Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
According to Knight Frank, the amount of Dubai property owners that have come to be millionaires only as a result of their estate’s value rising because of price inflation has improved significantly. “The number of unintended millionaires in Dubai has increased by approximately 79.5% over the last 3 years,” keeps in mind Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Faisal Durrani, partner and head of research for Knight Frank MENA, monitors a difference amongst the expanding interest for Dubai homes and readily available stock. In 2024, Dubai invited virtually 170,000 brand-new locals last year, while overall housing stock increased by just over 30,000 units.
Knight Frank even emphasize that amongst the US$ 10 million Dubai residences that marketed last quarter, apartments outpaced villas for the first time ever since 2Q2023, with 80 apartments marketed, compared to 63 villas.
Of the 143 Dubai homes sold in 2Q2025, 22 brought rates going beyond US$ 25 million. Nevertheless, typical transaction prices throughout the market continued to be relatively the same compared to the previous quarter, states Knight Frank. The firm’s Prime Index for Dubai, which tracks housing rates throughout 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
Throughout Dubai, Knight Frank discovered that some 110,000 property homes were cost above US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an approximated worth of US$ 271 billion. Of these, some 37,000 of the units were purchased by their proprietors for less than $1 million.
A number of the real estates belonging to “unintentional millionaires” lie in Dubai’s leading 10 high-end areas, for instance, Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah found the highest possible number of over-US$10 million property deals in 2Q2025, with 28 such deals done.
The Dubai residential market proceeded to smash records in 2Q2025: Research by Knight Frank shows that 143 Dubai homes valued over US$ 10 million ($12.78 million) were sold past quarter, rising 52% y-o-y.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani highlights that today supply of readily available homes throughout certain price braces is tightening quickly. For example, houses in the US$ 10 million cost tier plunged by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the variety of readily available homes plunged 85% in 2024, from 583 to just 86 units.
The units sold in 2Q2025 amounted to a complete sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion recorded in the very first quarter and exhibits an all-time quarterly sales high, states Knight Frank. It is additionally a 63% spike compared to the similar period last year.
