Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
Knight Frank includes that among the East Asia HNWIs, those in Hong Kong displayed the strongest yearning, with 22% of respondents indicating the intent to purchase UAE real estate in 2025.
Saudi Arabia and India HNWIs registered the greatest passion, with 66% and 41% of participants showing an intention to purchase a UAE property in 2025. For the UK and East Asia HNWIs evaluated, 17% of each cohort showed a prospective UAE real property purchase this year.
“As we have identified in our research in past years and matching the expertise of our teams, the highest appetite for a realty acquisition in the UAE comes from those with the greatest wealth and is a testament to the success of the government’s programs to strengthen the emirate’s appeal as a location for the world’s well-off to settle and invest,” states Faisal Durrani, partner and head of research study for Knight Frank MENA.
In its latest Destination Dubai record, Knight Frank checked 387 global HNWI around the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to assess their desire for investing in United Arab Emirates real estate. Over fifty percent of the respondents (52%) indicated they are interested in acquiring real estate in the UAE.
At the same time, Dubai stays the world’s busiest local market up for sale of homes valued over US$ 10 million, the record states. Last year, a sum of 435 transactions in this bracket were reported in Dubai, nearly equalling the amount of such deals registered in London and New York combined. Between January and March this year, 111 homes were offered for more than US$ 10 million in Dubai.
Following strong event in 2024, the Dubai real estate industry is expected to keep on drawing in demand from among the wealthy. According to a research study report by real estate consultancy Knight Frank, high-net-worth individuals (HWNIs) surveyed worldwide have actually shown enthusiasm in purchasing a property in Dubai, with an approximated US$ 10.3 billion ($13 billion) in private capital most likely being channelled towards the emirate’s residential market.
“The super-rich continue to be laser-focused on purchasing luxury homes in the city, and this relentless need has actually been an essential driver of Dubai being the world’s busiest US$ 10 million+ homes market place for the 2nd year running,” says Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
The consistent interest has actually boosted activity in Dubai’s housing market, that logged record residence sales of approximately 170,000 homes in 2024 worth a total of US$ 100 billion, states Knight Frank. That energy has actually rollovered into this year, with AED100 billion ($35 billion) in home sales already reached as of March 4. Dubai real estate prices have also persisted to climb, rising 19.1% in 2024 to strike approximately AED1,685 psf.
According to the study, residential properties stay the major draw for international HNWI as contrasted to the industrial and retail sectors. Furthermore, Dubai remains the top target location, with 71% of respondents labeling Dubai as their chosen emirate.
