Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
Knight Frank includes that among the East Asia HNWIs, those in Hong Kong displayed the strongest appetite, with 22% of respondents signifying the aim to buy UAE estate in 2025.
According to the report, houses continue to be the leading draw for worldwide HNWI as contrasted to the business and retail segments. Additionally, Dubai remains the top target location, with 71% of participants labeling Dubai as their chosen emirate.
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Saudi Arabia and India HNWIs registered the best rate of interest, with 66% and 41% of participants showing an intention to acquire a UAE estate in 2025. For the UK and East Asia HNWIs surveyed, 17% of each cohort showed a possible UAE property investment this year.
Following robust event in 2024, the Dubai property market is expected to continue attracting interest from amongst the wealthy. According to a research report by property consultancy Knight Frank, high-net-worth individuals (HWNIs) observed worldwide have indicated enthusiasm in buying a property in Dubai, with an approximated US$ 10.3 billion ($13 billion) in private capital possibly being carried towards the emirate’s housing market.
“As we have identified in our research study in past years and matching the expertise of our teams, the strongest appetite for a real estate acquisition in the UAE originates from those with the greatest wealth and is a testament to the success of the government’s programs to reinforce the emirate’s look as an area for the world’s well-off to live and invest,” claims Faisal Durrani, affiliate and head of research study for Knight Frank MENA.
The steady interest has supported activity in Dubai’s housing market, which registered record housing sales of almost 170,000 homes in 2024 worth a total of US$ 100 billion, says Knight Frank. That momentum has rollovered right into this year, with AED100 billion ($35 billion) in home sales already reached since March 4. Dubai real estate values have also kept on to increase, rising 19.1% in 2024 to hit an average of AED1,685 psf.
In its latest Location Dubai record, Knight Frank evaluated 387 worldwide HNWI throughout the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to calculate their demand for investing in United Arab Emirates real estate. Over fifty percent of the participants (52%) showed they have an interest in acquiring real estate in the UAE.
“The super-rich remain laser-focused on acquiring high-end homes in the city, and this unrelenting interest has been a significant factor of Dubai being the globe’s busiest US$ 10 million+ homes market for the 2nd year running,” states Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
At the same time, Dubai stays the global’s busiest market available of homes priced over US$ 10 million, the report states. Last year, a total of 435 deals in this bracket were recorded in Dubai, just about amounting to the quantity of such offers record in London and New York incorporated. In Between January and March this year, 111 homes were sold off for more than US$ 10 million in Dubai.
