Google Ads for Real Estate: A Three-Account Case Study (36,000+ Tracked Conversions)
Across three real-estate Google Ads accounts we managed, 15 residential project campaigns spread over Mumbai, Thane and Pune, we tracked more than 36,000 conversions. The best campaign hit a 12.97% conversion rate, and the lowest cost per conversion came in around AED 1.39. Here are the actual account figures, what was broken in each one, and exactly what we changed.
These campaigns have been running in India for our parent company's clients since 2014. That's the same playbook we're now bringing to Dubai and UAE developers. Every figure here comes straight from the live Google Ads interfaces, with screenshots on file, and each rupee amount is converted to AED at the rate noted under each table.
Three developers, one recurring problem
This account ran a listed developer through five simultaneous launches spread across Mumbai's micro-markets, that's Account A. Account B belonged to a developer working Thane and the western suburbs, with five projects in play. Account C covered a multi-city developer, also with five projects, split between Thane and Pune. Client confidentiality required anonymising all three, so what follows draws on real numbers from these Google Ads accounts without naming names.
All three arrived with the same structural problem. Multi-project accounts read as one blended number, so low-intent Discovery volume masks high-converting Search campaigns. Winning projects get averaged down by losing ones, and you can no longer judge budget on a per-project basis. The fix was the same in every case: make each project answer for its own conversion rate and cost per conversion. These were Indian campaigns, so figures are shown in rupees and converted to AED, so the economics read clearly for a UAE reader.
Account A: a listed developer: five launches, one account
Account A had a classic blending problem. Five Mumbai launches sat in one account, and a genuinely profitable project kept getting dragged down by a campaign paying more than ₹500 (≈AED 21.7+) per conversion. Look at the account level alone, and the winners disappear from view.
We split the account into one named campaign per project, tracking each on its own conversion rate, cost per conversion, and conversion-value-to-cost ratio. That last metric matters most, since it shows payback rather than raw volume. Once we judged each launch on its own merits, we could shift budget toward the campaigns that converted and pull it back from the ones that didn't.
| Metric | Value |
|---|---|
| Best campaign conversion rate | 12.97% |
| Best cost/conversion | ₹31.95 ≈ AED 1.39 |
| Best conversion-value/cost ratio | 2.47x (second-best campaign: 1.48x) |
| Second campaign conversion rate / cost/conversion | 7.26% / ₹48.68 ≈ AED 2.12 |
| Underperformers | 3 campaigns under 1% conversion at ₹500+ (≈AED 21.7+) per conversion |
| Account-wide | 17,605 tracked conversions on ₹21.17L+ (≈AED 92,000+) spend |
Rupees, converted at AED 1 = ₹23, roughly the rate when the campaign ran. It's moved since then.
Account B: a Thane developer: Search versus Discovery
Account B is where the Search-versus-Discovery debate actually gets settled, and the numbers don't leave much room for argument. Two Discovery campaigns pulled enormous volume, 98,904 and 69,250 clicks, yet converted at under 0.4%. Search, working with a fraction of that traffic, converted at 11.01%, 8.14%, and 6.50%. The account average buried both facts.
Discovery didn't get switched off; its job just changed. It kept running for reach and to build remarketing pools, and the conversion budget moved to Search, where the intent and the conversion rate actually lived.
| Metric | Search campaigns | Discovery campaigns |
|---|---|---|
| Conversion rates | 11.01% / 8.14% / 6.50% | under 0.4% |
| Traffic | fraction of account clicks | 98,904 and 69,250 clicks |
| Cost/conversion (top-converting campaign) | ₹410.95 ≈ AED 17.87 | — |
| Role after optimisation | budget priority | reach + remarketing pool |
Account-wide, the account racked up 9,644 tracked conversions, with average CPC at ₹31.45, which comes to roughly AED 1.37. The ₹ figure was converted at AED 1 = ₹23. That was the approximate rate at campaign time, and it does shift today.
Account C: a multi-city developer: the same fix at scale
Account C put the theory to a bigger test: a multi-city account spending roughly ₹83.9L (≈AED 364,800) across Thane and Pune. The same pattern showed up again. Discovery soaked up most of the budget yet converted at under 0.5%. The leading Search campaigns, by contrast, hit 12.76%, 8.43% and 7.63%.
At a size like this, the fix is the same protect-and-scale discipline it's always been: find the double-digit Search campaigns, guard their budget, scale them up, and don't let Discovery quietly eat the account. The blended cost per conversion still came out at ₹956 (≈AED 41.57). That's exactly the point of looking at per-campaign economics, the blended number hides a range running from strong to weak.
| Metric | Value |
|---|---|
| Top Search conversion rates | 12.76% / 8.43% / 7.63% |
| Discovery conversion rate | under 0.5% (absorbing most spend) |
| Account-wide spend | ₹83.9L ≈ AED 364,800 |
| Tracked conversions | 8,753 |
| Blended cost/conversion | ₹956 ≈ AED 41.57 |
AED 1 = ₹23 or thereabouts. That was the rate at campaign time; it moves around, so check today's figure before relying on it.
