Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
A number of the residences belonging to “accidental millionaires” are located in Dubai’s top 10 high-end places, for instance, Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah saw the highest possible amount of over-US$10 million property special offers in 2Q2025, with 28 such deals carried out.
Throughout Dubai, Knight Frank located that some 110,000 freehold homes were cost over US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an estimated worth of US$ 271 billion. Of these, some 37,000 of the units were acquired by their owners for lower than $1 million.
According to Knight Frank, the volume of Dubai property owners who have come to be millionaires solely because of their real estate’s value rising as a result of cost inflation has improved significantly. “The amount of unintentional millionaires in Dubai has increased by an average of 79.5% over the previous three years,” notes Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
The Dubai non commercial market continued to smash records in 2Q2025: Research by Knight Frank shows that 143 Dubai homes marked up over US$ 10 million ($12.78 million) were offered past quarter, surging 52% y-o-y.
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The units marketed in 2Q2025 amounted to a complete sales value of US$ 2.6 billion. This is 37% greater than the US$ 1.9 billion filed in the 1st quarter and represents an all-time quarterly sales high, claims Knight Frank. It is additionally a 63% spike compared to the same period in 2024.
Knight Frank even highlights that amongst the US$ 10 million Dubai residences that sold last quarter, apartments outpaced villas for the very first time since 2Q2023, with 80 houses marketed, contrasted to 63 villas.
Faisal Durrani, partner and head of research study for Knight Frank MENA, watches a disparity involving the expanding necessity for Dubai homes and readily available source. In 2024, Dubai invited virtually 170,000 new locals last year, while total housing stock rose by just over 30,000 units.
Of the 143 Dubai homes sold in 2Q2025, 22 brought prices going beyond US$ 25 million. Nonetheless, average transaction rates across the industry remained relatively unmodified contrasted to the last quarter, says Knight Frank. The firm’s Prime Index for Dubai, that tracks real estate rates throughout 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani highlights that today source of offered homes throughout certain price brackets is tightening rapidly. As an example, houses in the US$ 10 million price tier fell by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the variety of readily available homes dropped 85% in 2024, from 583 to only 86 units.
