(MENAFN- Jordan Times) AMMAN - Industry experts expected a 10 per cent increase in demand for housing in May as summer approaches.
Mahmoud Salah, a seasoned land developer and housing expert, told The Jordan Times that the sector's seasonality varies across locations, a trend evident in the sales data from Amman, Zarqa, and other parts of the country.
Salah also drew attention to the current housing market situation, likening it to a bubble, referring to significant price increases driven by a temporary surge in demand, deviating from the fundamental factors that typically influence prices.
“The current demand for housing is unsustainable,” he said.
Despite May being projected as a promising month for stakeholders from various perspectives, a number of housing experts express concerns, pointing to a sharp decline in demand during the initial months of the year, a trend they fear may continue to worsen.
Land developer Qais Irshaid highlighted a noticeable shift in home buying patterns and demand, saying that prospective home buyers are increasingly prioritising affordability, a factor that has been outpaced by real estate prices for a considerable period.
Irshaid told The Jordan Times,“A slight increase in demand is expected, but the percentage would still be less compared with last year, given the uncertain geopolitical climate.”
MENAFN06052024000028011005ID1108179153
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.