Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
The Dubai household industry proceeded to smash logs in 2Q2025: Research by Knight Frank proves that 143 Dubai homes priced over US$ 10 million ($12.78 million) were offered last quarter, growing 52% y-o-y.
Faisal Durrani, associate and head of analysis for Knight Frank MENA, observes a variation amongst the expanding demand for Dubai homes and offered supply. In 2024, Dubai welcomed nearly 170,000 new homeowners last year, while total housing stock climbed by simply over 30,000 units.
A lot of the residences belonging to “accidental millionaires” lie in Dubai’s top 10 deluxe communities, including Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Specifically, Palm Jumeirah found the highest number of over-US$10 million property special offers in 2Q2025, with 28 this kind of purchases completed.
The units offered in 2Q2025 amounted to a total sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion reported in the first quarter and represents an all-time quarterly sales high, states Knight Frank. It is additionally a 63% spike compared to the same period in 2024.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani accentuate that the present source of offered homes throughout certain price brackets is narrowing quickly. As an example, homes in the US$ 10 million cost range slipped by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of readily available homes dropped 85% in 2024, from 583 to only 86 units.
According to Knight Frank, the volume of Dubai home owners who have come to be millionaires only because of their real 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 past three years,” notes Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Of the 143 Dubai residences marketed in 2Q2025, 22 fetched costs surpassing US$ 25 million. Nonetheless, ordinary transaction rates across the market stayed relatively unchanged contrasted to the previous quarter, states Knight Frank. The firm’s Prime Index for Dubai, that tracks housing prices throughout 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
Knight Frank even highlights that among the US$ 10 million Dubai residences that sold last quarter, apartments outpaced villas for the first time since 2Q2023, with 80 apartments offered, compared to 63 villas.
Throughout Dubai, Knight Frank located that some 110,000 estate homes were worth over 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 bought by their proprietors for lower than $1 million.
