Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
According to Knight Frank, the amount of Dubai home owners that have actually ended up being millionaires exclusively as a result of their property’s value rising as a result of cost inflation has improved significantly. “The number of accidental millionaires in Dubai has increased by approximately 79.5% over the last three years,” keeps in mind Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Many of the residences belonging to “unintentional millionaires” lie in Dubai’s leading 10 luxury areas, including Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah saw the greatest number of over-US$10 million real property special offers in 2Q2025, with 28 such sales carried out.
The units offered in 2Q2025 reached to a complete sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion recorded in the 1st quarter and represents an all-time quarterly sales high, says Knight Frank. It is also a 63% spike contrasted to the same period in 2024.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani emphasize that the present number of readily available homes within certain price braces is tightening quickly. For example, houses in the US$ 10 million rate tier plunged by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the variety of available homes dropped 85% in 2024, from 583 to only 86 units.
Of the 143 Dubai homes sold in 2Q2025, 22 fetched costs surpassing US$ 25 million. Still, average transaction prices across the industry continued to be relatively unmodified contrasted to the last quarter, claims Knight Frank. The firm’s Prime Index for Dubai, that tracks housing rates throughout 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
Across Dubai, Knight Frank found that some 110,000 estate homes were valued above US$ 1 million as at the start of 2Q2025. Collectively, the homes have an approximated value of US$ 271 billion. Of these, some 37,000 of the units were acquired by their owners for lower than $1 million.
Knight Frank additionally emphasize that among the US$ 10 million Dubai residences that sold last quarter, apartments outpaced villas for the first time ever since 2Q2023, with 80 residences sold, contrasted to 63 villas.
The Dubai residential industry proceeded to shatter reports in 2Q2025: Research by Knight Frank shows that 143 Dubai homes priced over US$ 10 million ($12.78 million) were offered past quarter, surging 52% y-o-y.
Faisal Durrani, partner and head of research for Knight Frank MENA, observes a difference involving the expanding interest for Dubai homes and offered supply. In 2024, Dubai accepted virtually 170,000 new locals last year, whilst overall housing supply rose by just over 30,000 units.
