Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
Knight Frank even feature that among the US$ 10 million Dubai residences that offered last quarter, apartments outpaced villas for the first time ever since 2Q2023, with 80 residences offered, compared to 63 villas.
Of the 143 Dubai houses offered in 2Q2025, 22 brought prices going beyond US$ 25 million. Nonetheless, ordinary transaction costs across the industry continued to be reasonably unchanged compared to the previous quarter, says Knight Frank. The firm’s Prime Index for Dubai, that tracks housing rates across 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani emphasize that the present supply of available homes throughout certain price braces is narrowing rapidly. For instance, homes in the US$ 10 million price range fell by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the variety of readily available homes plummeted 85% in 2024, from 583 to just 86 units.
Bloomsbury Residences floor plan
The Dubai residential market carried on to smash reports in 2Q2025: Research by Knight Frank proves that 143 Dubai homes priced over US$ 10 million ($12.78 million) were sold last quarter, surging 52% y-o-y.
Throughout Dubai, Knight Frank discovered that some 110,000 estate homes were cost over US$ 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 bought by their proprietors for less than $1 million.
The units marketed in 2Q2025 reached to a complete sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion recorded 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.
According to Knight Frank, the number of Dubai house owners that have become millionaires entirely as a result of their estate’s worth rising because of price inflation has increased significantly. “The number of unintended millionaires in Dubai has actually increased by approximately 79.5% over the past 3 years,” notes Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
A lot of the houses belonging to “unintended millionaires” rise in Dubai’s top 10 high-end areas, including Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah found the highest possible amount of over-US$10 million estate special offers in 2Q2025, with 28 such purchases done.
Faisal Durrani, partner and head of analysis for Knight Frank MENA, observes a disparity between the expanding interest for Dubai homes and readily available supply. In 2024, Dubai welcomed nearly 170,000 new locals last year, while overall housing supply climbed by simply over 30,000 units.
