Dubai from the air — Palm Jebel Ali

Market note · September 2026

Luxury property trends across the UAE

Luxury is still selling across the UAE. Dubai is the deep market. Abu Dhabi just printed a much larger first half. Ras Al Khaimah is the branded-waterfront story. Off-plan is how most of it is bought.

AED 38.4bn

Dubai luxury in Q1

840 homes above AED 20m

AED 70.4bn

Abu Dhabi home sales, H1

Up from AED 25.3bn a year earlier

+18%

RAK apartment prices

AED 2,298 per sq ft, CBRE H1

72–82%

Off-plan share of deals

Dubai about 72%. Abu Dhabi 82%.

The three markets

Dubai, Abu Dhabi, Ras Al Khaimah

AED 38.4bn

Dubai

Q1 luxury and ultra-luxury, homes above AED 20 million.

  • The AED 50 million-plus band rose nearly 79% year on year.
  • Off-plan was about 72% of deals. Palm Jebel Ali led ultra-luxury value in 2025, at AED 12.4 billion.
  • About 74,100 homes are due in 2026, mostly apartments. Villas and beach addresses are still scarce.

AED 70.4bn

Abu Dhabi

Residential sales in the first half, ADREC.

  • That is up from AED 25.3 billion in the first half of 2025. Off-plan was 89% of the value and 82% of the deals.
  • Repeat-sale prices rose 20% for apartments and 12% for villas.
  • The pipeline sits on Saadiyat, Reem, Yas, Hudayriyat, Zayed City and Khalifa City.

+18%

Ras Al Khaimah

Apartment prices in the first half, to AED 2,298 per sq ft. CBRE.

  • Al Marjan Island apartments rose 23.1%. Al Hamra rose 14.7%. Villa prices rose 7.3%.
  • A Waldorf Astoria Sky Palace sold for $35.4 million, the emirate’s record. A Mondrian Sky Mansion sold for $34.7 million.
  • More than 34,000 homes are due by 2030, about 10,000 of them branded.

Three markets. One habit.

What changed this year

Dubai: the top is not the middle

Cavendish Maxwell counted AED 38.4 billion in the first quarter across 840 homes above AED 20 million. Homes above AED 50 million rose nearly 79% year on year. Knight Frank logged 193 deals above US$10 million, the highest quarter on record. That is not a JVC studio. Do not read a city-wide average as a Palm price.

Abu Dhabi caught up on value

ADREC put first-half residential sales at AED 70.4 billion, against AED 25.3 billion a year earlier. Off-plan was 89% of that value. Repeat-sale prices rose 20% for apartments and 12% for villas. The homes that matter sit on Saadiyat, Yas, Reem and Hudayriyat.

Ras Al Khaimah is a branded beach market

CBRE says apartment prices rose 18% to AED 2,298 per square foot. Al Marjan Island rose 23.1%. A Waldorf Astoria Sky Palace sold for $35.4 million, the emirate’s record, and a Mondrian Sky Mansion sold for $34.7 million. About 10,000 of the 34,000 homes due by 2030 are branded.

Supply is the question for 2027

Dubai could complete about 74,100 homes in 2026 and around 160,700 in 2027, mostly apartments. Ras Al Khaimah is adding branded stock fast. Beach, villas and named water will not arrive in the same numbers. Buy the building and the payment plan, not the render.

Sources: Cavendish Maxwell and Knight Frank, Dubai Q1 2026; ADREC Abu Dhabi H1 2026; CBRE Ras Al Khaimah H1 2026. Figures as published. We confirm what is still for sale.

Price bands

What a foot actually costs

City-wide average

AED 1,683–1,933 / sq ft

Annual growth slowed to ~10%

Prime ten neighbourhoods

AED 4,317 / sq ft

+13% year on year, Knight Frank

Villas

AED 2,369 / sq ft

+13.5% YoY — still the scarce product

Apartments

AED 1,872 / sq ft

Volume engine; more supply ahead

For sale

Homes that fit this market

All Dubai off-plan
Ocean Cove — Rashid Yachts and Marina, Dubai apartment with Perfect Legacy
Ocean Cove

AED 3.23M

Emaar · Rashid Yachts and Marina, Dubai

2 beds · AUG 2028 · 10/70/20

Porto View — Rashid Yachts and Marina, Dubai apartment with Perfect Legacy
Porto View

AED 3.19M

Emaar · Rashid Yachts and Marina, Dubai

2 beds · OCT 2028 · 10/70/20

Pier Point — Rashid Yachts and Marina, Dubai townhouse with Perfect Legacy
Pier Point

AED 3.19M

Emaar · Rashid Yachts and Marina, Dubai

2 beds · OCT 2028 · 10/70/20

Aurea — Rashid Yachts and Marina, Dubai apartment with Perfect Legacy
Aurea

AED 2.31M

Emaar · Rashid Yachts and Marina, Dubai

1 beds · JUN 2030 · 10/70/20

Sera 2 — Rashid Yachts and Marina, Dubai townhouse with Perfect Legacy
Sera 2

AED 2.13M

Emaar · Rashid Yachts and Marina, Dubai

1 beds · NOV 2029 · 10/70/20

Baystar by Vida — Rashid Yachts and Marina, Dubai apartment with Perfect Legacy

Emaar · Rashid Yachts and Marina, Dubai

1 beds · DEC 2029 · 10/70/20

Asked of the market

How we read 2026

  • At the top, yes. In Dubai, homes above AED 20 million rose more than 25% in the first quarter, and the AED 50 million band jumped nearly 79%. Abu Dhabi repeat sales rose 20% for apartments. Ras Al Khaimah apartments rose 18%. Ordinary prices are rising more slowly. That is a late cycle, not a crash.