Knight Frank: Dubai’s USD 10M+ luxury homes surge 24% in Q3 2025

Dubai, UAE – October 10, 2025: Dubai’s ultra-luxury property market continues to surge, with 103 homes priced above USD 10 million sold in Q3 2025, marking a 24% increase compared to the same quarter last year, according to the latest report from global property consultancy Knight Frank.

Total transaction values in the USD 10 million-plus segment reached USD 2 billion, representing a remarkable 54% year-on-year increase, as demand from high-net-worth individuals (HNWIs) for exclusive residences continued to rise across the city’s prime neighborhoods.

A record-setting year for Dubai’s high-end residential market

The strong quarterly results bring the total number of USD 10 million-plus transactions in 2025 to 357 homes, a 26% increase compared to the 282 deals recorded during the same period in 2024.

Knight Frank reported that 17 of these Q3 transactions were for properties priced above USD 25 million, more than double the volume recorded in Q3 2024, signaling heightened demand in Dubai’s uppermost luxury tier.

The average transaction value in this segment climbed to USD 19.4 million, a 23.8% increase year-on-year, underlining both the escalation in pricing and the growing scale of high-value purchases.

“The fact that the growth in total transaction values for USD 10 million homes is rising faster than the number of deals is a stark indication of how fast prices are rising in this exclusive segment of the market,” said Faisal Durrani, Partner and Head of Research, MENA, at Knight Frank.

“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 USD 10 million-plus homes market, following the 435 deals registered during 2024.”

Asora Bay mansion tops Q3 sales at USD 95.3 million

The highest-value transaction in Q3 was a seven-bedroom mansion in Asora Bay by Meraas, located in the La Mer community, which sold for USD 95.3 million, reinforcing La Mer’s standing among Dubai’s most exclusive waterfront enclaves.

“Community living and exclusivity remain a big draw for high-net-worth individuals looking to purchase in Dubai,” said Will McKintosh, Regional Partner and Head of Residential, MENA, at Knight Frank.

“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.”

Prime neighborhoods continue to outperform

According to Knight Frank’s Prime Index, which tracks 10 leading luxury communities across Dubai, average prime prices reached AED 3,767 per sq ft (USD 1,025 per sq ft) in Q3 2025, an 8.5% increase from AED 3,475 per sq ft (USD 945 per sq ft) in Q3 2024.

Palm Jumeirah maintained its position as Dubai’s busiest luxury market, accounting for 34% of all USD 10 million-plus transactions, followed by Jumeirah 2, which represented 17% of sales in this bracket.

Wealthy buyers target Dubai for ultra-luxury homes

Knight Frank’s analysis shows that global HNWIs are setting their sights on Dubai’s luxury sector with increasing enthusiasm.

“Our analysis shows global HNWI budgets considering a home purchase in Dubai stand at USD 32 million, topping out at USD 45.7 million for Saudi nationals,” said Durrani.

“Overall, 15% of HNWI from Saudi, the UK, India, China, Hong Kong, and Singapore are prepared to spend upwards of USD 80 million on a home in the city this year, and there remains a clear gap in the market of uber-luxury housing.”

Dubai’s luxury segment solidifies global appeal

With transaction values growing faster than volumes and a rising appetite for homes above USD 25 million, Dubai’s luxury real estate sector continues to set global benchmarks. The emirate’s strong performance is being driven by sustained foreign investment, a stable economy, and the appeal of lifestyle-focused communities like La Mer, Palm Jumeirah, and Jumeirah 2.

As Knight Frank’s latest findings suggest, Dubai is firmly positioned to close 2025 as one of the world’s top-performing ultra-luxury property markets, further reinforcing its role as a global hub for wealth, lifestyle, and investment security.