Dubai's ultra luxury property market just hit a new milestone. Homes priced above $10 million generated $5.1 billion in sales during the first half of 2026. That marks the strongest first half total the emirate has ever recorded.
Knight Frank's latest research confirms the scale of this surge. Some 296 residential properties above $10 million changed hands during this period. Transaction value climbed 14 per cent compared with the same period last year.
Deal Volume Keeps Climbing Too
The number of ultra luxury deals also grew sharply this year. Sales rose 16 per cent year on year across the market. Compared with the first half of 2024, deal volume jumped 49 per cent higher.
The first quarter alone saw 165 transactions above the $10 million mark. A further 131 deals followed during the second quarter. That second quarter also set a fresh benchmark for the segment.
Record Quarter For Ultra Prime Sales
Between April and June, 26 homes sold above $25 million each. This set a new quarterly record for Dubai's ultra prime segment. It shows demand at the very top of the market remains exceptionally strong.
Faisal Durrani, head of research for MENA at Knight Frank, noted something important. Much of this activity was agreed before recent regional tensions escalated. Sales typically take four to six weeks to formally register after agreement.
Which Neighbourhoods Led The Way
Dubai Hills Estate topped the rankings this half year. The community recorded 51 sales above $10 million each. Palm Jumeirah followed closely with 50 luxury transactions of its own.
Palm Jebel Ali ranked third with 40 luxury home sales. This is notable given the development remains under construction. Completion is not expected there until 2028.
The Biggest Deals Of The Year So Far
Several headline transactions stood out during the first half. A six bedroom apartment at Aman Residences sold for $114.9 million. That made it the most expensive completed residential sale recorded.
A six bedroom villa on Jumeirah Bay Island fetched $76.3 million. Meanwhile, an 80,000 square foot plot on Naia Island sold for $152.5 million. That land deal ranks among the largest ever recorded in Dubai.
These figures confirm Dubai's ultra luxury market remains firmly in demand. Global wealthy buyers continue choosing the emirate despite wider regional uncertainty.
Share This Post
