Dubai Records 86 Luxury Home Sales Worth Over $10 Million in Q3 2026
Palm Jumeirah leads high-value property deals as prime residential prices decline for the first time since 2020, Knight Frank reports
Dubai registered 86 residential property transactions valued at $10 million or more during the third quarter of 2026, generating a combined value of approximately Dh5.77 billion, according to research by global property consultancy Knight Frank.
The transactions, completed between July and September, included 13 properties sold for more than $25 million each. Despite a slowdown from the previous quarter, Dubai's luxury housing market continued to attract substantial investment in high-end residential properties.
Across the first nine months of 2026, the emirate recorded 412 home sales in the $10 million-plus segment, compared with 357 during the same period in 2025. The combined value of these transactions reached approximately $6.67 billion.
However, quarterly activity moderated. The 86 transactions recorded in Q3 represented a 34% decline from the 131 deals completed in Q2. Sales were also lower than the 103 transactions reported during the third quarter of last year.
Knight Frank attributed some of the softer market activity to regional geopolitical uncertainty, which has affected buyer confidence. The consultancy also reported that property prices across Dubai's 10 prime residential neighbourhoods fell by 5% between Q2 and Q3, marking their first quarterly decline since 2020. Prime-market transaction volumes were also down 29.4% year-on-year.
Palm Jumeirah dominates Dubai's luxury property market
Palm Jumeirah remained the leading destination for homes priced above $10 million during the third quarter. The island recorded 27 transactions worth Dh2.01 billion, accounting for approximately 31% of all qualifying sales and 35% of their total value.
The area's largest individual transaction during the quarter reached Dh260 million, highlighting the continued presence of buyers in Dubai's ultra-luxury residential segment.
Nevertheless, Palm Jumeirah has also experienced price adjustments. Knight Frank reported that prices on the island declined by 9.1% over the preceding 12 months, reaching an average of Dh4,083 per square foot. The consultancy noted that many buyers are purchasing properties for permanent residence or holiday use rather than short-term resale.
Jumeirah Second ranked next, recording 10 transactions worth Dh594.9 million. Emirates Hills followed with seven sales valued at Dh542.5 million.
Dubai Hills Estate registered six transactions worth Dh574.9 million, while Jumeirah Golf Estates also recorded six deals, with a combined value of Dh330.1 million. Villas accounted for 55 of the 86 transactions, representing around 64% of sales in this price category.
Properties above $25 million contribute significantly to sales value
Of the 86 transactions, 73 involved homes priced between $10 million and $25 million. These deals generated Dh3.93 billion in sales value.
The remaining 13 properties, each valued above $25 million, contributed Dh1.84 billion. Although these ultra-luxury homes represented around 15% of the total transaction count, they accounted for nearly 32% of the overall sales value.
Palm Jumeirah recorded five of these 13 transactions. Dubai Hills Estate and Emirates Hills each registered two deals in this price bracket.
The figures underline the importance of a relatively small number of high-value properties in driving overall turnover in Dubai's luxury residential market.
Monthly sales activity shifts during the quarter
July recorded the highest number of transactions, with 36 sales worth Dh2.04 billion. August followed with 32 deals valued at Dh2.08 billion, making it the strongest month of the quarter by total sales value.
September saw 18 transactions worth Dh1.65 billion. Despite the lower number of deals, the value of homes sold for more than $25 million increased during the month.
Sales in this ultra-luxury category rose from Dh376.1 million in July to Dh609.8 million in August and Dh849.5 million in September. These transactions accounted for approximately 52% of September's total sales value in the $10 million-plus segment.
Overall, Knight Frank's analysis points to a market in which high-value residential purchases continue alongside moderating transaction volumes and price adjustments in prime locations. Future activity will depend on buyer confidence, market conditions and demand for Dubai's most expensive homes.
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