Real Estate
Dubai’s Luxury Real Estate Sales Drive Global Rebound
The number of properties selling for more than $10 million jumped in the first quarter as the super-prime market bounced back.
Residential skyscrapers in Dubai.
Photographer: Christopher Pike/BloombergThis article is for subscribers only.
Dubai is driving a rebound in luxury real estate sales.
There were 88 homes sold for more than $10 million in the city during the first quarter, compared with 67 in Hong Kong and 58 in New York, according to a report from the real estate company Knight Frank, which tracks purchases in 12 markets. That pushed the global total to 417 properties, the most since the second quarter of 2022.