Dubai's super-prime property sales cling on to global top spot

Dubai has maintained its leadership position in global super-prime property sales for the third quarter of 2026, as reported by Knight Frank’s intelligence analysis. The city recorded 86 sales of properties valued at $10 million or more, totaling $1.57 billion, surpassing Hong Kong's 78 sales worth $1.58 billion. However, Dubai's market activity experienced a decline, with a 34% decrease in the number of sales and a 28% reduction in value compared to the previous quarter.

This marks the first time since the second quarter of 2022 that Hong Kong's aggregate value has surpassed Dubai, and the second consecutive quarter of decline for Dubai after a strong start to the year.

Despite this slowdown, Dubai remains the top performer across all 12 markets, with 525 super-prime transactions valued at $9.25 billion over the past year. In contrast, activity in the other 12 markets dropped by 19%, resulting in 470 deals worth $8.7 billion. New York, one of the few markets showing improvement, increased its sales to 62, a 9% rise, with a combined value of $1.08 billion, an 11% growth.

Sydney made a significant impact, doubling its super-prime sales to 57, amounting to $724 million. Singapore maintained its position, with 44 sales valued at $613 million, while London faced challenges, with a decline in sales from 46 to 42 and a halving of the average sale value from $31.7 million to $17.2 million after a series of high-value deals declined.

The data from the 12 cities is consistent with the previous year's trend, with a stable number of sales over the last 12 months. Knight Frank's Liam Bailey highlighted the upcoming challenge for Hong Kong to sustain its recent resurgence in 2027, emphasizing the rotation of market activity among the global super-prime property locations.