Dubai Tops Global Luxury Property Market with $10B Investment Boom
Dubai has once again claimed the top spot in the global luxury real estate market, leading for the second year in a row in transactions over $10 million. In 2024, the city recorded 435 sales in this category—nearly equal to the combined sales of London and New York. Momentum continued into early 2025, with 111 luxury homes sold in Q1, the highest ever for the first quarter.
Knight Frank’s Destination Dubai 2025 report highlights the city’s total real estate transaction value reaching $207 billion in 2024, with $100 billion from residential sales alone. The market remains strong, with early 2025 sales already hitting AED 100 billion by March 4.
High-net-worth individuals (HNWIs) from Saudi Arabia, India, the UK, and East Asia are targeting Dubai with over $10.3 billion in private capital. These investors, averaging a net worth of $22 million, favor Dubai for its lifestyle, tax advantages, and stability. Notably, 83% of them are interested in buying land to build homes, signaling a shift from speculation to end-user demand.
Top residential areas include Dubai Marina, Dubai Hills Estate, and Emirates Hills. Dubai Marina is especially favored by ultra-rich buyers with over $50 million in personal wealth.
Residential prices surged by 19.1% in 2024, with villa prices climbing even higher—up 107% since 2020. Demand for homes above AED 50 million has tightened supply, with listings down 48% year-on-year.
Average budget plans vary by region: Saudis lead with $45.7M, followed by Indians at $44.6M, Britons at $30M, and East Asians at $23M.
Dubai’s luxury real estate continues to thrive, driven by international wealth and rising demand for high-end, long-term living options.
