Dubai recorded more sales above USD 10 million in 2023 and 2024 than any other city in the world, according to Knight Frank's tracking of the ultra-prime segment. Palm Jumeirah, Jumeirah Bay Island, Emirates Hills and the branded towers of Downtown and Dubai Marina account for most of that volume. The market is transparent by regional standards: transactions are recorded by the Dubai Land Department and broker licensing is mandatory through RERA.
The professional market is a mixture of Dubai-founded brokerages and the Dubai offices of international networks such as Knight Frank, Savills, Sotheby's International Realty and Engel and Volkers. The Registry's Dubai directory is growing; where a category has no local entry yet, the international firms listed below operate in the market through their Dubai offices.
Transaction costs are low by global standards: a 4 percent Dubai Land Department transfer fee, a 2 percent broker commission, no annual property tax and no capital gains tax. Off-plan purchases from developers are common and carry their own escrow and payment-plan mechanics.
What to Look For in a Dubai Real Estate Professional
- A valid RERA broker licence, verifiable through the Dubai REST app or the DLD
- Experience with the specific community you are targeting; Palm villas and Downtown penthouses are different markets
- For off-plan: escrow account confirmation and developer track record on delivery
- Clarity on whether the agent is also representing the seller or developer