Dubai’s luxury real estate market continued its boom during the first quarter, with wealthy buyers once again driving record sales of homes valued at over $10 million, according to a report by real estate firm Knight Frank.
According to the company, the first three months of 2025 saw the sale of 111 homes, a 5.7% increase compared to the same period last year. The report stated that the first quarter saw the sale of 12 homes valued at $25 million or more.
The jump in sales demonstrates that Dubai’s real estate market continues to see increased demand in the months leading up to the global market turmoil in April after President Donald Trump announced the imposition of comprehensive global tariffs.
Faisal Durrani, head of Middle East research at Knight Frank, said the first-quarter figures demonstrate the continued appetite of high-net-worth individuals around the world for unique, luxury homes.
He noted that it is too early to say whether the emirate’s real estate will be affected by the recent turmoil in global assets. Government Attraction
Demand for Dubai real estate has boomed since 2020, as the government’s handling of the pandemic and its liberal visa policies attracted scores of foreign buyers. The emirate’s luxury property market has benefited from the influx of wealthy expatriates, including waterfront villas on the city’s palm-shaped artificial islands.
In the first quarter, Palm Jumeirah remained one of the most popular locations, registering 34 transactions for homes worth more than $10 million, with a total value of $562.8 million, according to Knight Frank. Durrani added that the impact of tariffs on the supply chains of raw materials used in construction is another area of concern.