The ultra-luxury property sales 2025 market opened the year with strong momentum, according to Knight Frank. In the first quarter, 12 major markets recorded 527 super-prime sales priced at $10 million or more. This represented a 6% rise from the same period in 2024, pushing total value to $9.43 billion.
Dubai held its position as the global leader in both deals and volume. The city logged 111 transactions worth $1.9 billion, continuing its dominance since early 2024. New York followed with 75 sales totaling $1.41 billion.
South Florida staged a remarkable comeback. Palm Beach led with 74 deals in the first quarter worth $1.35 billion. That figure more than tripled the 21 transactions closed in the third quarter of 2024 and exceeded the 42 recorded in the fourth quarter. Compared with last year’s first quarter, Palm Beach also saw a sharp rise from 57 sales.
Miami also delivered strong results. The city registered 58 $10 million-plus deals, a 35% year-over-year increase. This was the largest annual gain of any market. Sales volume nearly doubled compared to the same quarter in 2024, reaching $1.29 billion. Analysts say this proves South Florida’s growing appeal for ultra-wealthy buyers.
Other global markets showed mixed results. London slipped to 34 transactions, down from 54 in the first quarter of 2024 and below the 63 logged at the end of last year. Hong Kong also cooled quarter-to-quarter, dropping from 72 deals to 42. However, it still improved from the 36 sales recorded at the start of 2024.
Liam Bailey, global head of research at Knight Frank, commented on the findings. He said, “Dubai maintains its lead, but the resurgence of South Florida and the rebound in Hong Kong show that demand remains truly global. As we move through 2025, deal flow should remain healthy. However, rising macroeconomic uncertainties will demand greater focus from developers and investors.”
The ultra-luxury property sales 2025 report highlights that demand for prime real estate remains resilient. Dubai and South Florida emerged as the strongest performers in the year’s first quarter.
READ: 200 East 75th Street: Luxury Condos on the Upper East Side
