Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
In its newest Destination Dubai report, Knight Frank checked 387 international HNWI around the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to calculate their desire for investing in United Arab Emirates property. Over half of the participants (52%) suggested they want purchasing real estate in the UAE.
Adhering to solid activity in 2024, the Dubai property industry is expected to keep on bring in demand from amongst the well-off. According to a research report by property consultancy Knight Frank, high-net-worth individuals (HWNIs) evaluated globally have shown enthusiasm in buying a real estate in Dubai, with an approximated US$ 10.3 billion ($13 billion) in private capital possibly being carried towards the emirate’s housing market.
“As we have identified in our research in previous years and mirroring the expertise of our teams, the highest appetite for a property purchase in the UAE originates from those with the most wealth and is a testimony to the success of the government’s programmes to enhance the emirate’s appearance as a place for the entire world’s affluent to settle and invest in,” claims Faisal Durrani, affiliate and head of research study for Knight Frank MENA.
“The super-rich remain laser-focused on buying luxury properties in the city, and this unrelenting interest has been a vital driver of Dubai being the world’s busiest US$ 10 million+ homes market place for the second year running,” says Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
According to the report, residential properties remain the major draw for international HNWI as contrasted to the commercial and retail sections. In addition, Dubai continues to be the top target place, with 71% of participants identifying Dubai as their favored emirate.
Knight Frank includes that among the East Asia HNWIs, those in Hong Kong presented the highest yearning, with 22% of respondents signalling the intention to buy UAE real estate in 2025.
At the same time, Dubai stays the industry’s busiest market up for sale of homes marked up over US$ 10 million, the report states. in 2025, a total of 435 purchases in this bracket were documented in Dubai, almost equalling the quantity of such deals registered in London and New York incorporated. Between January and March this year, 111 residences were offered for over US$ 10 million in Dubai.
Saudi Arabia and India HNWIs registered the greatest rate of interest, with 66% and 41% of respondents showing an intention to acquire a UAE real estate in 2025. For the UK and East Asia HNWIs surveyed, 17% of each associate indicated a potential UAE property purchase this year.
The consistent interest has boosted activity in Dubai’s housing market, that registered record residential sales of almost 170,000 homes in 2024 worth a total of US$ 100 billion, states Knight Frank. That energy has actually carried over right into this year, with AED100 billion ($35 billion) in home sales already achieved since March 4. Dubai real estate values have also persisted to climb, rising 19.1% in 2024 to reach approximately AED1,685 psf.
