Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
According to Knight Frank, the amount of Dubai homeowners that have become millionaires exclusively as a result of their property’s value increasing because of rate inflation has increased significantly. “The amount of unintentional millionaires in Dubai has actually increased by approximately 79.5% over the last 3 years,” keeps in mind Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani highlights that the present supply of available homes throughout certain price brackets is narrowing swiftly. For instance, houses in the US$ 10 million rate range slipped by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the variety of offered homes plunged 85% in 2024, from 583 to only 86 units.
Across Dubai, Knight Frank located that several 110,000 property homes were worth above US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an approximated value of US$ 271 billion. Of these, some 37,000 of the units were purchased by their proprietors for less than $1 million.
The Dubai housing industry carried on to shatter records in 2Q2025: Research by Knight Frank proves that 143 Dubai homes priced over US$ 10 million ($12.78 million) were offered last quarter, surging 52% y-o-y.
Knight Frank also highlights that amongst the US$ 10 million Dubai residences that offered last quarter, apartments outpaced villas for the very first time since 2Q2023, with 80 apartments offered, compared to 63 villas.
A number of the real estates belonging to “unintended millionaires” rise in Dubai’s top 10 luxury communities, like Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Specifically, Palm Jumeirah observed the highest number of over-US$10 million real property deals in 2Q2025, with 28 such deals carried out.
The units offered in 2Q2025 reached to a total sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion reported in the very first quarter and exhibits an all-time quarterly sales high, claims Knight Frank. It is additionally a 63% spike compared to the similar period in 2024.
Faisal Durrani, associate and head of research for Knight Frank MENA, observes a disparity among the expanding necessity for Dubai homes and available source. In 2024, Dubai accepted almost 170,000 brand-new locals last year, while complete housing stock climbed by simply over 30,000 units.
Of the 143 Dubai residences sold in 2Q2025, 22 brought prices exceeding US$ 25 million. Nevertheless, average transaction costs throughout the industry stayed fairly unchanged compared to the last quarter, claims Knight Frank. The firm’s Prime Index for Dubai, which tracks real estate rates across 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
