Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
Knight Frank additionally feature that among the US$ 10 million Dubai residences that offered last quarter, apartments outpaced villas for the first time ever since 2Q2023, with 80 apartments sold, contrasted to 63 villas.
The Dubai non commercial market continued to smash reports in 2Q2025: Research by Knight Frank shows that 143 Dubai homes priced over US$ 10 million ($12.78 million) were marketed last quarter, rising 52% y-o-y.
The units marketed in 2Q2025 reached to a complete sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion filed in the very first quarter and exhibits an all-time quarterly sales high, states Knight Frank. It is likewise a 63% spike compared to the same period in 2024.
Most of the properties belonging to “unintended millionaires” are located in Dubai’s top 10 luxury places, such as Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah found the greatest amount of over-US$10 million real property deals in 2Q2025, with 28 this kind of deals completed.
Faisal Durrani, partner and head of analysis for Knight Frank MENA, watches a disparity between the growing interest for Dubai homes and available stock. In 2024, Dubai invited almost 170,000 new homeowners last year, while total housing stock increased by just over 30,000 units.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani highlights that the present supply of available homes throughout certain price brackets is narrowing swiftly. For instance, houses in the US$ 10 million cost 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.
Throughout Dubai, Knight Frank found that several 110,000 estate homes were cost over US$ 1 million as at the beginning 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 owners for less than $1 million.
According to Knight Frank, the amount of Dubai property owners that have ended up being millionaires exclusively due to their real property’s worth increasing because of price inflation has increased significantly. “The number of unintended millionaires in Dubai has increased by approximately 79.5% over the past 3 years,” notes Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Of the 143 Dubai houses offered in 2Q2025, 22 brought rates surpassing US$ 25 million. Still, ordinary transaction costs across the industry continued to be relatively the same compared to the previous quarter, states Knight Frank. The firm’s Prime Index for Dubai, which tracks real estate costs across 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
