on authentic estate during the holy month authentically a mundane trend?

Traditionally, many authentic estate companies have descried that Ramadan causes a dip in sales. Perhaps this is due to the subdued atmosphere during this period of fasting or the fact that everyone is destitute of or conserving energy during business hours. Selling your habitation during Ramadan may not be such a good conception for the simple reason that people are not as keen to visit property during this period. Potential buyers who are visiting prospective homes are additionally conventionally looking to negotiate for a very low price during this season. Authentic estate companies may put more effort into making property for sale look captivating, hyping up those who are house hunting in order to eschew this dip in sales. Sometimes, authentic estate agents will endeavor to entice buyers utilizing special deals on financing or the promise of gifts for those who purchase an incipient home during the holy time.

How should house hunters proceed?

Since authentic estate companies still appear to be competing with one another for offers on property in Pakistan, it’s a good conception to do some house hunting, or at least research, in the month afore Ramadan, or even earlier. This way, you can get your ocular perceiver in and ascertain precisely what you’re probing for afore any offers appear. It’s best to give yourself some time to make up your mind. Investing in authentic estate can be highly lucrative these days and many people are looking to get a slice of the pie, so property searches can be quite competitive, especially in a capital city like Islamabad and Lahore, where demand for property is high.

Are there any other advantages to purchasing property during Ramadan?

Mian Usama Zaheer Director of Konstruct, verbally expressed: “Ramadan is the ideal time for the investors to benefit from real estate fallen prices as this month is considered to be the buying month for investors. By the end of Ramadan, before Eid billions of rupees are brought back to Pakistan through overseas Pakistani & the market prices are expected to shoot up due to increasing demand & shortage of supply. “

What are the disadvantages of purchasing property during Ramadan?

If you are fasting during Ramadan and withal looking to capitalize on the authentic estate season, you will require to bear a few things in mind afore you visit properties. Ascertain you check the aperture hours of authentic estate agents’ offices.  Office hours conventionally vary according to Ramadan timings. A night time visit is always a good conception when purchasing property, so always plan ahead and check that a night time visit is possible. Ascertain you stay cool when you are viewing. Fasting can take some time to get utilized to at the commencement of Ramadan, so don’t get too caught up in the hype of low property prices, conserve your energy for sagacious decision-making, and take care of your health – you’ll need to be salubrious for all that DIY after Eid, once you have hit the Ramadan sales!

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