May 21, New Delhi, India: According to a survey by international property consultant Knight Frank, a substantial USD 10.3 billion in private money is expected to pour into Dubai’s residential real estate industry, demonstrating the strength of the real estate market.

Based on information gathered from 387 high-net-worth individuals (HNWIs) in East Asia, Saudi Arabia, the UK, and India, the research shows that international investors are becoming more interested in Dubai’s booming real estate market.

As the demand for homes from the world’s elite continues to heat up, Dubai’s real estate market continued to grow in 2024, with values and rents reaching new heights and the total value of transactions across all sectors surpassing USD 207 billion, according to the report done in collaboration with YouGov.

“The level of demand from these nationalities is also reflective of our own market experience,” said Will McKintosh, Regional Partner, Head of Residential, MENA, in reference to the trends. In fact, slightly more than half of Knight Frank’s residences in Dubai in 2024 were sold to Saudi, Indian, and British citizens.

The 2025 edition of the international real estate firm Knight Frank’s Destination Dubai report.

Record residential sales of about 170,000, which amounted to USD 100 billion in 2024, drove price rise. This enthusiasm carried over into 2025, as house sales reached USD 100 billion by March 4.

For the second year in a row, Dubai was the busiest market in the world for sales of more than USD 10 million residences, according to the research. In 2024, the city saw 435 transactions in this exclusive category, almost matching the total of above USD 10 million in property sales in New York and London combined.

According to the data, 111 more residences sold for more than USD 10 million in the first quarter (Q1), which is the most for any period from January to March.

With property values increasing by 19.1% to an average of AED 1,685 per square foot (psf), Dubai’s residential sector had another successful year in 2024, driving prices up 13.3% from the 2014 high.

In the 12 months leading up to the end of Q1, villa selling prices increased by an average of 19.6% to AED 2,088 per square foot, which is a 107.6% increase from Q1 2020. According to the research, this steady rise demonstrates the high demand for standalone villas, beachfront houses, and branded apartments that provide immediate access to the Dubai way of life.