Dubai Remains Top Market Homes Transacted Over Us10 Mil Knight Frank
The Dubai real estate market is set to continue its strong performance, attracting attention from wealthy individuals. A recent report by Knight Frank, a leading property consultancy, revealed that high-net-worth individuals (HNWIs) from around the world are interested in investing in the city. The expected influx of $10.3 billion in private capital highlights the appeal of Dubai’s residential market.
The surge in demand has led to record-breaking sales of approximately 170,000 homes worth a total of $100 billion in 2024, according to Knight Frank. This trend has carried over into this year, with $35 billion in home sales achieved in the first three months of 2025. The average property prices have also risen by 19.1% to AED1,685 per square foot.
Moreover, Dubai takes the lead as the world’s most active market for high-end homes priced above $10 million. In 2024, there were 435 transactions in this segment, almost equal to the combined deals in London and New York. In the first quarter of 2025, 111 luxury homes were sold in Dubai for over $10 million.
Shehzad Jamal, Partner for Strategy and Consultancy at Knight Frank MENA (Middle East and North Africa) affirms, “The demand from ultra-rich buyers for luxury properties in Dubai continues to drive the city’s position as the world’s most active market for homes above $10 million.” Knight Frank’s latest report, “Destination Dubai,” surveyed 387 HNWI from the UK, India, Saudi Arabia, and East Asia (China, Hong Kong, and Singapore) to gauge their interest in UAE real estate. Over half of the respondents (52%) expressed an interest in purchasing property in the UAE.
According to Faisal Durrani, Partner and Head of Research for Knight Frank MENA, “Our research and experience demonstrate that the top HNWI segment shows the strongest inclination to invest in the UAE, underscoring the government’s efforts to make the city attractive to the world’s wealthy.” The survey shows that HNWI from Saudi Arabia and India have the strongest interest, with 66% and 41%, respectively, indicating a potential purchase in 2025. For the UK and East Asia HNWI, 17% of each group showed interest in buying property in Dubai this year.
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The survey also reveals that HNWI prefer residential properties over commercial and retail segments. Additionally, Dubai remains the top destination for investment among the respondents, with 71% naming it as their preferred emirate. Among the East Asia HNWI, those from Hong Kong showed the strongest appetite for property in Dubai, with 22% expressing interest in buying in 2025.