Dubai luxury home sales above $10 million hit record in H1 2026

Dubai recorded a new record for luxury home sales during the first half of 2026, with 296 residential properties selling for more than $10 million, generating $5.1 billion in transaction value despite ongoing regional geopolitical uncertainty, according to Knight Frank.

The global property consultancy said the value of homes sold above $10 million increased 14 per cent compared with the first half of 2025, while the number of transactions was 16 per cent higher than a year earlier and 49 per cent above the first half of 2024.

Dubai registered 165 sales above $10 million during the first quarter, followed by 131 transactions in the second quarter. The second quarter also included a record 26 homes sold for more than $25 million, underscoring continued demand for ultra-prime residential properties.

Faisal Durrani, Partner and Head of Research for MENA at Knight Frank, said the first-half figures largely reflect transactions agreed before the recent regional conflict because of the typical four-to-six-week gap between a sale and its official registration.

However, he stressed that market activity has continued despite geopolitical uncertainty.

"We're seeing daily transactions continue because the market's underlying fundamentals remain unchanged," Durrani said, pointing to Dubai's world-class infrastructure, global connectivity, pro-business environment, cosmopolitan lifestyle, education and healthcare as key factors underpinning demand from international high-net-worth individuals.

Prime communities remain resilient

Nicholas Spencer, Partner and Head of Residential for MENA, said prices across Dubai's mainstream residential market have eased by between 5 and 20 per cent, depending on location, as some owners and investors have chosen to exit the market. Even so, many continue to realise gains, with average residential prices having risen 82.9 per cent over the past five and a half years.

Prime residential communities have remained considerably more resilient, although Knight Frank said there are early signs that price growth is beginning to soften as buyers adopt a more cautious approach.

Dubai Hills Estate emerged as the strongest-performing luxury location during the first half of the year with 51 homes sold for more than $10 million, narrowly ahead of Palm Jumeirah with 50 sales. Palm Jebel Ali, where completion is scheduled for 2028, ranked third with 40 luxury home transactions.

Ultra-luxury deals continue

The most expensive home sold during the first half was a six-bedroom apartment at Aman Residences in Jumeirah Second, which changed hands for $114.9 million (Dh422 million).

Knight Frank also highlighted the sale of a six-bedroom villa on Jumeirah Bay Island for $76.3 million, while an 80,000-square-foot plot on Naia Island sold for $152.5 million.

Knight Frank said Dubai's luxury market continues to benefit from a growing proportion of genuine end-users rather than short-term speculators. Only 4 per cent of homes sold last year were resold within 12 months, compared with 25 per cent during the 2008 property boom, contributing to greater market stability despite regional uncertainty.