Dubai Real Estate Sales Above $10 Million Drop 17% in Third Quarter

Dubai recorded 86 home sale transactions valued at over $10 million each in the third quarter of 2026, compared to 103 transactions in the same period last year, marking a 17 percent decline, according to a Knight Frank report cited by Al Khaleej newspaper.

The third quarter saw the sale of 13 properties worth at least $25 million each, totaling approximately $500 million, while the number of transactions above $10 million reached 412 between January and September, with a total value of nearly $6.7 billion.

This figure approaches the record of 500 transactions registered throughout the whole of 2025. Palm Jumeirah and Emirates Hills accounted for the largest share of luxury sales, with the average price per square foot in Palm Jumeirah estimated at around AED 4,083, equivalent to $1,112.

Faisal Durrani, Head of Middle East and North Africa Research at Knight Frank, stated that Dubai's luxury home market continued to record high levels of sales despite geopolitical conditions in the region. For his part, Louis Harding, Head of Residential UAE at the firm, noted that buyer interest in Palm Jumeirah primarily comes from those seeking a permanent home or holiday property, rather than investors aiming for quick resales.

What Do These Terms Mean?

Luxury Property: In this report, a home priced above $10 million, with the category used to measure wealth activity in the market.

Average Price per Square Foot: The property price divided by its area in square feet, allowing for price comparisons between areas and projects.

End User: A person who buys the property for personal use or holidays, rather than to sell it quickly to make a profit.