Dubai recorded 86 residential sales worth $10 million or more in the third quarter of 2026, property consultancy Knight Frank said on Wednesday.
That compared with 103 such sales in the third quarter of 2025 and 131 in the second quarter of this year, according to the report cited by Khaleej Times. The July to September sales totaled AED5.77 billion ($1.57 billion).
The number of sales above $10 million in the first nine months of 2026 rose to 412 from 357 a year earlier, with a combined value of about $6.67 billion.
Thirteen of the third-quarter deals were for homes valued above $25 million. Those sales generated AED1.84 billion ($499.7 million), or nearly 32% of the quarter’s total value.
Palm Jumeirah was the most active community, with 27 sales worth AED2.01 billion ($546.7 million). The quarter’s largest single deal, at AED260 million, was also on the island.
Jumeirah Second followed with 10 sales worth AED594.9 million ($162 million), and Emirates Hills recorded seven worth AED542.5 million ($147.7 million).
Prices across Dubai’s 10 prime neighborhoods fell 5% between the second and third quarters, the first quarterly decline since 2020, said Faisal Durrani, Partner and Head of Research for the Middle East and North Africa at Knight Frank. Total prime transaction volumes are 29.4% lower than a year ago, he said.
“The biggest drag at the moment on overall market activity is the ongoing regional conflict,” Durrani said.
Louis Harding, Partner and Head of UAE Residential at Knight Frank, said prices on Palm Jumeirah had eased 9.1% over the past 12 months. He said a dip from the second quarter is historically expected during the quieter summer months.
