What is happening in Dubai’s high-end apartment market? A closer look at Dhs10m+ market
The market remains narrow by transaction count, but important by value, reveals Ali Shahin, founder of The Real Estate Reports
01 July, 2026
TT
16
Dubai’s high-end apartment market has changed significantly over the past decade, with flats priced above Dhs10m growing from a small high-end segment into a much larger contributor to residential transaction value.
The Real Estate Reports data covering flat sales from 2016 to 24 June 2026 shows that Dhs10m+ flat transactions increased from 71 deals worth Dhs1.22bn in 2016 to 2,003 deals worth Dhs44.04bn in 2025. In 2026, the segment recorded 726 transactions worth Dhs17.81bn up to 24 June.
The market remains narrow by transaction count, but important by value. In 2025, Dhs10m+ flats represented only 1.21 per cent of all flat transactions in Dubai, but accounted for 13.66 per cent of total flat sales value. In 2026 to date, they represented 1.16 per cent of transactions and 14.45 per cent of value.

The first-half comparison shows a more nuanced picture. Activity in 2026 is below the same period in 2025 by transaction count and total value, but pricing is stronger. Dhs10m+ flat sales fell from 868 transactions in H1 2025 to 726 transactions in 2026 to date, while value declined from Dhs18.88bn to Dhs17.81bn. However, the segment’s share of total flat value increased, and the average price per square foot rose sharply.
Off-plan sales have been the dominant force behind the segment’s growth. In 2016, off-plan Dhs10m+ flat sales stood at Dhs968.6m, representing 79.11 per cent of the segment’s value. By 2025, off-plan value had risen to Dhs35.79bn, or 81.25 per cent of Dhs10m+ flat sales. In 2026 to date, the off-plan share increased further to 83.94 per cent.

This does not mean the ready market disappeared. Ready Dhs10m+ flat sales rose from Dhs255.8m in 2016 to Dhs8.26bn in 2025. But the data shows that the largest part of the value growth has come from off-plan sales, particularly in branded, waterfront, and high-positioning projects.
The geography of the market has also changed. Earlier activity was heavily concentrated in Burj Khalifa and Palm Jumeirah. In 2016, Burj Khalifa accounted for 53.08 per cent of Dhs10m+ flat value, while Palm Jumeirah contributed 25.72 per cent. By 2022, Palm Jumeirah alone represented 66.75 per cent of the segment.
From 2023 onward, the market became more distributed. Palm Jumeirah remained a leading location, but its share fell to 37.33 per cent in 2023, 19.49 per cent in 2024, 16.91 per cent in 2025, and 21.06 per cent in 2026 to date. Other areas, including Business Bay, Burj Khalifa, Dubai Marina, Dubai Water Canal, Jumeirah First, and Jumeirah Second, became more visible at the top end of the apartment market.
The depth of the market also increased above the Dhs10m threshold. The Dhs10m-Dhs20m band remains the largest by transaction count, but higher price bands have become more meaningful. In 2025, Dhs20m-Dhs50m flats accounted for Dhs16.36bn, while Dhs50m+ transactions reached Dhs10.11bn. In 2026 to date, Dhs50m+ flat sales have already reached Dhs5.70bn.

One of the most important shifts is pricing. The average Dhs10m+ flat size fell from 5,517 sq ft in 2016 to 4,202 sq ft in 2026 to date. The median size fell from 5,253 sq ft to 3,230 sq ft. Over the same period, the weighted average price per square foot rose from Dhs3,126 to Dhs5,839.
This shows that growth has not simply been driven by larger apartments. Buyers are paying significantly more per square foot for high-end flats, reflecting stronger project positioning, prime locations, and demand for higher-end residential products.
At the very top of the market, the largest recorded transaction in the dataset was a Dhs550m off-plan sale at Bugatti Residences by Binghatti in Business Bay in December 2025. Other major deals included Dhs500m at Como Residences on Palm Jumeirah in December 2023 and Dhs422m at Aman Residences Dubai in Jumeirah Second in March 2026.
The data points to a market that is deeper, more expensive, and more project-led than it was a decade ago. While 2026 has so far recorded fewer Dhs10m+ flat transactions than the same period in 2025, pricing remains firm, off-plan sales remain resilient, and the segment continues to account for a significant share of Dubai’s total flat transaction value.
The next phase will depend on how selective buyers become as more high-end projects move through the development cycle. For now, Dubai’s Dhs10m+ apartment market is no longer only about isolated trophy penthouses. It is a broader high-value segment shaped by branded projects, prime locations, and sustained demand for luxury vertical living.
























