What To Know
- The real estate market in Dubai experienced substantial growth during Ramadan as market expectations for a decrease proved wrong.
- The rising demand has led Dubai to maintain its position as a leading force in real estate industry attracting investors from across the world.
- Transaction activity in Ramadan 2024 experienced a 39% increase leading to 12,313 deals while the previous year had only 8,846.
The real estate market in Dubai experienced substantial growth during Ramadan as market expectations for a decrease proved wrong. The new report published by Betterhomes shows that Holy Month real estate trade and market value activities increased in 2023 and 2024 before projecting strong data for 2025.
The sacred month of Ramadan generates substantial impacts on real estate activity within Dubai.
Transaction activity in Ramadan 2024 experienced a 39% increase leading to 12,313 deals while the previous year had only 8,846. The rise in total sales value during the year exceeded expectations by 55% and reached AED32.6 billion while sales had stood at AED21 billion during the previous year.
The real estate market experienced important price increases across the board.
Average sales price: AED2.65 million in 2024 (+12%)
Villas: AED9.85 million (+10%)
Townhouses: AED3.11 million (+22%)
The cost of real estate space in September 2024 was calculated at AED1,741 per square foot whereas it was AED1,507 the previous year.
Projections for Ramadan 2025
Academic estimations show that the upcoming deals will total 13,500 transactions which will produce AED36 billion in total sales.
Average sales price: AED2.7 million
Villas: Expected to hit AED10 million
Apartments: AED1,750 per sq. ft., Townhouses: AED1,200 per sq. ft.
The period of Ramadan creates unusually strong interest in property investments.
During Ramadan real estate developers present extraordinary exclusive offers that let purchasers choose flexible payment options and obtain price reductions and exemption of fees. During Ramadan serious buying activity rises which accelerates property acquisition leading to an excellent period for investments.
The rising demand has led Dubai to maintain its position as a leading force in real estate industry attracting investors from across the world.
