Knight Frank: Global Super-Prime Home Sales Drop 7% in Q2 as Dubai, Hong Kong Lead Market
On.cc · 1 SOURCES1 day ago2 MIN
Summary
Global luxury real estate transactions softened in the second quarter of 2026, with sales of homes priced above USD10 million declining 7% quarter-on-quarter to 572 units worth approximately USD10.5 billion, according to Knight Frank's latest Global Super Prime Report . Hong Kong maintained its position as the world's second most active market for super-prime residential property, despite a 9% quarterly drop in transaction value to USD1.67 billion . The report noted that while overall volumes have moderated, average transaction sizes have risen slightly to USD18.4 million, indicating sustained demand from ultra-high-net-worth buyers .
Key Points
- The report tracked 12 major international markets, recording 572 super-prime transactions worth USD10.5 billion in Q2 2026, representing a 7% quarterly decline in volume and 5% fall in total value
- Dubai retained its position as the world's most active luxury market with 131 transactions worth USD2.168 billion, though both figures dropped more than 20% from Q1 levels
- Hong Kong recorded 93 transactions valued at USD1.67 billion, ranking second globally; year-on-year volumes surged approximately 75% and transaction values climbed roughly 67%
- Miami emerged as a standout performer with 53 transactions worth USD808 million, posting remarkable growth of 56% in volume and 32% in value compared to the previous quarter
- London saw transaction volume decline to 44 units but recorded the largest quarterly value surge at 72%, reaching USD1.43 billion and ranking third by transaction value globally
Why It Matters
The data signals a shift in global luxury real estate dynamics from concentrated market leadership to broader geographic distribution, with Miami's strong growth complementing established hubs like Hong Kong and Dubai . For Hong Kong, the year-on-year surge in both transaction volume and value underscores the city's recovering market confidence, driven by improved sentiment, mainland capital flows, and limited supply of premium locations—factors that position the super-prime segment for continued stability .
The data signals a shift in global luxury real estate dynamics from concentrated market leadership to broader geographic distribution, with Miami's strong growth complementing established hubs like Hong Kong and Dubai . For Hong Kong, the year-on-year surge in both transaction volume and value underscores the city's recovering market confidence, driven by improved sentiment, mainland capital flows, and limited supply of premium locations—factors that position the super-prime segment for continued stability .