Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
According to Knight Frank, the number of Dubai house owners who have come to be millionaires only because of their estate’s worth rising as a result of rate inflation has increased significantly. “The number of unintended millionaires in Dubai has increased by approximately 79.5% over the previous 3 years,” notes Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Faisal Durrani, associate and head of research for Knight Frank MENA, notes a disparity involving the growing demand for Dubai homes and readily available stock. In 2024, Dubai welcomed nearly 170,000 new residents last year, whilst complete real estate stock climbed by simply over 30,000 units.
The Dubai non commercial market continued to smash records in 2Q2025: Research by Knight Frank proves that 143 Dubai homes priced over US$ 10 million ($12.78 million) were sold past quarter, growing 52% y-o-y.
Knight Frank also feature that amongst the US$ 10 million Dubai residences that offered last quarter, apartments outpaced villas for the first time since 2Q2023, with 80 apartments marketed, contrasted to 63 villas.
Across Dubai, Knight Frank discovered that several 110,000 freehold homes were valued above US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an estimated value of US$ 271 billion. Of these, some 37,000 of the units were bought by their owners for lower than $1 million.
A lot of the real estates belonging to “unintended millionaires” stand in Dubai’s top 10 high-end communities, including Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah found the highest amount of over-US$10 million property special offers in 2Q2025, with 28 such transactions done.
The units marketed in 2Q2025 amounted to a complete sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion recorded in the very first quarter and represents an all-time quarterly sales high, says Knight Frank. It is likewise a 63% spike contrasted to the similar period last year.
Of the 143 Dubai houses marketed in 2Q2025, 22 brought rates going beyond US$ 25 million. Nevertheless, ordinary transaction prices across the industry stayed fairly unmodified contrasted to the previous quarter, states Knight Frank. The firm’s Prime Index for Dubai, which tracks housing prices across 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani accentuate that today source of offered homes throughout certain price braces is tightening quickly. For example, homes in the US$ 10 million rate range plunged by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of readily available homes plunged 85% in 2024, from 583 to only 86 units.
