Dubai’s luxury real estate market soared to a new record. Sales of homes priced at more than $10 million reached $2.6 billion in the second quarter, up 37% from a year earlier, according to property consultancy Knight Frank. Apartments outpaced villas in the ultra-premium bracket, with beachfront properties in The Palm Jumeirah and La Mer districts among the most popular.
Prices in the broader Dubai property market are rising as the city attracts wealthy residents and investors, while also incentivizing new home ownership with fee discounts and low mortgage rates. Dubai is the world’s most active market for $10 million+ home sales, with trading in that segment matching London and New York combined, according to Knight Frank.
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