Dubai's ultra-luxury property market logged 86 transactions above $10 million in the third quarter of 2026, worth a combined $1.57 billion (Dh5.77 billion). Over the first nine months of the year, that total climbed to 412 deals worth $6.67 billion, up from 357 deals in the same period of 2025.
Still, the third-quarter tally marked a 34 percent drop from the 131 sales recorded in the second quarter, and came in below the 103 sales seen in the third quarter of 2025. Thirteen of the quarter's deals exceeded $25 million, together generating $499.7 million.
Palm Jumeirah led the luxury market with 27 transactions, representing 31 percent of the quarter's deals and 35 percent of total value at $546.7 million; its single largest sale reached Dh260 million. Even so, prices on the Palm eased 9.1 percent over the past 12 months, with sales volumes down 37 percent year-on-year, leaving the current price at Dh4,083 per square foot.
Elsewhere, Jumeirah Second posted 10 sales worth $162 million, Emirates Hills recorded 7 sales worth $147.7 million, and Dubai Hills Estate and Jumeirah Golf Estates each logged 6 sales. Villas accounted for 64 percent of all transactions. Knight Frank analyst Faisal Durrani, pointing to a 5 percent price drop in prime neighbourhoods between the second and third quarters, said regional conflict remains "a confidence dampener" on market activity.