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Yahoo
6 days ago
- Business
- Yahoo
Dubai housing prices continue to soar, with villas leading the charge: Knight Frank
A villa in Signature Villas, Emirates Hills in Dubai (Picture: Knight Frank MENA) The Dubai residential market continued to break records in 2Q2025, sustaining momentum that has propelled property values in the emirate. According to research by Knight Frank, Dubai housing prices grew 3.4% q-o-q and 13.7% y-o-y to hit an average of AED1,809 psf ($629 psf) in 2Q2025, marking a new all-time high. Residential prices have now surged 21.6% above the previous market peak recorded in 2014. 'The sustained growth in prices - now approaching five consecutive years since the current cycle began in November 2020 - is a clear sign of a more stable and predictable market environment,' remarks Faisal Durrani, partner and head of research at Knight Frank Middle East and North Africa (MENA). The rise in prices coincides with quarterly sales volume hitting a new record of 51,000 last quarter. Off-plan sales accounted for nearly 70% of all transactions, which signals growing investor confidence in new Dubai developments, says Knight Frank. 'The market is increasingly being shaped by genuine buyers rather than speculators, with resale activity within 12 months of purchase now at just 4–5%, compared to 25% in 2008,' adds Will McKintosh, regional partner and head of residential at Knight Frank MENA. Read also: Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank Over 94,000 homes in Dubai have now been sold since the start of the year, putting the market firmly on track to exceed the 169,000 deals recorded for the whole of 2024. Overall, total residential sales value clocked in at AED268 billion in 1H2025, 41% higher y-o-y. Within the Dubai property landscape, the villa segment has continued to lead the charge in price growth, outperforming apartments. Villa prices rose 4% q-o-q to AED2,172 psf in 2Q2025, bringing the segment's total price growth since 2014 to 49.3%. According to Durrani, momentum in the villa segment will likely keep growing. 'Just 20% of the planned housing supply through to the end of 2029 will fall in the villa category and with demand remaining centred on stand-alone family homes, the delta between villa and apartment price performance may well continue to widen,' he explains. Meanwhile, the prime residential segment has also logged robust growth. Knight Frank data shows that the average transacted price across ten key communities rose 16% over the past 12 months to hit AED3,850 psf. In addition, sales of Dubai homes priced above US$10 million ($12.79 million) reached AED9.5 billion in 2Q2025, the highest quarterly figure on record. The Dubai property market "has become more stable, more transparent and is underpinned by solid fundamentals," observes McKintosh. He adds: "This shift is drawing in more long-term investors and end-users and is helping to strengthen Dubai's position as one of the most attractive residential markets globally.' Knight Frank has maintained its forecast for Dubai housing price growth in 2025 at 8% for the mainstream market and 5% for the prime segment. Read also: Dubai remains top market for homes transacted for over US$10 mil: Knight Frank See Also: Singapore Property for Sale & Rent, Latest Property News, Advanced Analytics Tools New Launch Condo & Landed Property in Singapore (COMPLETE list & updates) Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank Dubai remains top market for homes transacted for over US$10 mil: Knight Frank Dubai's real estate market on a hot streak En Bloc Calculator, Find Out If Your Condo Will Be The Next en-bloc HDB Resale Flats Up For Sale, Affordable Units Available
Gulf Insider
21-05-2025
- Business
- Gulf Insider
Dubai Tops Global Luxury Real Estate Market
Dubai's real estate market has continued to grow throughout 2024, with transaction values across all sectors reaching $207 billion, according to Knight Frank's 2025 Destination Dubai report released on Wednesday. The report reveals residential sales of nearly 170,000 properties totalled $100 billion in 2024, with momentum carrying into 2025 as home sales hit AED 100 billion by 4 March – the fastest pace on record. Dubai maintained its position as the world's busiest market for homes priced over $10 million for the second consecutive year, with 435 sales in this category during 2024 – nearly matching the combined total of London and New York. An additional 111 homes in this price bracket sold during Q1 2025, the highest number for any January to March period. 'As we have found in our research in previous years and mirroring the experience of our teams, the strongest appetite for a real estate purchase in the UAE comes from those with the greatest wealth and is a testament to the success of the government's programmes to strengthen the emirate's appeal as a place for the world's wealthy to live and invest,' Faisal Durrani, Partner – Head of Research, MENA said. Knight Frank's survey of 387 high-net-worth individuals (HNWIs) from India, Saudi Arabia, the UK and East Asia, with an average net worth of $22 million, showed that $10.3 billion of private capital is targeting Dubai's residential market. The UAE's residential sector ranks as the top target for Saudi HNWIs (79 per cent), followed by East Asian HNWIs (68 per cent) and UK investors (67 per cent). Branded homes emerged as the second most sought-after real estate sector at 49 per cent, with the office market (47 per cent) completing the top three preferences. Dubai was named as the preferred emirate for real estate acquisition by 71 per cent of respondents, with this figure highest among Saudi HNWIs (80 per cent), followed by British (74 per cent), Indian (69 per cent) and East Asian (61 per cent) buyers. 