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Dubai United Arab Emirates
Dubai recorded 86 residential transactions worth $10 million or more in the third quarter of 2026, including 13 above $25 million, according to new analysis from global property consultancy Knight Frank.
Sales between July and September totalled Dh5.77 billion ($1.57 billion). That lifts the number of qualifying deals in the first nine months of the year to 412, up from 357 in the same period last year, with a combined value of about $6.67 billion.
Third-quarter volumes were 34 per cent below the 131 sales recorded in Q2 and lower than the 103 registered in Q3 2025.
Faisal Durrani, partner and head of research, Mena, at Knight Frank, said the luxury market has continued to see high sales volumes “despite the exceptional geopolitical backdrop across the region”, although they are lower than at this time last year.
“The biggest drag at the moment on overall market activity is the ongoing regional conflict. The somewhat ‘stop-start’ nature of the hostilities is predictably a confidence dampener,” he said.
Prices across the city’s 10 prime neighbourhoods fell 5 per cent between Q2 and Q3, the first decline since 2020, while total prime transaction volumes are 29.4 per cent lower than a year ago, Durrani added.
Palm Jumeirah leads luxury sales
Palm Jumeirah was the most active community for $10 million-plus sales in Q3, with 27 transactions worth Dh2.01 billion ($546.7 million). That represents about 31 per cent of luxury homes sold in the quarter and 35 per cent of their total value. The quarter’s largest single transaction, at Dh260 million, was also on the island.
Louis Harding, partner and head of UAE Residential, said prices on the island have eased by 9.1 per cent over the past 12 months, making it “increasingly offering ‘good value’” at AED4,083 per square foot. Buyers are largely seeking permanent or holiday homes rather than looking to flip properties, he said, noting that overall sales volumes have fallen 37 per cent compared with last summer.
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