Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
Faisal Durrani, associate and head of research study for Knight Frank MENA, notes a variation amongst the growing necessity for Dubai homes and available supply. In 2024, Dubai invited almost 170,000 new locals last year, while complete housing stock increased by simply over 30,000 units.
Many of the real estates belonging to “unintended millionaires” stand in Dubai’s top 10 deluxe communities, such as Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah saw the greatest number of over-US$10 million real estate deals in 2Q2025, with 28 such sales carried out.
The units marketed in 2Q2025 reached to a complete sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion recorded in the 1st quarter and represents an all-time quarterly sales high, says Knight Frank. It is also a 63% spike compared to the same period in 2024.
Of the 143 Dubai residences marketed in 2Q2025, 22 fetched prices exceeding US$ 25 million. Still, average transaction prices across the market remained reasonably the same compared to the previous quarter, states Knight Frank. The firm’s Prime Index for Dubai, that tracks real estate prices throughout 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
The Dubai residential market carried on to smash reports in 2Q2025: Research by Knight Frank proves that 143 Dubai homes priced over US$ 10 million ($12.78 million) were offered past quarter, rising 52% y-o-y.
According to Knight Frank, the amount of Dubai home owners who have actually ended up being millionaires exclusively due to their real estate’s value increasing because of rate inflation has improved significantly. “The number of accidental millionaires in Dubai has increased by approximately 79.5% over the previous 3 years,” keeps in mind Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Across Dubai, Knight Frank discovered that some 110,000 freehold homes were worth over US$ 1 million as at the start of 2Q2025. Collectively, the homes have an estimated worth of US$ 271 billion. Of such, some 37,000 of the units were purchased by their proprietors for less than $1 million.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani accentuate that today supply of readily available homes throughout certain price brackets is tightening swiftly. For instance, houses in the US$ 10 million rate range slipped by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of offered homes plunged 85% in 2024, from 583 to just 86 units.
Knight Frank even emphasize that amongst the US$ 10 million Dubai residences that sold last quarter, apartments outpaced villas for the first time ever since 2Q2023, with 80 residences offered, compared to 63 villas.
