Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
Knight Frank includes that amongst the East Asia HNWIs, those in Hong Kong presented the highest desire, with 22% of respondents signifying the aim to acquire UAE property in 2025.
Following solid event in 2024, the Dubai realty market is expected to continue attracting demand from among the wealthy. According to a research study report by property consultancy Knight Frank, high-net-worth individuals (HWNIs) evaluated around the world have suggested attraction in purchasing a real estate in Dubai, with an approximated US$ 10.3 billion ($13 billion) in private capital most likely being carried towards the emirate’s non commercial market.
The stable interest has actually boosted activity in Dubai’s non commercial market, which registered record residence sales of nearly 170,000 homes last year worth a total of US$ 100 billion, says Knight Frank. That momentum has actually rollovered right into this year, with AED100 billion ($35 billion) in home sales already achieved as of March 4. Dubai real estate fees have also persisted to rise, rising 19.1% in 2024 to reach an average of AED1,685 psf.
At the same time, Dubai stays the industry’s busiest local market up for sale of homes marked up over US$ 10 million, the report states. Last year, a sum of 435 deals in this bracket were documented in Dubai, nearly equalling the amount of such deals record in London and New York incorporated. Between January and March this year, 111 homes were reselled for around US$ 10 million in Dubai.
According to the report, houses remain the major draw for international HNWI as contrasted to the commercial and retail sectors. Additionally, Dubai remains the leading target place, with 71% of participants calling Dubai as their liked emirate.
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Saudi Arabia and India HNWIs recorded the greatest passion, with 66% and 41% of participants showing a purpose to purchase a UAE estate in 2025. For the UK and East Asia HNWIs checked, 17% of each associate showed a potential UAE property purchase this year.
In its latest Location Dubai record, Knight Frank checked 387 worldwide HNWI across the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to assess their desire for investing in United Arab Emirates realty. Over fifty percent of the participants (52%) suggested they are interested in purchasing real estate in the UAE.
“The super-rich continue to be laser-focused on purchasing deluxe properties in the city, and this relentless demand has actually been a vital driver of Dubai being the globe’s busiest US$ 10 million+ homes market place for the 2nd year running,” states Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
“As we have identified in our research in past years and mirroring the experience of our teams, the strongest appetite for a real estate acquisition in the UAE originates from those with the largest wealth and is a testament to the success of the government’s programmes to reinforce the emirate’s appearance as a location for the entire world’s well-off to settle and invest in,” claims Faisal Durrani, associate and head of research study for Knight Frank MENA.
