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Commenting on the survey results, Marcello Sambartolo, Head of Marketing at propertyfinder.ae, said:
"July numbers appear to be flat compared to June's results. It's the pivotal moment when everybody begins to hold their breath. This year we'll see a long breaking 2 month hiatus since Ramadan overlaps the 2 months of August and September. The trouble is; who can afford to sit idle for 2 months"
"In addition to the most popular locations, a majority of seekers are looking for 50k to 60k to 80k rent scales and 1.5M is a pinnacle price for a lot of buyers. Prices once again have taken a dip but not any lower than what may have been reasonably expected. The big summer crash tenants and buyers were hoping for did not materialize. As everyone walks on egg shells, the market appears to be coming to a standstill rather than performing any huge fluctuation. We are also seeing that our visitors are steadily seeking in specific areas for longer periods. Previously; seekers were looking for lower prices but since all areas are affected almost equally, the searches are not as erratic anymore. If someone wants to live in a particular area, they are more likely to wait rather than settle for another location for a 5% difference in price. The dreaded waiting game begins."
Posted by Rima Ali Al Mashni
