Low Demand on Furniture despite 25-40% Price Drop amid Stagnant Real Estate Market

AMMAN —AlGhad— The demand on furniture remains in an all-time low despite a 25-40 drop in price offering during the summer of 2018, due to a general drop in furniture prices worldwide, according to the Chairman of the Furniture Merchants Trade Union Sharaf Hajayneh.

Compared to the summer of 2017, demand on furniture has dropped 35 per cent, he noted.

In a statement to AlGhad, Hajayneh explained that even though the prices have declined in the countries of origin, reflective on the domestic price offering, demand remains low. The cut-throat competition among the merchants themselves has also significantly contributed to the decline in prices, he added.

Overall, the market is on the low, as the real estate has been stagnant, he highlighted.

Notably, figures by the Department of Land and Survey, issued last Tuesday, indicate real estate transactions in the first half of 2018 have declined by 11 per cent to JOD2.626 billion.

In June alone, real estate transaction totalled at JOD302 million, down 35 per cent compared to June 2017.

Powered by: joos.co
© جميع حقوق النشر محفوظة لجريدة الغد 2018