Dubai Maintains Global Lead in Super-Prime Property Sales Despite Q3 Slowdown

Dubai has once again secured its position at the forefront of the global super-prime property market, holding onto its top spot in the third quarter of 2026. The emirate recorded 86 sales of properties valued at over $10 million, totaling $1.57 billion. This performance places Dubai ahead of Hong Kong, which ranked second with 78 sales amounting to $1.58 billion, according to Knight Frank’s latest global super-prime intelligence report. However, Dubai experienced a notable dip in activity compared to the second quarter, with sales numbers falling by 34 percent and values decreasing by 28 percent.

This marks the first time since the second quarter of 2022 that Hong Kong's total sales value has surpassed that of Dubai. It is also the second consecutive quarter that Dubai has seen a decline in sales, following a particularly strong start to the year. Despite this recent slowdown, Dubai maintains a significant lead over other global markets over the past 12 months, with 525 super-prime transactions valued at $9.25 billion.

Globally, activity across 12 major markets slowed by 19 percent in the third quarter, with a total of 470 deals worth $8.7 billion. New York was a notable exception, improving its standing to third place with 62 sales, an increase of 9 percent, and a total value of $1.08 billion, up 11 percent. Sydney delivered exceptional results, doubling its sales of properties over $10 million to 57, with a combined value of $724 million. Singapore also performed steadily, recording 44 sales worth $613 million.

London, however, faced challenges. While the number of sales in the UK capital saw a slight decrease from 46 to 42, the total value of these sales was halved, falling to $722 million. The average sale price in London dropped significantly from $31.7 million to $17.2 million, attributed to the conclusion of a series of high-value deals. Across the 12 monitored cities, the total number of sales in the 12 months leading up to the end of September remained consistent with the preceding 12-month period.

Knight Frank highlighted that a key trend to monitor in 2027 will be Hong Kong's ability to sustain its recent market resurgence. Liam Bailey, global head of research at Knight Frank, commented, “Super-prime activity slowed in the third quarter, but the more significant story is a shift in leadership. Hong Kong edged past Dubai on value for the first time in four years, and Sydney posted a record quarter. Over 12 months, global volumes are holding firm, with a rotation between markets in terms of activity.”