Dubai’s property market has shown remarkable growth during Ramadan, challenging conventional expectations of a slowdown during this period, according to a fresh report by Betterhomes.
Impressive Growth in Recent Ramadan Seasons
The data from 2023 and 2024 demonstrate significant increases across key market indicators:
- Transaction volume rose by 39% to 12,313 in Ramadan 2024, up from 8,846 in 2023.
- Total sales value increased by 55% to AED32.6 billion in 2024, compared to AED21 billion in 2023.
- Average sales price grew to AED2.65 million in 2024, marking a 12% increase from AED2.37 million in Ramadan 2023.
Property Type Performance
Different property categories showed varying degrees of appreciation:
- Villa prices reached AED9.85 million, representing a 10% increase from AED8.95 million.
- Townhouse prices jumped 22% to AED3.11 million from AED2.55 million.
- Price per square foot increased across all property types, with the market average rising to AED1,741 in 2024 from AED1,507 in 2023.
- Apartments commanded AED1,821 per square foot.
- Townhouses reached AED1,169 per square foot.
Early Ramadan Momentum
The first fortnight of Ramadan 2024 demonstrated strong market momentum:
- 5,608 transactions were recorded, 28% higher than the same period in 2023.
- Sales totalled AED14.8 billion, 38% higher than the comparable period in 2023.
Market analysts attribute this growth to special Ramadan offers from developers, including flexible payment plans, discounts, and fee waivers.
“The reduced overall market activity during Ramadan means that those engaging in property transactions are highly motivated, leading to quicker deal closures,” the report noted.
Ramadan 2025 Forecast
Looking ahead to Ramadan 2025, experts forecast continued growth:
- Transaction volume is projected to reach approximately 13,500.
- Total sales value is expected to hit AED36 billion.
- Average sales price is predicted to increase to AED2.7 million.
- Villa prices could potentially reach AED10 million.
- Price per square foot is forecast to rise to AED1,750 for apartments and AED1,200 for townhouses.
What This Means for Investors
Dubai continues to be a premier destination for global investors, with Ramadan proving to be a particularly active period for real estate transactions. Rather than slowing down, the market shows exceptional energy during this time, driven by strategic opportunities and sustained buyer interest.
For sellers, Ramadan represents an optimal time to list properties. For buyers and investors, it presents a valuable opportunity to acquire prime assets before prices climb further.
Key Takeaway
Ramadan has emerged as a golden window for property investment in Dubai, contradicting traditional market expectations. With transaction volumes, sales values, and property prices all showing substantial growth during this period, savvy investors should consider timing their market entry to coincide with Ramadan 2025 to maximise their investment potential.
JobXDubai 
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