Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
Faisal Durrani, associate and head of analysis for Knight Frank MENA, observes a difference among the growing necessity for Dubai homes and readily available supply. In 2024, Dubai accepted nearly 170,000 new locals last year, while total housing stock increased by just over 30,000 units.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani highlights that the present source of readily available homes within certain price brackets is tightening swiftly. For example, houses in the US$ 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 plummeted 85% in 2024, from 583 to only 86 units.
Of the 143 Dubai houses sold in 2Q2025, 22 brought prices going beyond US$ 25 million. Still, typical transaction costs across the market continued to be reasonably unchanged compared to the last quarter, claims Knight Frank. The firm’s Prime Index for Dubai, that tracks real estate costs throughout 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
The units sold in 2Q2025 reached to an overall sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion reported in the 1st quarter and exhibits an all-time quarterly sales high, claims Knight Frank. It is also a 63% spike compared to the similar period last year.
Knight Frank additionally emphasize that among the US$ 10 million Dubai residences that offered last quarter, apartments outpaced villas for the very first time ever since 2Q2023, with 80 apartments sold, compared to 63 villas.
The Dubai household market carried on to shatter reports in 2Q2025: Research by Knight Frank shows that 143 Dubai homes priced over US$ 10 million ($12.78 million) were sold last quarter, rising 52% y-o-y.
A number of the residences belonging to “unintentional millionaires” stand in Dubai’s top 10 luxury communities, such as Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah saw the greatest number of over-US$10 million real property special offers in 2Q2025, with 28 this kind of deals completed.
Across Dubai, Knight Frank located that several 110,000 estate homes were cost over US$ 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 acquired by their owners for less than $1 million.
According to Knight Frank, the amount of Dubai home owners that have come to be millionaires solely because of their property’s worth rising because of cost inflation has increased significantly. “The number 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).
