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- Total value of US$ 10 million-plus sales in 2025 has already topped US$ 2 billion
- Highest price paid in Q3 was US$ 95.3 million for a mansion in Asora Bay
Dubai: Dubai’s high-end residential market has enjoyed another stellar quarter, with 103 homes sold for more than US$ 10 million in Q3, a 24% increase on Q3 2024, according to the latest data from global property consultancy Knight Frank.
Performance was driven by strong demand in the luxury segment, which saw 17 transactions priced over US$ 25 million – more than twice the number recorded in Q3 2024.
The latest quarterly figures pushed the number of deals in the US$ 10 million-plus bracket to 357 in the first nine months of the year, which equates to a 26% increase on the same period in 2024, when 282 homes over US$ 10 million were sold.
Total transaction values increased at an even greater rate than the number of deals, topping US$ 2 billion in Q3, representing year-on-year growth of 54%.
This increased activity in the ultra-luxury market saw high-value sales push up the average deal value in the US$ 10 million-plus segment to more than US$ 19.4 million, representing a 23.8% rise on 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.”
The highest price achieved in the third quarter was for a seven-bedroom mansion in Asora Bay by Meraas, in the La Mer community, which sold for US$ 95.3 million.
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.”
Dubai’s prime neighbourhoods
Knight Frank’s Prime Index for Dubai, which tracks values across 10 key luxury communities, averaged AED 3,767 psf in the quarter, representing an 8.5% uplift on Q3 2024 (AED 3,475 psf). Palm Jumeirah retained its crown as the busiest community for prime residential transactions in Q3 2025, accounting for 34% of the total number of deals. It was followed by Jumeirah 2, which accounted for 17% of US$ 10 million-plus purchases.
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.”
About Knight Frank
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, the Knight Frank network has 600+ offices across 50+ territories and more than 20,000 people. We advise clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the firm, please visit www.knightfrank.com.
In the MENA region, we have strategically positioned offices in key countries such as the United Arab Emirates, Saudi Arabia, Bahrain, Qatar and Egypt. For the past 16 years, we have been offering integrated residential and commercial real estate services, including transactional support, consultancy and management.
Understanding the unique intricacies of local markets is at the core of what we do, we blend this understanding with our global resources to provide you with tailored solutions that meet your specific needs. At Knight Frank, excellence, innovation and a genuine focus on our clients drive everything we do. We are not just consultants; we are trusted partners in property ready to support you on your real estate journey, no matter the scale of your endeavour.
