Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
According to the survey, homes continue to be the biggest draw for global HNWI as compared to the business and retail sectors. In addition, Dubai stays the leading target place, with 71% of respondents naming Dubai as their liked emirate.
Complying with strong action in 2024, the Dubai realty industry is anticipated to continue drawing in demand from among the wealthy. According to a research report by real estate consultancy Knight Frank, high-net-worth individuals (HWNIs) evaluated around the world have shown interest in buying a real estate in Dubai, with an estimated US$ 10.3 billion ($13 billion) in private capital potentially being directed towards the emirate’s housing market.
The stable appeal has boosted activity in Dubai’s residential market, that registered record residential sales of approximately 170,000 homes in 2024 worth a total of US$ 100 billion, says Knight Frank. That energy has actually rollovered right into this year, with AED100 billion ($35 billion) in home sales already reached since March 4. Dubai real estate values have also persisted to rise, surging 19.1% in 2024 to hit approximately AED1,685 psf.
In its most recent Destination Dubai statement, Knight Frank checked 387 worldwide HNWI around the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to calculate their demand for investing in United Arab Emirates real estate. Over half of the participants (52%) suggested they have an interest in buying real property in the UAE.
Saudi Arabia and India HNWIs recorded the greatest rate of interest, with 66% and 41% of participants indicating an intention to purchase a UAE property in 2025. For the UK and East Asia HNWIs surveyed, 17% of each cohort indicated a prospective UAE real estate purchase this year.
At the same time, Dubai remains the global’s busiest local market up for sale of homes valued over US$ 10 million, the report states. Last year, a total of 435 deals in this bracket were reported in Dubai, almost equating to the amount of such offers record in London and New York incorporated. Between January and March this year, 111 homes were reselled for around US$ 10 million in Dubai.
Knight Frank includes that among the East Asia HNWIs, those in Hong Kong presented the strongest yearning, with 22% of respondents indicating the intent to acquire UAE property in 2025.
“The super-rich stay laser-focused on acquiring deluxe properties in the city, and this unrelenting interest has been a critical factor of Dubai being the globe’s busiest US$ 10 million+ homes market for the 2nd year running,” states Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
“As we have discovered in our research study in former years and mirroring the expertise of our teams, the highest appetite for a realty acquisition in the UAE originates from those with the largest assets and is a testimony to the success of the government’s programs to strengthen the emirate’s look as a place for the entire world’s affluent to reside and invest in,” claims Faisal Durrani, partner and head of research study for Knight Frank MENA.
