Dubai remains top market for homes transacted for over US$10 mil: Knight Frank
In its newest Location Dubai record, Knight Frank evaluated 387 international HNWI around the UK, India, Saudi Arabia and East Asia (China, Hong Kong and Singapore) to calculate their desire for investing in United Arab Emirates realty. Over fifty percent of the respondents (52%) indicated they want acquiring property in the UAE.
Following solid action in 2024, the Dubai realty industry is expected to carry on attracting demand from amongst the wealthy. According to a research report by real estate consultancy Knight Frank, high-net-worth individuals (HWNIs) surveyed around the world have actually shown attraction in acquiring a real property in Dubai, with an estimated US$ 10.3 billion ($13 billion) in private capital most likely being channelled in the direction of the emirate’s non commercial market.
Knight Frank includes that amongst the East Asia HNWIs, those in Hong Kong presented the greatest yearning, with 22% of respondents signifying the intention to buy UAE real estate in 2025.
“The super-rich continue to be laser-focused on purchasing deluxe homes in the city, and this unrelenting demand has been a vital driver of Dubai being the globe’s busiest US$ 10 million+ homes market for the second year running,” says Shehzad Jamal, associate for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
“As we have actually found in our research study in past years and matching the expertise of our teams, the highest appetite for a property investment in the UAE comes from those with the most assets and is a testimony to the success of the government’s programmes to enhance the emirate’s look as a place for the entire world’s wealthy to settle and invest,” claims Faisal Durrani, partner and head of research study for Knight Frank MENA.
Saudi Arabia and India HNWIs registered the strongest interest, with 66% and 41% of respondents showing a purpose to purchase a UAE property in 2025. For the UK and East Asia HNWIs evaluated, 17% of each associate showed a possible UAE real property acquisition this year.
The steady appeal has actually bolstered activity in Dubai’s housing market, that registered record housing sales of almost 170,000 homes last year worth a total of US$ 100 billion, claims Knight Frank. That energy has actually rollovered right into this year, with AED100 billion ($35 billion) in home sales already reached as of March 4. Dubai property fees have also continued to climb, surging 19.1% in 2024 to hit approximately AED1,685 psf.
According to the report, houses stay the leading draw for worldwide HNWI as compared to the industrial and retail sectors. In addition, Dubai remains the leading target destination, with 71% of respondents labeling Dubai as their favored emirate.
At the same time, Dubai remains the world’s busiest market up for sale of homes valued over US$ 10 million, the record states. Last year, a total of 435 transactions in this bracket were documented in Dubai, almost amounting to the quantity of such deals logged in London and New York joined. In Between January and March this year, 111 houses were sold for around US$ 10 million in Dubai.
