Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani emphasize that the present number of available homes inside certain price brackets is narrowing rapidly. For example, houses in the US$ 10 million price range fell by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the variety of available homes plummeted 85% in 2024, from 583 to just 86 units.
Faisal Durrani, associate and head of research for Knight Frank MENA, monitors a difference involving the growing interest for Dubai homes and offered supply. In 2024, Dubai accepted nearly 170,000 brand-new locals last year, while overall real estate stock rose by just over 30,000 units.
Throughout Dubai, Knight Frank found that some 110,000 property homes were valued above US$ 1 million as at the start of 2Q2025. Collectively, the homes have an estimated value of US$ 271 billion. Of these, some 37,000 of the units were acquired by their proprietors for less than $1 million.
Of the 143 Dubai houses sold in 2Q2025, 22 fetched costs going beyond US$ 25 million. Still, average transaction costs across the market remained relatively unchanged contrasted to the previous quarter, claims Knight Frank. The firm’s Prime Index for Dubai, which tracks real estate rates across 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
The Dubai residential market proceeded to shatter reports in 2Q2025: Research by Knight Frank presents that 143 Dubai homes valued over US$ 10 million ($12.78 million) were offered last quarter, rising 52% y-o-y.
Knight Frank additionally highlights that amongst the US$ 10 million Dubai residences that marketed last quarter, apartments outpaced villas for the very first time since 2Q2023, with 80 houses offered, contrasted to 63 villas.
The units sold 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 first quarter and stands for an all-time quarterly sales high, says Knight Frank. It is likewise a 63% spike contrasted to the similar period in 2024.
According to Knight Frank, the volume of Dubai homeowners that have come to be millionaires exclusively as a result of their real estate’s worth increasing because of cost inflation has increased significantly. “The number of unintentional millionaires in Dubai has increased by approximately 79.5% over the previous three years,” keeps in mind Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
A lot of the real estates belonging to “unintentional millionaires” stand in Dubai’s leading 10 luxury areas, 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 deals in 2Q2025, with 28 this kind of transactions completed.
