During Ramadan, Jordan’s housing market experiences a typical slowdown; however, rising construction costs have intensified this decline, leading to weakened demand. Industry experts cite high-interest rates making home financing inaccessible for many, particularly for middle-income families. Some buyers express frustration as their homeownership aspirations become increasingly unattainable, while cautious optimism for a market rebound exists, dependent on future conditions.
In Jordan, the housing market typically experiences a slowdown during Ramadan as both buyers and investors pause their financial activities. However, in 2025, this seasonal slowdown has been exacerbated by increasing construction costs, resulting in a significant weakening of demand. Industry experts have indicated that key challenges must be addressed in order for the real estate sector to regain momentum post-Ramadan.
Mahmoud Salah, a housing expert and developer, emphasized that real estate activity often declines during the Holy Month, but this year developers are additionally struggling with rising material costs. This situation is compounded by the need to keep property prices stable, while potential buyers are already feeling financial pressure. High-interest rates have made financing less accessible, particularly for middle-income families, resulting in many postponing their purchase decisions until the market stabilizes.
The frustration among prospective homeowners is evident. Enad Qaisi, a potential buyer, expressed his dismay over ballooning prices and expensive loan rates that seem to keep homeownership out of reach. Despite years of saving, he is considering alternative options, such as purchasing land instead. Noor Emad, a newlywed, echoed similar sentiments, highlighting the difficulty of balancing affordability with preferred locations amidst soaring interest rates that make investment decisions feel precarious.
While the housing market remains dormant, experts express cautious optimism for a rebound after Ramadan, albeit the pace of recovery is unclear. To revive demand, developers may need to implement more flexible payment plans or seek support through government-backed incentives that encourage home purchases. Without addressing these market conditions, the outlook remains uncertain for both buyers and sellers in the Jordanian housing sector.
In summary, the housing market in Jordan is currently facing significant challenges, particularly during Ramadan, compounded by rising construction costs and high-interest rates. These factors contribute to lower demand and create obstacles for potential homeowners. Experts suggest that addressing these issues may facilitate a rebound in the market post-Ramadan, but active measures, such as flexible payments and governmental support, may be necessary to stimulate demand effectively.
Original Source: jordantimes.com
