Dubai real estate: Sales of homes worth more than $2.7m increase tenfold in 4 years; top millionaire neighbourhoods revealed
Dubai's prime residential property market has entered its fourth consecutive year of growth, with Savills Middle East reporting sustained increases in both value and volume across the city's most exclusive neighbourhoods.
According to the newly released Savills Dubai Prime Residential 2025 report, the number of AED10m+ ($2.7m+) home sales rose from 469 in 2020 to a record-breaking 4,670 in 2024 — a tenfold increase.
In Q1 2025 alone, more than 1,300 such properties changed hands, up 31 per cent year-on-year.
Premium Dubai real estate sales
Andrew Cummings, Head of Residential Agency at Savills Middle East, said: 'Dubai's prime residential market continues to attract high-net-worth individuals seeking space, privacy and superior lifestyle quality. This is particularly evident in the consistent demand for luxury villas and branded residences'.
Off-plan sales now account for 69 percent of all AED10m+ ($2.7m+) transactions — an increase from just 14 per cent in 2020. The shift reflects rising confidence in Dubai's future supply of high-end homes and growing buyer interest in lifestyle-focused communities.
High-performing developments include:
Palm Jebel Ali
District One West
The Acres
Dubai Harbour
Palm Jumeirah
Downtown Dubai
Jumeirah Islands has become a standout villa market, with 89 homes sold for AED10m+ ($2.7m) in 2024 — compared to none before 2021.
Properties exceeding AED20m ($5.4m) are also on the rise in the area, spurred by extensive, high-end renovations.
Villas now represent 70 per cent of all AED10m+ ($2.7m) transactions in Dubai. While waterfront apartments command a higher price per square foot (averaging AED5,400/$1,470), branded residences and luxury lifestyle offerings remain in high demand across both formats.
The city also leads globally in branded residences and is forecast to deliver 40 per cent of all such properties in the Middle East and Africa by 2031, underlining its position as a hub for affluent real estate investment.
Savills projects 8–10 per cent growth for the emirate's prime residential segment in 2025, supported by rising wealth migration, new masterplan communities, and continued interest in branded and lifestyle-led developments.
'Recent master plan announcements including the development of Jebel Ali Racecourse and the second phase of Jumeirah Golf Estates, alongside launches such as Emaar's Grand Polo Club and Resort, look set to deliver further prime product to Dubai's residential market,' Cummings said.
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