Dubai: The luxury property market in Dubai has reached a new milestone, with sales of homes priced at $10 million and above hitting a record $2.6 billion in the second quarter of 2025, according to real estate consultancy Knight Frank.
Palm Jumeirah and La Mer emerged as the top choices for ultra-high-net-worth investors, leading the list of premium property destinations.
Between April and June 2025, Dubai recorded 143 transactions in the $10 million+ category — a 52% increase compared to Q2 2024. Notably, 22 of these transactions exceeded $25 million.
This strong performance follows the first quarter of 2025, which recorded $1.9 billion in high-end home sales. Year-on-year, the Q2 figures represent a 63% jump from the same period in 2024.
Developers are responding swiftly to the surge in demand, with several new luxury projects underway, including Trump Tower by Dar Global, Burj Azizi, and the residential extension of Jumeirah Emirates Towers. The Akala twin towers by Arada also add to the growing portfolio of upscale developments, especially around Sheikh Zayed Road.
Faisal Durrani, Head of Research for MENA at Knight Frank, highlighted the remarkable growth:
“The total value of all homes sold in Dubai has increased by a staggering 282% since 2020. In 2024 alone, the city recorded 435 sales of $10 million+ homes, nearly matching the combined total of similar sales in London and New York.”
Durrani added that Dubai held its title as the world’s busiest market for ultra-luxury homes in Q1 2025 as well.
