Indians Spend Big on Dubai Luxury Homes, Trail Only Saudis

Indian high-net-worth individuals (HNWIs) ranked second after Saudis in purchasing luxury real estate in Dubai, a new report from global property consultancy Knight Frank revealed.

The "Destination Dubai 2025" report outlines that Saudi nationals top the list with the highest average spend of -$45.7 million on prime properties. Indian investors follow closely with an average budget of $44.6 million, while British HNWIs hold third place, allocating $30 million on average.

Despite Asian HNWIs recording the lowest average spending among global counterparts surveyed, the group still posted a substantial average budget of $23 million.

Dubai Marina remains the most preferred location for ultra-wealthy global buyers, attracting 28 per cent of investor interest. Following that, Dubai Hills Estate and Emirates Hills accounted for 24 per cent and 23 per cent of buyer preference, respectively.

Among HNWIs with a net worth exceeding $50 million, the appeal of Dubai Marina increases significantly—43% expressed interest in this waterfront locale. Dubai Hills Estate (30 per cent) and Emirates Hills (22 per cent) followed as the next most favored destinations, according to Shehzad Jamal, Partner, Strategy & Consultancy, MENA at Knight Frank.

The report highlights a strong performance in Dubai’s luxury housing market during 2024, with average residential property values climbing by 19.1 per cent, reaching AED 1,685 per square foot. This marks a 13.3 per cent increase above the market’s 2014 peak.

Villa prices recorded even steeper growth. Data for Q1 2025 shows an annual increase of 19.6 per cent, pushing average prices to AED 2,088 per square foot. Compared to Q1 2020, this reflects a 107.6 per cent rise.

The continued interest in luxury homes is being driven by demand for standalone villas, branded residences, and beachfront properties, all of which offer proximity to Dubai’s upscale lifestyle and infrastructure.