Dubai’s $10m-plus home sales slow to 86 in Q3 2026

Dubai, UAE - Dubai recorded 86 residential transactions worth $10 million or more in the third quarter of 2026, with a combined value of $1.57 billion (AED 5.77 billion), according to new analysis from global property consultancy Knight Frank.

Thirteen of the sales were above US$25 million (AED 91.81 million). The quarter lifts the number of qualifying deals in the first nine months of the year to 412, up from 357 in the same period last year, with a combined value of about US$6.67 billion (AED 24.49 billion).

Third-quarter volumes were 34% below the 131 sales recorded in Q2 and lower than the 103 registered in Q3 2025.

Faisal Durrani, Partner and Head of Research, MENA, at Knight Frank, said the luxury market has continued to see high sales volumes “despite the exceptional geopolitical backdrop across the region”, although they are lower than at this time last year.

He said: “The biggest drag at the moment on overall market activity is the ongoing regional conflict. The somewhat ‘stop-start’ nature of the hostilities is predictably a confidence dampener.”

Prices across the city’s 10 prime neighbourhoods fell 5% between Q2 and Q3, the first decline since 2020, while total prime transaction volumes are 29.4% lower than a year ago, Durrani added.

Palm Jumeirah was the most active community for $10 million-plus sales in Q3, with 27 transactions worth $546.7 million (AED 2.01 billion). That is about 31% of luxury homes sold in the quarter and 35% of their total value.

The quarter’s largest single transaction, at $70.8 million (AED 260 million), was also on the island.

Louis Harding, Partner and Head of UAE Residential at Knight Frank, said prices on the island have eased by 9.1% over the past 12 months, making it “increasingly offering ‘good value’” at $1,112 (AED 4,083) per square foot.

Buyers are largely seeking permanent or holiday homes rather than looking to flip properties, he said, adding that overall sales volumes have fallen 37% compared with last summer. Harding also said a quarterly dip from Q2 is historically expected during the quieter summer months.

Jumeirah Second ranked second, with 10 sales totalling $162 million (AED 594.9 million), followed by Emirates Hills with seven sales worth $147.7 million (AED 542.5 million).

Dubai Hills Estate and Jumeirah Golf Estates each recorded six transactions, worth $156.6 million (AED 574.9 million) and $89.9 million (AED 330.1 million) respectively. Villas accounted for 55 of the 86 transactions, or about 64%.

Of the 86 sales, 73 fell in the $10 million to $25 million bracket, worth $1.07 billion (AED 3.93 billion). The remaining 13, above $25 million, generated $499.7 million (AED 1.84 billion).

These top-tier deals made up about 15% of $10 million-plus sales by number but nearly 32% by value. Palm Jumeirah recorded five of the 13, or about 38.5%, while Dubai Hills Estate and Emirates Hills each recorded two.

July led activity with 36 transactions worth $555.5 million (AED 2.04 billion). August followed with 32 sales worth $566 million (AED 2.08 billion), the highest monthly value of the quarter, and September registered 18 transactions worth $449 million (AED 1.65 billion).

Despite falling monthly volumes, the value of sales above $25 million rose from $102.4 million (AED 376.1 million) in July to $166 million (AED 609.8 million) in August and $231.3 million (AED 849.5 million) in September, when they made up about 52% of the month’s total.