'The depth of demand from these nationalities is also reflective of our own market experience. Indeed, during 2024, Saudi, Indian and British nationals accounted for just over 50 per cent of homes sold by Knight Frank in Dubai,' Will McKintosh, Regional Partner – Head of Residential, MENA said. Dubai Marina was identified as the top target neighbourhood for residential purchases among HNWIs (28 per cent), with Dubai Hills Estate (24 per cent) and Emirates Hills (23 per cent) in second and third positions respectively. 'The super-rich remain laser-focused on purchasing luxury homes in the city, and this unrelenting demand has been a critical driver of Dubai being the world's busiest $10 million+ homes market for the second year running,' Shehzad Jamal, Partner for Strategy & Consultancy in MENA added. For ultra-high-net-worth individuals with personal wealth exceeding $50 million, Dubai Marina (43 per cent) holds the most appeal, followed by Dubai Hills Estate (30 per cent) and Emirates Hills (22 per cent). Residential property values in Dubai increased by 19.1 per cent in 2024, reaching an average of AED 1,685 per square foot – 13.3 per cent above the 2014 peak. The market continued to strengthen in 2025, with prices climbing a further 3.7 per cent during Q1, pushing values to 17.6 per cent above the 2014 peak. Villa prices grew by 19.6 per cent in the 12 months to the end of Q1 2025, reaching AED 2,088 per square foot – representing a 107.6 per cent increase since Q1 2020. Knight Frank highlights a shift in the current property cycle towards genuine end-users rather than speculators, evidenced by reduced inventory across the city. In the AED 50 million+ segment, available homes decreased by 48 per cent in 2024 compared to 2023. Durrani added: 'While we have anecdotal evidence of end-users being the most active buyer group in the market, our research has revealed a number of other key tell-tale signs. For instance, we have also found that 83 per cent of global HNWIs are interested in purchasing land in Dubai to build their own home. This appetite is high almost irrespective of nationality. Dubai has matured quickly throughout this property cycle and this is clearly evidenced by the desire of potential global HNWI home buyers to settle in the city.' The survey found that global HNWIs are prepared to spend an average of $32 million on Dubai properties. Among those with personal wealth exceeding $50 million, 54 per cent would consider purchases above $80 million. Saudi investors have the highest average budget at $45.7 million, followed by Indian buyers ($44.6 million) and British investors ($30 million). East Asian HNWIs reported the lowest average budget at $23 million. The research was conducted in partnership with YouGov, surveying 387 HNWIs across the UK, India, Saudi Arabia and East Asia (China, Hong Kong, Singapore) with an average net worth of $22 million, excluding their primary residence. Also read: Dubai to Slash Journey Times on Major Road With New Bridge
India Gazette
21-05-2025
- Business
- India Gazette
Dubai real estate targets USD 10 billion in global private capital as market reaches new highs: Knight Frank
New Delhi [India], May 21 (ANI): Demonstrating the strength of the property market, a significant USD 10.3 billion in private capital is poised to flow into Dubai's residential real estate sector, according to a report by global property consultancy Knight Frank. The report, based on insights from 387 high-net-worth individuals (HNWIs) across India, Saudi Arabia, the UK, and East Asia, signals a growing appetite among global investors for Dubai's thriving real estate landscape. According to the report conducted in partnership with YouGov, Dubai's real estate market continued to expand during 2024, with values and rents climbing to fresh highs and the total value of transactions across all sectors topping USD 207 billion, while demand for homes from the global elite continues to intensify. Observing the trends, Will McKintosh , Regional Partner, Head of Residential, MENA said, 'The depth of demand from these nationalities is also reflective of our own market experience. Indeed, during 2024, Saudi, Indian and British nationals accounted for just over 50 per cent of homes sold by Knight Frank in Dubai.' The 2025 edition of the Destination Dubai report from global property consultancy Knight Frank. Price growth was led by record residential sales of almost 170,000, totalling USD 100 billion in 2024, and momentum has continued into 2025, with home sales hitting United Arab Emirates Dirham (AED) 100 billion by March 4. The report also reveals that Dubai was the world's busiest market for sales of over USD 10 million homes for the second consecutive year. The city recorded 435 sales in this exclusive bracket in 2024, almost equalling the number of over USD 10 million home sales in London and New York combined. A further 111 homes sold for over USD 10 million during the first quarter (Q1), the highest number for any January to March period, the report added. Dubai's residential market experienced another strong year in 2024, with property values rising by 19.1 per cent to an average of AED 1,685 per square foot (psf), pushing prices to 13.3 per cent above the 2014 peak. On average, villa sale prices grew by 19.6 per cent in the 12 months to the end of Q1, reaching AED 2,088 psf, reflecting a 107.6 per cent uplift on Q1 2020. This sustained growth illustrates the strong appeal of stand-alone villas, beachfront homes and branded residences that provide instant access to the Dubai lifestyle, the report added. (ANI)
