Global Super-Prime Intelligence – Q4 2025
Knight Frank’s Global Super-Prime Intelligence report provides a quarterly snapshot of $10m+ residential sales conditions across 12 key international markets.
Key findings:
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Across our 12 markets, we recorded 555 US$10 million plus sales in Q4, up 17% quarter on quarter, totalling US$10.3 billion (+20% QoQ).
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The average deal size edged up to US$18.6 million as activity rose strongly QoQ in Dubai, Hong Kong, Sydney and Miami.
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Dubai reasserted its dominance, first for both deal count (143) and value (US$2.5bn) in Q4, reflecting robust end year momentum (+39% QoQ by count; +27% by value). Hong Kong moved into second by quarterly deal count (81) and value (US$1.57bn), extending its two quarter revival (+45% QoQ by count; +51% by value). New York and Los Angeles followed with 57 and 63 sales respectively (values US$1.13bn and US$1.10bn), both softer than Q3.
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On annual performance (12 months to Q4 2025), Dubai set a new record year with 500 sales, just over three times London’s tally, underlining its structural lead. New York rebounded from its 2023 low to 326 annual sales, Hong Kong continued to climb, and London fell to fifth place with 161, down from first place as recently as 2022.
Liam Bailey, Global Head of Research at Knight Frank, commented: “Two stories stood out this quarter. First, Dubai’s record year capped a powerful multi year run of wealth inflows and super-prime new build delivery. Second, London’s fall to seventh place in Q4 underscores how tax reform has weighed on trading in the super prime market.”
Discover more by delving into our latest report below.
