Dubai has successfully maintained its position as the premier global hub for ultra-luxury real estate, recording the highest volume of residential transactions valued at $10 million or more during the third quarter of 2026. According to the latest data from Knight Frank, the city saw 86 super-prime sales totaling $1.57 billion, keeping it ahead of major competitors like Hong Kong and New York. While Dubai’s annual performance remains unrivaled—boasting 525 transactions worth $9.25 billion over the past year—the most recent quarter indicates a cooling trend, with sales volumes dipping by 34% compared to the previous three months as the frantic pace of early 2026 begins to normalize.

While Dubai continues to lead in the number of sales, the global landscape is showing signs of shifting. For the first time since 2022, Hong Kong narrowly surpassed Dubai in total transaction value, signaling a renewed momentum in the Asian market. Meanwhile, other cities are exhibiting contrasting results; Sydney experienced a record-breaking quarter, while major markets like London and Los Angeles faced declines. Despite this broader market volatility, high-end properties in Dubai remain a preferred asset class for the ultra-wealthy, ensuring that the emirate stays at the forefront of the global super-prime sector even as growth stabilizes.