Dubai’s property market defies expectations with Ramadan growth

Dubai’s real estate market has shown unexpected growth during Ramadan, challenging the notion of a seasonal slowdown, according to a new report by Betterhomes.

Data from 2023 and 2024 reveals increases across key metrics, including transactions, sales value, and property prices. Property transactions surged by 39% in Ramadan 2024, reaching 12,313 compared to 8,846 in 2023. The total sales value also saw a significant jump, rising 55% to AED32.6 billion from AED21 billion.

Property prices followed suit, with the average sales price climbing 12% to AED2.65 million. Villa prices rose 10% to AED9.85 million, while townhouse prices saw a 22% increase to AED3.11 million. The price per square foot grew across property types, with apartments reaching AED1,821 and townhouses hitting AED1,169.

The market gained momentum in the first half of Ramadan 2024, recording 5,608 transactions—28% higher than the previous year—and generating AED14.8 billion in sales, a 38% increase. Analysts attribute this growth to developer incentives, including payment plans, discounts, and fee waivers.

Looking ahead to Ramadan 2025, experts anticipate transaction volume reaching 13,500, with sales value projected at AED36 billion. The average sales price is expected to rise to AED2.7 million, with 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. Rather than slowing down, the market pulses with energy, driven by strategic opportunities and continued buyer interest,” the report concluded.