Dubai continues to dominate the global luxury real estate market, maintaining its position as the world’s busiest destination for residential properties valued above $10 million. Despite a noticeable slowdown in property transactions during the third quarter of 2026, the emirate remains ahead of major international markets, including Hong Kong and New York.

According to Knight Frank’s Global Super-Prime Intelligence Report, Dubai recorded 86 residential property transactions worth more than $10 million in Q3 2026, generating a combined value of approximately $1.57 billion. Hong Kong followed with 78 transactions, while New York recorded 62 sales during the same period.

Over the 12 months leading up to September 2026, Dubai registered 525 super-prime property transactions worth approximately $9.25 billion. This performance placed the emirate comfortably ahead of other global luxury property markets, with Hong Kong recording 346 transactions valued at $6.65 billion.

However, the latest figures also indicate that Dubai’s luxury property market is experiencing a period of moderation. Compared with the second quarter of 2026, transactions declined by 34 per cent in volume and 28 per cent in total value. Sales activity also reached its lowest quarterly level since Q3 2024.

Despite this slowdown, Dubai continues to attract high-net-worth individuals, international investors and wealthy buyers looking for premium residential properties. The city’s lifestyle offerings, international connectivity, business-friendly environment and established luxury developments continue to strengthen its position as a global real estate destination.

Interestingly, Hong Kong slightly surpassed Dubai in total super-prime property sales value during Q3 2026, recording $1.58 billion compared with Dubai’s $1.57 billion. This marked an important shift in the global luxury property market, although Dubai maintained its leadership in the number of transactions.

The global super-prime residential market also experienced slower activity during the quarter, with 470 transactions recorded across 12 markets. Nevertheless, demand for premium properties remains an important part of the international real estate sector.

Looking ahead, Dubai’s luxury property market is expected to remain an attractive destination for international investors. Although transaction volumes have moderated from the exceptional pace seen earlier in 2026, the emirate’s strong position in the $10 million-plus property segment highlights its continued importance in the global real estate industry.