Key Points

In total, 527 super-prime deals worth $9.43 billion were recorded across 12 global cities in Q1 2025, up from 498 deals in the previous quarter, according to data compiled by real estate consultancy Knight Frank.

The average sale price for these luxury homes stood at $17.9 million.

Dubai led the global rankings once again, recording the highest number of transactions (111 deals) as well as the largest transaction volume.

Palm Beach and Miami also posted strong performances. Palm Beach saw a notable rise to 74 deals in Q1 2025, continuing its recovery from just 21 deals in Q4 2023.

Miami registered a 35 per cent year-on-year increase in deal count, with transaction volume nearly doubling from the same period last year.

New York recorded 75 transactions, while London and Hong Kong experienced a cooling off after strong closings in late 2023.

Hong Kong’s deal count dropped to 42, a 16 per cent decline from the previous year, with volumes falling to $690 million.

London saw a sharper slowdown, with 34 deals in Q1 2025, down 37 per cent year-on-year, and total value dropping to $590 million.

Knight Frank noted that the super-prime market continues to be active despite rising global uncertainties.

However, it cautioned that buyers and developers will need to be mindful of factors like changing interest rates, currency fluctuations, and local policy shifts as they plan their investments.

The report includes both quarterly and annualised data on residential sales above $10 million across key global cities.

- IANS