Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
According to Knight Frank, the number of Dubai house owners who have actually come to be millionaires exclusively due to their property’s value rising because of cost inflation has improved significantly. “The number of unintended millionaires in Dubai has actually increased by approximately 79.5% over the previous three years,” notes Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Faisal Durrani, partner and head of analysis for Knight Frank MENA, watches a disparity amongst the growing interest for Dubai homes and offered supply. In 2024, Dubai invited virtually 170,000 new homeowners last year, whilst complete real estate stock rose by just over 30,000 units.
The units marketed in 2Q2025 amounted to a total sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion recorded in the very first quarter and represents an all-time quarterly sales high, states Knight Frank. It is additionally a 63% spike compared to the same period last year.
A number of the properties belonging to “unintentional millionaires” stand in Dubai’s leading 10 high-end neighborhoods, for instance, Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Particularly, Palm Jumeirah found the highest number of over-US$10 million property deals in 2Q2025, with 28 this kind of purchases done.
Across Dubai, Knight Frank discovered that some 110,000 freehold homes were worth above US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an approximated value of US$ 271 billion. Of these, some 37,000 of the units were purchased by their proprietors for less than $1 million.
The Dubai household industry proceeded to smash records in 2Q2025: Research by Knight Frank shows that 143 Dubai homes valued over US$ 10 million ($12.78 million) were offered last quarter, rising 52% y-o-y.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani highlights that today supply of available homes inside certain price braces is tightening rapidly. For instance, houses in the US$ 10 million rate tier dropped by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of available homes plunged 85% in 2024, from 583 to only 86 units.
Of the 143 Dubai residences marketed in 2Q2025, 22 fetched prices exceeding US$ 25 million. Still, ordinary transaction prices throughout the industry continued to be reasonably unchanged 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, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
Knight Frank additionally feature that among the US$ 10 million Dubai residences that marketed last quarter, apartments outpaced villas for the first time since 2Q2023, with 80 apartments marketed, compared to 63 villas.
