Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
The consistent appeal has bolstered activity in Dubai’s residential market, which logged record residential sales of almost 170,000 homes in 2024 worth a total of US$ 100 billion, claims Knight Frank. That energy has rollovered into this year, with AED100 billion ($35 billion) in home sales already achieved since March 4. Dubai real estate prices have also persisted to climb, rising 19.1% in 2024 to hit an average of AED1,685 psf.
In its most current Destination Dubai statement, Knight Frank checked 387 global HNWI throughout the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to assess their desire for investing in United Arab Emirates realty. Over half of the participants (52%) showed they are interested in purchasing real estate in the UAE.
Knight Frank adds that among the East Asia HNWIs, those in Hong Kong presented the greatest desire, with 22% of participants signifying the aim to acquire UAE estate in 2025.
“As we have identified in our research in former years and mirroring the experience of our teams, the highest appetite for a real estate purchase in the UAE comes from those with the most wealth and is a testament to the success of the government’s programmes to strengthen the emirate’s appearance as an area for the world’s rich to settle and invest in,” states Faisal Durrani, affiliate and head of research for Knight Frank MENA.
According to the report, houses remain the biggest draw for global HNWI as contrasted to the business and retail sections. Furthermore, Dubai continues to be the top target place, with 71% of participants identifying Dubai as their chosen emirate.
Following robust activity in 2024, the Dubai real estate market is expected to continue attracting interest from among the well-off. According to a research report by real estate consultancy Knight Frank, high-net-worth individuals (HWNIs) evaluated globally have actually shown attraction in buying a real estate in Dubai, with an estimated US$ 10.3 billion ($13 billion) in private capital most likely being channelled in the direction of the emirate’s housing market.
At the same time, Dubai remains the world’s busiest local market up for sale of homes marked up over US$ 10 million, the report states. Last year, a sum of 435 deals in this bracket were recorded in Dubai, just about equalling the quantity of such offers registered in London and New York incorporated. Between January and March this year, 111 houses were offered for around US$ 10 million in Dubai.
Saudi Arabia and India HNWIs recorded the greatest rate of interest, with 66% and 41% of respondents suggesting an intention to purchase a UAE real estate in 2025. For the UK and East Asia HNWIs evaluated, 17% of each cohort suggested a potential UAE property purchase this year.
“The super-rich stay laser-focused on buying high-end houses in the city, and this relentless demand has actually been an essential factor of Dubai being the globe’s busiest US$ 10 million+ homes market place for the 2nd year running,” claims Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
