According to the most recent data from global property consultancy Knight Frank, Dubai’s high-end residential market had another fantastic quarter, with 103 residences sold for more over $10 million in Q3, representing a 24% increase over Q3 2024.
Strong demand in the premium market resulted in 17 purchases priced above $25 million, more than doubling the number recorded in Q3 2024.
The latest quarterly numbers increased the number of deals in the $10 million-plus group to 357 in the first nine months of the year, representing a 26% rise over the same time in 2024, when 282 properties above US$ 10 million were sold.
In Q3, overall transaction values reached $2 billion, a 54% year-over-year increase that outpaced the number of deals.
High-priced deals and increased activity in the ultra-luxury sector drove the average deal value in the $10 million+ segment to more than $19.4 million, a 23.8% increase from Q3 2024.
Faisal Durrani, Partner – Head of Research, MENA, said: “The fact that the growth in total transaction values for US$ 10 million homes is rising faster that the number of deals is a stark indication of how fast prices are rising in this exclusive segment of the market. Dubai’s luxury market has cemented its status as a safe haven for international and local buyers. It looks set to be another record-breaking year for the US$ 10 million-plus homes market, following the 435 deals registered during 2024.”
A seven-bedroom home at Asora Bay by Meraas in the La Mer neighborhood sold for $95.3 million, the highest price in the third quarter.
Will McKintosh, Regional Partner – Head of Residential, MENA, added: “Community living and exclusivity remain a big draw for high-net-worth-individuals looking to purchase in Dubai. La Mer exemplifies this with its combination of wellness-focused beachfront living, extensive amenities and proximity to prime retail and leisure destinations. Destination communities like La Mer place a strong emphasis on lifestyle and world-class amenities, which strikes a chord with domestic and international buyers.”
The best neighborhoods in Dubai
Knight Frank’s Prime Index for Dubai, which tracks prices in ten major affluent locations, averaged AED3,767 per square foot for the quarter, up 8.5% from Q3 2024 (AED3,475 per square foot). Palm Jumeirah remained the top neighborhood for high-end home transactions, accounting for 34% of all acquisitions in Q3 2025. Jumeirah 2 followed next, accounting for 17% of transactions worth more than $10 million USD.
Durrani concluded: “Our analysis shows global HNWI budgets considering a home purchase in Dubai stand at US$ 32 million, topping out at US$ 45.7 million for Saudi nationals. Overall, 15% of HNWI from Saudi, the UK, India, China, Hong Kong and Singapore are prepared to spend upwards of US$ 80 million on a home in the city this year, and there remains a clear gap in the market of uber-luxury housing.”
