Sales of $10 million+ homes in Dubai surged to an all-time high of $2.6 billion in Q2 2025, according to the latest report from Knight Frank. This marks a 37% increase from Q1 ($1.9B) and a 63% jump compared to Q2 2024, solidifying Dubai’s position as the world’s top luxury real estate market.
Key Highlights of Dubai’s Ultra-Luxury Home Sales
✔ 143 sales above $10M – a 52% YoY increase, including 22 transactions over $25M
✔ Apartments outsold villas (80 vs. 63) for the first time since Q2 2023
✔ Top locations: Palm Jumeirah (28 sales), La Mer (23), and Downtown Dubai (16)
✔ Prime property prices averaged Dh3,850/sqft – up 18% YoY but stable from Q1
Why Dubai’s Luxury Market is Booming
Faisal Durrani, Head of Research at Knight Frank MENA, attributes the growth to rising demand from global ultra-high-net-worth individuals (UHNWIs). Dubai remains the world’s busiest $10M+ property market, nearly matching London and New York combined in 2024.

Dubai’s “Accidental Millionaires” – A Surge in $1M+ Homes
- 110,000 homes (17.7% of total sales since 2002) now valued above $1M
- 37,000 are “accidental millionaires” – buyers who purchased below $1M but now enjoy inflation-driven gains
- Palm Jumeirah leads with 9,071 $1M+ homes, followed by Downtown (8,376) and Dubai Hills Estate (6,138)
Supply Shortage Fuels Investment Opportunities
Despite 170,000 new residents in 2024, Dubai added only 30,000 new homes, widening the supply-demand gap. Key findings:
🔹 $10M+ listings dropped 39% (4,119 → 2,493)
🔹 $25M+ supply fell 85% (583 → 86)

Shehzad Jamal, Partner at Knight Frank MENA, notes: “Dubai’s market is maturing, with more buyers holding properties as long-term investments or primary residences.”
Future Outlook: Strong Growth Ahead
With 350,000+ homes expected by 2029, Dubai’s luxury real estate market remains a high-return opportunity for investors and developers.
Looking to invest in Dubai’s booming luxury property market? [Contact us today] for exclusive insights and premium listings!