Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
According to Knight Frank, the number of Dubai home owners who have actually become millionaires exclusively because of their real estate’s value increasing because of rate inflation has increased significantly. “The number of unintentional millionaires in Dubai has increased by approximately 79.5% over the last 3 years,” notes Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
The Dubai non commercial market continued to smash reports in 2Q2025: Research by Knight Frank proves that 143 Dubai homes priced over US$ 10 million ($12.78 million) were marketed last quarter, surging 52% y-o-y.
Knight Frank additionally emphasize that among the US$ 10 million Dubai residences that sold last quarter, apartments outpaced villas for the very first time ever since 2Q2023, with 80 residences offered, compared to 63 villas.
Throughout Dubai, Knight Frank found that some 110,000 freehold homes were valued above US$ 1 million as at the start of 2Q2025. Collectively, the homes have an approximated worth of US$ 271 billion. Of such, some 37,000 of the units were bought by their proprietors for lower than $1 million.
The units offered in 2Q2025 amounted to an overall sales value of US$ 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 likewise a 63% spike compared to the same period in 2024.
A lot of the real estates belonging to “accidental millionaires” are located in Dubai’s leading 10 high-end places, such as Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah saw the highest possible amount of over-US$10 million real estate deals in 2Q2025, with 28 such sales completed.
Faisal Durrani, associate and head of analysis for Knight Frank MENA, notes a disparity among the expanding necessity for Dubai homes and offered stock. In 2024, Dubai welcomed virtually 170,000 new locals last year, while complete housing stock increased by simply over 30,000 units.
Of the 143 Dubai houses offered in 2Q2025, 22 brought rates going beyond US$ 25 million. Nonetheless, ordinary transaction rates throughout the industry continued to be fairly the same compared to the previous quarter, states Knight Frank. The firm’s Prime Index for Dubai, that tracks housing prices across 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani highlights that today supply of readily available homes inside certain price brackets is tightening swiftly. As an example, houses in the US$ 10 million cost range plunged by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of available homes plunged 85% in 2024, from 583 to just 86 units.
