Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
The steady interest has actually bolstered activity in Dubai’s housing market, that registered record housing sales of approximately 170,000 homes last year worth a total of US$ 100 billion, states Knight Frank. That momentum has actually carried over right into this year, with AED100 billion ($35 billion) in home sales already achieved as of March 4. Dubai real estate values have also continued to climb, surging 19.1% in 2024 to reach an average of AED1,685 psf.
Complying with solid activity in 2024, the Dubai real estate market is anticipated to continue drawing in interest from amongst the wealthy. According to a research study report by property consultancy Knight Frank, high-net-worth individuals (HWNIs) observed worldwide have shown attraction in purchasing a real estate in Dubai, with an estimated US$ 10.3 billion ($13 billion) in private capital potentially being channelled towards the emirate’s residential market.
“As we have identified in our research study in former years and matching the expertise of our teams, the highest appetite for a property investment in the UAE comes from those with the most wealth and is a testament to the success of the government’s programs to strengthen the emirate’s look as an area for the entire world’s rich to reside and invest in,” says Faisal Durrani, associate and head of research for Knight Frank MENA.
In its most recent Location Dubai record, Knight Frank surveyed 387 global HNWI throughout the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to calculate their yearning for investing in United Arab Emirates property. Over half of the respondents (52%) showed they have an interest in purchasing real property in the UAE.
“The super-rich continue to be laser-focused on buying high-end houses in the city, and this relentless need has been an essential factor of Dubai being the globe’s busiest US$ 10 million+ homes market place for the second year running,” states Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Knight Frank includes that amongst the East Asia HNWIs, those in Hong Kong presented the highest yearning, with 22% of participants indicating the intent to purchase UAE estate in 2025.
At the same time, Dubai remains the world’s busiest local market available of homes marked up over US$ 10 million, the report states. Last year, a total of 435 deals in this bracket were recorded in Dubai, almost equating to the amount of such offers logged in London and New York combined. In Between January and March this year, 111 homes were sold off for more than US$ 10 million in Dubai.
Saudi Arabia and India HNWIs recorded the best rate of interest, with 66% and 41% of participants indicating a purpose to acquire a UAE real estate in 2025. For the UK and East Asia HNWIs evaluated, 17% of each associate showed a potential UAE property acquisition this year.
According to the survey, homes continue to be the biggest draw for international HNWI as contrasted to the commercial and retail segments. Additionally, Dubai remains the leading target location, with 71% of participants naming Dubai as their chosen emirate.
