Dubai’s ultra‑luxury home sales soar tenfold — $10 million+ deals set records
Dubai’s highest-end property segment is witnessing explosive growth. In 2024, the emirate recorded 435 sales exceeding $10 million, narrowly surpassing 2023’s 434 deals, with Palm Jumeirah alone accounting for 127 transactions worth nearly $2.3 billion. Villas dominated this market, making up 68.5% of all luxury deals, fueled by demand from international high-net-worth individuals and a fierce competition for limited supply.
Off‑plan luxury dominates as supply tightens
Off-plan properties represented 52% of luxury sales, with top developers like Omniyat, Nakheel, and Emaar responsible for 46% of those transactions. Meanwhile, available listings in prime areas dropped drastically—up to 47% year‑on‑year, creating a significant supply‑demand imbalance. Savills reports a tenfold increase in $2.72 million+ home sales over the past four years, with Q1 2025 off to a strong start and luxury villas in Jebel Ali and District One leading the surge
