Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
Faisal Durrani, partner and head of research for Knight Frank MENA, notes a disparity among the expanding interest for Dubai homes and offered stock. In 2024, Dubai welcomed virtually 170,000 new locals last year, while overall real estate supply increased by just over 30,000 units.
The units marketed in 2Q2025 amounted to a total sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion recorded in the 1st quarter and represents an all-time quarterly sales high, says Knight Frank. It is additionally a 63% spike compared to the same period last year.
The Dubai non commercial industry carried on to smash logs in 2Q2025: Research by Knight Frank proves that 143 Dubai homes valued over US$ 10 million ($12.78 million) were marketed last quarter, rising 52% y-o-y.
According to Knight Frank, the volume of Dubai home owners who have become millionaires only because of their property’s value increasing because of price inflation has increased significantly. “The amount of accidental millionaires in Dubai has increased by an average of 79.5% over the past three years,” notes Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Throughout Dubai, Knight Frank located that several 110,000 estate homes were cost over US$ 1 million as at the start of 2Q2025. Collectively, the homes have an estimated value of US$ 271 billion. Of these, some 37,000 of the units were purchased by their proprietors for lower than $1 million.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani emphasize that today supply of readily available homes within certain price brackets is narrowing swiftly. For instance, homes in the US$ 10 million price tier 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 only 86 units.
Many of the residences belonging to “accidental millionaires” stand in Dubai’s top 10 deluxe places, for instance, Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah saw the greatest number of over-US$10 million real property deals in 2Q2025, with 28 such sales carried out.
Knight Frank also highlights that among the US$ 10 million Dubai residences that offered last quarter, apartments outpaced villas for the very first time since 2Q2023, with 80 apartments marketed, compared to 63 villas.
Of the 143 Dubai residences marketed in 2Q2025, 22 fetched prices exceeding US$ 25 million. Still, typical transaction rates across the industry continued to be fairly the same contrasted to the last quarter, claims Knight Frank. The firm’s Prime Index for Dubai, which tracks housing rates throughout 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
