Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
According to Knight Frank, the amount of Dubai house owners that have ended up being millionaires exclusively due to their estate’s value raising because of rate inflation has increased significantly. “The amount of unexpected millionaires in Dubai has increased by approximately 79.5% over the previous three years,” keeps in mind Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Of the 143 Dubai residences marketed in 2Q2025, 22 brought prices going beyond US$ 25 million. Still, typical transaction rates across the market continued to be reasonably unmodified contrasted to the last quarter, says Knight Frank. The firm’s Prime Index for Dubai, which tracks real estate costs throughout 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
Knight Frank also highlights that among the US$ 10 million Dubai residences that marketed last quarter, apartments outpaced villas for the very first time ever since 2Q2023, with 80 houses marketed, contrasted to 63 villas.
8@BT Bukit Sembawang Estates Limited
Faisal Durrani, partner and head of analysis for Knight Frank MENA, observes a difference between the expanding necessity for Dubai homes and available supply. In 2024, Dubai invited almost 170,000 new residents last year, whilst overall housing stock rose by simply over 30,000 units.
Throughout Dubai, Knight Frank found that some 110,000 estate homes were cost above US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an approximated worth of US$ 271 billion. Of such, some 37,000 of the units were purchased by their proprietors for lower than $1 million.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani emphasize that the present source of offered homes inside certain price brackets is tightening swiftly. For example, houses in the US$ 10 million price range slipped by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of readily available homes plunged 85% in 2024, from 583 to only 86 units.
Most of the houses belonging to “accidental millionaires” are located in Dubai’s leading 10 high-end places, including Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah found the highest number of over-US$10 million estate special offers in 2Q2025, with 28 such transactions completed.
The Dubai residential market carried on to shatter records in 2Q2025: Research by Knight Frank presents that 143 Dubai homes valued over US$ 10 million ($12.78 million) were marketed last quarter, surging 52% y-o-y.
The units offered in 2Q2025 amounted to a complete sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion filed in the 1st quarter and stands for an all-time quarterly sales high, claims Knight Frank. It is likewise a 63% spike contrasted to the similar period last year.
