Dubai luxury home sales fall 17% in Q3 2026: Report

Luxury home sales in Dubai valued at $10 million (AED 36.7 million) or higher fell 17% in Q3 2026

Luxury home sales in Dubai valued at $10 million (AED 36.7 million) or higher fell 17% in Q3 2026 compared with the same period last year, as the effects of the regional conflict continued, according to a report by property consultancy Knight Frank.
 
Dubai saw 86 such homes sold in Q3, down from 103 in the comparable period in 2025, which had marked record levels of luxury real estate sales in the emirate, Bloomberg reported, citing the report.

The number of luxury home deals exceeding $10 million reached about 412 in the first nine months of the year, compared to 500 for full-year 2025, with total sales in the segment at around $6.7 billion from January to end-September.
 
Q3 saw 13 properties sold at a price of at least $25 million each, totaling about $500 million, with Palm Jumeirah and Emirates Hills accounting for the largest share of high-end real estate sales.
 
On prices, JLL estimated average Dubai property prices slipped about 5%, with certain key areas registering larger declines.
 
Knight Frank put the annual price drop in Palm Jumeirah at 9% over the past 12 months, bringing average prices to AED 4,083 ($1,112) per square foot.
 
Louis Harding, head of residential at Knight Frank UAE, said lower prices have made Palm Jumeirah more attractive for buyers, with demand mainly from those seeking permanent homes or holiday residences, rather than investors looking for quick flips.
 
The market slowdown followed a surge that began during the COVID-19 pandemic in 2020, pushing Dubai property prices up more than 70% since then, according to analysts.