How to read these numbers (and why no client names)
Every number here comes straight from the live Google Ads accounts, and we keep screenshots on file to walk prospective clients through on a call. We don't name the developers, since campaign data is commercially sensitive. Anonymising builder and client names is a standing rule for our published case studies.
Two honest caveats. First, "tracked conversions" are ad-platform conversions, form fills and enquiries, not confirmed property sales. Treat them as pipeline, not revenue. Second, the rupee-to-AED conversion used throughout is approximate. It reflects the rate around campaign time, and today's rate will differ. We show the losing campaigns next to the winners on purpose. The sub-0.5% Discovery numbers are part of the record, not edited out.
What this means for your Dubai project
The transferable part of this case study is the mechanics, not the numbers. Per-project campaigns, a clean Search-versus-Discovery split, and per-campaign cost economics don't depend on the market. They work the same for a Dubai off-plan launch as they did for these Mumbai, Thane and Pune developers. Your conversion rates and costs will come out different, and we won't promise you a figure. What we bring instead is a structure that makes the spend accountable. Google-certified specialists on the team ran this work.
For the UAE and international buyer-market side of real-estate advertising, see our multi-market Meta Ads case study, 97 concurrent campaigns, and for a developer-website example see our real estate developer website case study. If you run a developer or brokerage, the next step is to see all our campaign results and then book a call to walk through the accounts. Start any conversation via our contact form or at sales@rath.ae, for Google Ads management for Dubai businesses or real estate lead generation in Dubai. To understand the reasoning first, read our real estate lead generation guide.
Frequently asked questions
Do Google Ads work for real estate developers?
Google Ads showed over 36,000 conversions across the three developer accounts we managed, and yes, that number holds up when you structure things per project. The best campaign hit a 12.97% conversion rate, and the lowest cost per conversion came in around AED 1.39 (₹31.95). What matters more than the channel is the account structure. Judge each project on its own numbers. A blended total won't tell you much.
What results did this case study actually record?
Account A booked 17,605 conversions on roughly AED 92,000 in spend. Account B pulled 9,644 conversions at an average CPC near AED 1.37. Account C landed 8,753 conversions against about AED 364,800 in spend. Top Search campaigns across the three accounts converted between 6.5% and 12.97%. Every figure here comes straight from the live accounts.
What is a good Google Ads conversion rate for real estate?
Well-run Search campaigns in these accounts, for residential launches, converted between 6.5% and 12.97%. Discovery campaigns, by contrast, stayed under 0.5%. Treat double-digit Search conversion as a ceiling worth chasing, not something you should expect as your baseline. What you'll actually see depends on the project, the market and the creative, so measure against your own trend rather than these figures.
How much does a real-estate conversion cost on Google Ads?
It varied a lot by campaign. On the best Search campaign it ran about AED 1.39, while underperformers in the same account climbed past AED 21.7, and the blended figure for the largest account came in around AED 41.57. Tracking each campaign separately is what reveals that spread. A blended account number just buries it.
Should every property project get its own campaign?
Yes, that was the core fix in all three accounts. One campaign per project lets each launch be judged on its own conversion rate and cost per conversion, so budget moves to what converts instead of getting averaged into a blended account number. Without it, a profitable project gets dragged down by a losing one.
Are Discovery ads worth running for real estate?
Discovery campaigns pulled solid volume here, 98,904 and 69,250 clicks, but conversion sat under 0.4%. Search told a different story: 6.5% to 11%+ on far less traffic. We didn't kill Discovery. It's still running for reach and to build the remarketing pool, but the conversion budget moved to Search, since that's where the buyer intent actually lives.
Can I verify these numbers?
Every figure comes straight from the live Google Ads accounts, and we have screenshots on file to back it up. Book a call and we'll walk you through the account data directly. Rupee figures were converted at AED 1 = ₹23, roughly the rate at the time the campaigns ran, so the AED amounts should be read as indicative rather than exact today.
Will this work for Dubai off-plan projects?
The mechanics here, per-project campaigns, splitting Search from Discovery, and working out per-campaign economics, don't depend on which market you're in, so the method carries over cleanly to a Dubai off-plan launch. If you want the UAE and international buyer angle specifically, our multi-market Meta Ads case study covers that. And if you'd rather have a plan built around your own project, just request a call through our contact form.
Why aren't the developers named?
Client info stays private. Campaign data is commercially sensitive, so we anonymise every builder and client name in our published case studies. On calls with prospective clients, though, we show the underlying accounts and screenshots in full detail, walking through the specific campaigns behind every figure on this page.