Palm Jumeirah, La Mer top destinations with sales of $10 million plus homes
Last updated: July 08, 2025
Dubai: Palm Jumeirah and La Mer are the two most popular picks for investors spending $10 million or more on homes in Dubai. This comes as Dubai property market sees sales of $10+ million hit a new record of $2.6 billion in the second quarter of 2025, according to data from Knight Frank.
Between April to end June, there were 22 transactions of more than $25 million each.
Dubai’s ‘property millionaires’
Dubai is also seeing a rising number of ‘property millionaires’, with 110,000 units (out of 624,000 total sold units since 2002) valued above $1 million at the start of Q2-2025.
This is 17.7% of the total number of homes sold in the city. The combined value of these homes is estimated to be $271 billion.
“About 19% of these $1 million homes (21,000 units) are rented, indicating the size of Dubai’s luxury buy-to-let market,” says the Knight Frank report.
‘Accidental millionares’
“37,000 are owned by ‘accidental millionaires’ – purchasers who bought properties for less than $1 million that are now worth more, solely due to price inflation.”
This comes even as developers rush in with new projects, many of them on and off Sheikh Zayed Road, including those from Dar Global with Trump Tower, the Burj Azizi, and the new Jumeirah Emirates Towers’ residential development. There is also Arada with the twin-tower Akala.
The Q2-25 numbers for $10 million and over home sales in Dubai beat the $1.9 billion recorded in Q1-25 and is a strong 63% lift on the Q2-2024 transactions.
The La Mer location is picking up more of Dubai’s $10 million plus property sales.
The number of $10 million+ sales during Q2 totalled 143 units, which is a 52% increase on Q2-2024.
World’s ‘busiest’ market for $10m+ homes
“The total value of all homes sold in Dubai has increased by an incredible 282% since 2020,” said Faisal Durrani, Head of Research MENA at Knight Frank.
“In 2024, it was once again the world’s busiest market for $10 million+ homes, recording 435 sales in this exclusive price bracket and almost equalling the number of $10 million+ home sales in London and New York combined.
“The city has retained this position during Q1 2025 as well.”
