Dubai records $1.7b in luxury home sales in Q1 2024, says Knight Frank

Dubai records $1.7b in luxury home sales in Q1 2024, says Knight Frank

DUBAI / WAM One hundred and five homes priced in excess of $10 million were sold in Dubai during the first three months of the year, up 19 percent on Q1 2023, according to the latest analysis from global property consultant, Knight Frank. Faisal Durrani, Partner – Head of Research, MENA, explained, “The level of ...

DUBAI / WAM

One hundred and five homes priced in excess of $10 million were sold in Dubai during the first three months of the year, up 19 percent on Q1 2023, according to the latest analysis from global property consultant, Knight Frank. Faisal Durrani, Partner – Head of Research, MENA, explained, “The level of deal activity in Dubai continues to strengthen, particularly at the top end of the market, where the near constant stream of international high-net-worth-individuals vying for the city’s most expensive homes persists.

“The laser-like focus of the global wealthy on Dubai is best reflected in the rapid deterioration in the volume of $10 million+ homes for sale, which has fallen by 59 percent across the city over the last 12 months to just 864 homes.” The total value of luxury homes sold during Q1 stands at $1.73 billion, up six percent from Q1