Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
The units marketed in 2Q2025 amounted to an overall sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion reported in the first quarter and stands for an all-time quarterly sales high, states Knight Frank. It is also a 63% spike compared to the similar period in 2024.
Knight Frank also highlights that among the US$ 10 million Dubai residences that marketed last quarter, apartments outpaced villas for the very first time ever since 2Q2023, with 80 residences marketed, compared to 63 villas.
Of the 143 Dubai residences marketed in 2Q2025, 22 fetched costs surpassing US$ 25 million. Still, average transaction rates throughout the industry remained relatively unmodified compared to the last quarter, states Knight Frank. The firm’s Prime Index for Dubai, that tracks real estate prices throughout 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
Across Dubai, Knight Frank discovered that some 110,000 freehold homes were cost over US$ 1 million as at the start of 2Q2025. Collectively, the homes have an estimated worth of US$ 271 billion. Of such, some 37,000 of the units were acquired by their owners for less than $1 million.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani emphasize that the present source of readily available homes inside certain price brackets is narrowing quickly. For example, houses in the US$ 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 only 86 units.
According to Knight Frank, the number of Dubai property owners who have ended up being millionaires exclusively as a result of their real estate’s value raising as a result of cost inflation has increased significantly. “The number of unexpected millionaires in Dubai has increased by an average of 79.5% over the previous three years,” keeps in mind Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Faisal Durrani, partner and head of analysis for Knight Frank MENA, watches a difference involving the growing necessity for Dubai homes and available supply. In 2024, Dubai accepted almost 170,000 brand-new homeowners last year, while complete real estate stock climbed by just over 30,000 units.
A number of the residences belonging to “unintended millionaires” are located in Dubai’s top 10 deluxe communities, like Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Specifically, Palm Jumeirah observed the highest possible amount of over-US$10 million real estate deals in 2Q2025, with 28 such purchases done.
The Dubai residential market continued to smash logs in 2Q2025: Research by Knight Frank presents that 143 Dubai homes valued over US$ 10 million ($12.78 million) were offered past quarter, surging 52% y-o-y.
