Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
The Dubai residential industry continued to shatter reports in 2Q2025: Research by Knight Frank proves that 143 Dubai homes valued over US$ 10 million ($12.78 million) were sold last quarter, growing 52% y-o-y.
Knight Frank even feature that amongst the US$ 10 million Dubai residences that offered last quarter, apartments outpaced villas for the very first time ever since 2Q2023, with 80 residences offered, contrasted to 63 villas.
Across Dubai, Knight Frank located that several 110,000 property homes were worth over US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an approximated worth of US$ 271 billion. Of these, some 37,000 of the units were purchased by their owners for lower than $1 million.
Of the 143 Dubai houses offered in 2Q2025, 22 fetched costs surpassing US$ 25 million. Still, typical transaction costs across the industry continued to be reasonably the same compared to the last quarter, states Knight Frank. The firm’s Prime Index for Dubai, that tracks real estate costs across 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
Most of the houses belonging to “unintended millionaires” lie in Dubai’s top 10 deluxe places, including Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Particularly, Palm Jumeirah found the greatest number of over-US$10 million real property special offers in 2Q2025, with 28 this kind of transactions carried out.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani accentuate that today number of offered homes throughout certain price braces is tightening swiftly. For instance, houses in the US$ 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 offered homes plummeted 85% in 2024, from 583 to just 86 units.
Faisal Durrani, associate and head of analysis for Knight Frank MENA, watches a difference among the growing necessity for Dubai homes and offered supply. In 2024, Dubai accepted virtually 170,000 brand-new locals last year, while total housing supply rose by simply over 30,000 units.
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According to Knight Frank, the number of Dubai property owners that have become millionaires solely because of their real property’s worth raising because of price inflation has improved significantly. “The number of unintended millionaires in Dubai has actually 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).
The units offered in 2Q2025 reached to a total sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion filed in the 1st quarter and exhibits an all-time quarterly sales high, claims Knight Frank. It is likewise a 63% spike contrasted to the similar period last year.
