Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
According to the report, homes stay the biggest draw for global HNWI as compared to the commercial and retail sections. Additionally, Dubai remains the leading target location, with 71% of respondents labeling Dubai as their liked emirate.
“As we have actually found in our research in former years and mirroring the expertise of our teams, the strongest appetite for a property acquisition in the UAE comes from those with the largest assets and is a testimony to the success of the government’s programmes to enhance the emirate’s appearance as an area for the entire world’s wealthy to live and invest in,” says Faisal Durrani, affiliate and head of research study for Knight Frank MENA.
The steady interest has boosted activity in Dubai’s housing market, that registered record residential sales of almost 170,000 homes in 2024 worth a total of US$ 100 billion, claims Knight Frank. That energy has carried over into this year, with AED100 billion ($35 billion) in home sales already reached as of March 4. Dubai real estate fees have also persisted to increase, rising 19.1% in 2024 to hit approximately AED1,685 psf.
Saudi Arabia and India HNWIs recorded the best passion, with 66% and 41% of respondents showing an intention to buy a UAE property in 2025. For the UK and East Asia HNWIs checked, 17% of each cohort indicated a potential UAE real property investment this year.
At the same time, Dubai remains the industry’s busiest local market available of homes valued over US$ 10 million, the report states. Last year, a sum of 435 transactions in this bracket were reported in Dubai, nearly amounting to the amount of such deals record in London and New York incorporated. In Between January and March this year, 111 homes were sold for more than US$ 10 million in Dubai.
Complying with strong event in 2024, the Dubai real estate market is expected to carry on drawing in demand from amongst the well-off. According to a research study report by real estate consultancy Knight Frank, high-net-worth individuals (HWNIs) surveyed globally have shown attraction in acquiring a real estate in Dubai, with an approximated US$ 10.3 billion ($13 billion) in private capital potentially being directed towards the emirate’s residential market.
“The super-rich remain laser-focused on acquiring deluxe homes in the city, and this relentless demand has actually been a critical driver of Dubai being the world’s busiest US$ 10 million+ homes market place for the second year running,” claims Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Knight Frank adds that amongst the East Asia HNWIs, those in Hong Kong showed the highest appetite, with 22% of participants indicating the intent to buy UAE estate in 2025.
In its most current Destination Dubai statement, Knight Frank checked 387 global HNWI across the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to calculate their demand for investing in United Arab Emirates real estate. Over fifty percent of the participants (52%) showed they want purchasing property in the UAE.
