Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
Throughout Dubai, Knight Frank discovered that several 110,000 freehold homes were cost over US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an estimated worth of US$ 271 billion. Of such, some 37,000 of the units were purchased by their proprietors for less than $1 million.
The Dubai housing market carried on to shatter reports in 2Q2025: Research by Knight Frank shows that 143 Dubai homes marked up over US$ 10 million ($12.78 million) were sold last quarter, growing 52% y-o-y.
Of the 143 Dubai homes offered in 2Q2025, 22 fetched rates exceeding US$ 25 million. Nevertheless, average transaction rates across the industry stayed fairly unchanged contrasted to the last quarter, says Knight Frank. The firm’s Prime Index for Dubai, which tracks real estate costs throughout 10 key luxury communities, averaged AED3,850 psf ($1,339 psf) in 2Q2025.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani highlights that the present supply of readily available homes throughout certain price brackets is tightening quickly. For example, houses in the US$ 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 dropped 85% in 2024, from 583 to just 86 units.
According to Knight Frank, the number of Dubai homeowners that have become millionaires solely as a result of their real estate’s value rising as a result of cost inflation has improved significantly. “The number of accidental millionaires in Dubai has increased by an average of 79.5% over the last three years,” keeps in mind Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Many of the houses belonging to “unexpected millionaires” lie in Dubai’s top 10 luxury places, like Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. Specifically, Palm Jumeirah observed the greatest amount of over-US$10 million estate deals in 2Q2025, with 28 such transactions carried out.
Faisal Durrani, associate and head of analysis for Knight Frank MENA, monitors a disparity involving the growing necessity for Dubai homes and readily available source. In 2024, Dubai welcomed almost 170,000 new locals last year, while total real estate supply climbed by just over 30,000 units.
Knight Frank even emphasize that amongst the US$ 10 million Dubai residences that sold last quarter, apartments outpaced villas for the first time since 2Q2023, with 80 apartments offered, compared to 63 villas.
The units sold in 2Q2025 reached to an overall sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion reported in the very first quarter and stands for an all-time quarterly sales high, says Knight Frank. It is additionally a 63% spike compared to the similar period last year.
