Dubai Tops the Global $10M+ Home Sales Market in 2024 ??
The Luxury Address
Award winning boutique luxury real estate advisory in Dubai specialising in beachfront communities & Branded residences
Dubai has officially outpaced global hotspots like New York, Hong Kong, and Los Angeles to become the world’s #1 market for ultra-luxury real estate, with 435 home sales above $10M in 2024, totalling an astounding $7 billion in transactions.
?? Palm Jumeirah continues to lead the market with $2.3 billion worth of sales across 127 transactions, followed by Emirates Hills ($514.5M) and Jumeirah Bay Island ($470M). Other key luxury destinations include Palm Jebel Ali, District One, and The Oasis, further cementing Dubai’s dominance in high-end real estate.
?? Demand from the Ultra-Wealthy Dubai is home to the Middle East’s highest concentration of millionaires (72,500), centi-millionaires (212), and billionaires (15), with a 78% increase in millionaire residents over the last decade. This surge in high-net-worth individuals is fueling unprecedented demand for prime properties, sending luxury home prices soaring by 19.1% in 2024—13.1% higher than the 2014 peak.
?? Villas remain the most sought-after asset, accounting for 68.5% of all $10M+ sales, as international buyers prioritize space, privacy, and waterfront living.
Leading Developers in the $10M+ Market
According to Property Monitor, OMNIYAT dominated the ultra-luxury apartment segment with a commanding 36.8% market share, followed by Meraas (12.9%) and Select Group (9.7%), with AHS Properties (9.4%) and Nakheel (5.1%) rounding out the top five.
?? $5M-$10M Market Performance
领英推荐
?? Palm Jumeirah & Downtown Still the Hottest Ultra-Luxury Locations On Palm Jumeirah, OMNIYAT led the $10M+ apartment market with a 58.1% share, followed by Select Group (12.4%) and Nakheel (10.9%). Meanwhile, Downtown Dubai and Business Bay saw OMNIYAT command a 43.5% share, with H&H Development (18.4%) and Emaar (9.3%) making up the top three.
What Does This Mean for You?
Dubai’s high-end real estate is proving to be one of the strongest luxury asset classes in the world, with demand only continuing to rise. Whether you’re looking to invest, relocate, or explore your options in Dubai’s booming ultra-luxury sector, now is the time to act.
?? Interested in exploring your options? Let’s connect—I’d be happy to guide you through the city’s most exclusive opportunities.
Yasin Valimulla
CEO Founder
The Luxury Address Real Estate LLC