Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
Across Dubai, Knight Frank discovered that several 110,000 estate homes were worth above US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an estimated value of US$ 271 billion. Of such, some 37,000 of the units were acquired by their proprietors for less than $1 million.
Faisal Durrani, partner and head of research for Knight Frank MENA, monitors a variation amongst the growing interest for Dubai homes and available stock. In 2024, Dubai welcomed nearly 170,000 new locals last year, whilst total real estate supply increased by simply over 30,000 units.
Knight Frank also highlights that among the US$ 10 million Dubai residences that sold last quarter, apartments outpaced villas for the first time ever since 2Q2023, with 80 houses sold, compared to 63 villas.
The Dubai household industry proceeded to smash reports in 2Q2025: Research by Knight Frank shows that 143 Dubai homes priced over US$ 10 million ($12.78 million) were marketed last quarter, surging 52% y-o-y.
The units offered in 2Q2025 reached to an overall sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion reported in the 1st quarter and represents an all-time quarterly sales high, claims Knight Frank. It is also a 63% spike compared to the same period last year.
According to Knight Frank, the amount of Dubai homeowners that have actually come to be millionaires entirely as a result of their real estate’s worth rising as a result of rate inflation has increased significantly. “The number of unintentional millionaires in Dubai has increased by approximately 79.5% over the last 3 years,” notes Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani highlights that today source of readily available homes inside certain price braces is narrowing quickly. For instance, 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 offered homes plunged 85% in 2024, from 583 to just 86 units.
Of the 143 Dubai residences marketed in 2Q2025, 22 fetched prices going beyond US$ 25 million. Still, average transaction rates throughout the industry remained reasonably unmodified compared to the previous quarter, states Knight Frank. The firm’s Prime Index for Dubai, which tracks housing rates throughout 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
Most of the properties belonging to “unintentional millionaires” lie in Dubai’s top 10 high-end communities, for instance, Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Particularly, Palm Jumeirah found the highest possible number of over-US$10 million real property special offers in 2Q2025, with 28 this kind of purchases completed.
