Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
Faisal Durrani, associate and head of research for Knight Frank MENA, monitors a variation involving the growing necessity for Dubai homes and available stock. In 2024, Dubai invited virtually 170,000 brand-new residents last year, whilst complete housing supply rose by simply over 30,000 units.
Knight Frank also emphasize that among the US$ 10 million Dubai residences that marketed last quarter, apartments outpaced villas for the very first time ever since 2Q2023, with 80 residences offered, compared to 63 villas.
Across Dubai, Knight Frank discovered that several 110,000 estate homes were cost above US$ 1 million as at the start 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 owners for lower than $1 million.
According to Knight Frank, the volume of Dubai house owners that have ended up being millionaires exclusively as a result of their estate’s worth increasing as a result of price inflation has increased significantly. “The number of unintended millionaires in Dubai has increased by approximately 79.5% over the last three years,” keeps in mind Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani emphasize that the present number of readily available homes within certain price brackets is narrowing swiftly. For instance, homes in the US$ 10 million rate tier fell by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of offered homes plummeted 85% in 2024, from 583 to just 86 units.
Of the 143 Dubai residences sold in 2Q2025, 22 brought rates going beyond US$ 25 million. Nonetheless, typical transaction costs across the market stayed fairly unchanged compared to the last quarter, says Knight Frank. The firm’s Prime Index for Dubai, that tracks housing costs across 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
Union Square Residences floor plan
The units offered in 2Q2025 amounted to a total sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion recorded in the first quarter and exhibits an all-time quarterly sales high, states Knight Frank. It is also a 63% spike contrasted to the same period in 2024.
The Dubai residential market continued to shatter logs in 2Q2025: Research by Knight Frank proves that 143 Dubai homes priced over US$ 10 million ($12.78 million) were offered past quarter, growing 52% y-o-y.
A number of the real estates belonging to “unintended millionaires” are located in Dubai’s leading 10 high-end communities, for instance, Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Particularly, Palm Jumeirah saw the highest possible number of over-US$10 million real estate special offers in 2Q2025, with 28 this kind of purchases done.
