Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
Faisal Durrani, partner and head of analysis for Knight Frank MENA, observes a disparity involving the expanding demand for Dubai homes and readily available stock. In 2024, Dubai welcomed nearly 170,000 brand-new locals last year, whilst total housing supply increased by just over 30,000 units.
Throughout Dubai, Knight Frank located that some 110,000 estate homes were cost over US$ 1 million as at the start of 2Q2025. Collectively, the homes have an approximated worth of US$ 271 billion. Of these, some 37,000 of the units were bought by their proprietors for lower than $1 million.
Of the 143 Dubai residences offered in 2Q2025, 22 fetched prices going beyond US$ 25 million. Nevertheless, typical transaction prices across the industry continued to be fairly the same contrasted to the previous quarter, says Knight Frank. The firm’s Prime Index for Dubai, that tracks real estate costs across 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
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The Dubai household industry continued to shatter records in 2Q2025: Research by Knight Frank proves that 143 Dubai homes priced over US$ 10 million ($12.78 million) were offered last quarter, rising 52% y-o-y.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani accentuate that the present supply of available homes throughout certain price brackets is tightening swiftly. For instance, homes in the US$ 10 million price range plunged by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of offered homes plunged 85% in 2024, from 583 to only 86 units.
Knight Frank additionally emphasize that among the US$ 10 million Dubai residences that offered last quarter, apartments outpaced villas for the first time ever since 2Q2023, with 80 residences marketed, contrasted to 63 villas.
Many of the properties belonging to “accidental millionaires” rise in Dubai’s leading 10 luxury neighborhoods, like Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Particularly, Palm Jumeirah viewed the greatest number of over-US$10 million real property deals in 2Q2025, with 28 such sales carried out.
The units offered in 2Q2025 amounted to an overall sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion reported in the 1st quarter and represents an all-time quarterly sales high, claims Knight Frank. It is likewise a 63% spike compared to the same period last year.
According to Knight Frank, the amount of Dubai property owners who have actually ended up being millionaires exclusively due to their property’s value rising because of cost inflation has improved significantly. “The amount of unexpected millionaires in Dubai has actually increased by an average of 79.5% over the past 3 years,” keeps in mind Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
