Dubai’s high-end residential market has enjoyed another stellar quarter, with 103 homes sold for more than $10 million in Q3, a 24% increase on Q3 2024, according to the latest data from global property consultancy Knight Frank.
Strong demand in the luxury segment saw 17 transactions priced over $25 million – more than twice the number recorded in Q3 2024.
The latest quarterly figures pushed the number of deals in the $10 million-plus bracket to 357 in the first nine months of the year, which equates to a 26% increase on the same period in 2024, when 282 homes over US$ 10 million were sold.
In Q3, total transaction values surpassed $2 billion, a 54% year-over-year increase, which was even faster than the number of deals.
Due to high-value transactions and the increased activity in the ultra-luxury sector, the average deal value in the $10 million+ segment grew to over $19.4 million, a 23.8% increase over Q3 2024.
Faisal Durrani, Partner – Head of Research, MENA, said: “The fact that the growth in total transaction values for US$ 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.”
A seven-bedroom villa in Asora Bay by Meraas, in the La Mer neighborhood, sold for $95.3 million, the highest price in the third quarter.
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.”
The best neighborhoods in Dubai
Knight Frank’s Prime Index for Dubai, which measures prices in ten major upscale areas, averaged AED3,767 per square foot for the quarter, an 8.5% increase over Q3 2024 (AED3,475 per square foot). With 34% of all purchases in Q3 2025, Palm Jumeirah maintained its position as the busiest neighborhood for high-end home transactions. Jumeirah 2 came next, accounting for 17% of transactions totaling more than $10 million USD.
Durrani concluded: “Our analysis shows global HNWI budgets considering a home purchase in Dubai stand at US$ 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.”