Real Estate Transactions Surge Amid Seasonal Trends
Dubai’s real estate market has surpassed expectations by demonstrating robust growth during Ramadan, challenging the widely held belief of a seasonal slowdown, according to a new report by Betterhomes.
Data from 2023 and 2024 indicate significant increases in property transactions, sales value, and prices, positioning Dubai as a top global real estate destination.
Key Market Performance Highlights
During Ramadan 2024, property transactions surged by 39%, reaching 12,313 deals compared to 8,846 in 2023. The total sales value jumped by 55% to AED32.6 billion from AED21 billion, reflecting heightened buyer interest and investor confidence.
Price Growth Across Property Types
- Average sales price: AED 2.65 million (↑ 12%)
- Villa prices: AED 9.85 million (↑ 10%)
- Townhouse prices: AED 3.11 million (↑ 22%)
- Apartments (per sq. ft): AED 1,821
- Townhouses (per sq. ft): AED 1,169
The first half of Ramadan 2024 alone recorded 5,608 transactions, up 28% from 2023, generating AED14.8 billion in sales marking a 38% increase.
Driving Factors Behind Market Growth
Experts attribute the unexpected momentum to:
- Developer incentives such as payment plans, fee waivers, and discounts
- Continued foreign investor interest
- Dubai’s reputation as a secure and thriving global business hub
Ramadan 2025 Outlook
The positive trend is expected to continue, with analysts projecting:
- 13,500 transactions
- Total sales value reaching AED36 billion
- Average sales price rising to AED2.7 million
- Villa prices potentially hitting AED10 million
“Dubai remains a top choice for global investors, and Ramadan has proven to be a dynamic period for real estate activity,” the Betterhomes report noted.
