Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
A number of the real estates belonging to “accidental millionaires” lie in Dubai’s leading 10 luxury communities, like Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Specifically, Palm Jumeirah viewed the greatest number of over-US$10 million estate special offers in 2Q2025, with 28 this kind of deals done.
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Of the 143 Dubai homes sold in 2Q2025, 22 fetched rates exceeding US$ 25 million. Nonetheless, typical transaction prices across the market continued to be reasonably unchanged compared to the last quarter, states Knight Frank. The firm’s Prime Index for Dubai, that tracks housing costs throughout 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
The units sold in 2Q2025 reached to an overall sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion filed in the 1st quarter and represents an all-time quarterly sales high, says Knight Frank. It is also a 63% spike compared to the same period in 2024.
Throughout Dubai, Knight Frank discovered that some 110,000 freehold homes were valued above US$ 1 million as at the start of 2Q2025. Collectively, the homes have an estimated worth of US$ 271 billion. Of these, some 37,000 of the units were purchased by their proprietors for less than $1 million.
The Dubai housing market proceeded to smash logs in 2Q2025: Research by Knight Frank proves that 143 Dubai homes valued over US$ 10 million ($12.78 million) were sold last quarter, rising 52% y-o-y.
According to Knight Frank, the number of Dubai homeowners that have ended up being millionaires entirely as a result of their estate’s value rising as a result of cost inflation has improved significantly. “The number of unexpected millionaires in Dubai has actually increased by an average of 79.5% over the last three years,” notes Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Faisal Durrani, partner and head of research for Knight Frank MENA, observes a variation amongst the growing necessity for Dubai homes and readily available source. In 2024, Dubai invited nearly 170,000 brand-new locals last year, while total real estate stock rose by just over 30,000 units.
Knight Frank also emphasize that amongst the US$ 10 million Dubai residences that sold last quarter, apartments outpaced villas for the first time since 2Q2023, with 80 residences sold, contrasted to 63 villas.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani accentuate that the present supply of available homes within certain price braces is narrowing swiftly. For example, homes in the US$ 10 million rate range dropped by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of readily available homes plunged 85% in 2024, from 583 to only 86 units.
