Hong Kong beats Dubai: $1.58bn of super-prime home sales in Q3 2026

The ranking compiled by British property consultancy Knight Frank has a new leader. Between July and September 2026, Hong Kong sold slightly more super-prime housing than Dubai by value, while the emirate kept the lead in number of transactions. The gap is about 5 million euros (6 million dollars, ECB rate of 12 November 2026).

Hong Kong: 1.42 billion euros in one quarter

The Global Super-Prime Intelligence report records 78 sales in Hong Kong worth about 1,423 million euros (1,577 million dollars). Sales were down 16% on the quarter but up 39% on the year, with value up 52%. Over twelve months, the city totals 346 sales, 49% more than in the whole of 2025. For Knight Frank, the depth of Hong Kong’s recovery, which has surprised on the upside this year, will be one of the themes to watch in 2027.

Dubai still leads by number of sales

The emirate recorded 86 sales worth about 1,418 million euros (1,571 million dollars). Activity fell 34% by count and 28% by value on the quarter, the lowest level since the third quarter of 2024. Year on year: down 16% by count and 21% by value.

Over twelve months, Dubai keeps a wide lead, with 525 sales worth about 8.35 billion euros (9.25 billion dollars). But a second consecutive quarterly decline confirms, according to Knight Frank, that the exceptional pace of early 2026 has eased.

Sydney posts the best quarter on record

Sydney went from 27 to 57 sales, its highest quarterly total in Knight Frank’s series. Value rose 77% to about 653 million euros (724 million dollars). Singapore followed with 44 sales worth about 553 million euros (613 million dollars). Asia-Pacific thus accounted for 38% of the quarter’s sales, up from 29% in the second quarter.

New York gains as the rest of the US slips

New York, in third place, was one of the few major markets to improve: 62 sales worth about 971 million euros (1,076 million dollars), up 9% by count and 11% by value on the quarter. Across the US markets tracked, volumes fell 30% compared with the second quarter.

Miami fell to 30 sales, Los Angeles to 18, its lowest in the series, and Palm Beach to 17. Orange County, home to Laguna Beach, held up better: 28 sales worth about 503 million euros (557 million dollars), 25% higher by value than a year earlier.

London, Geneva and Paris lose ground

In London, sales eased to 42, but value halved to about 652 million euros (722 million dollars). The very large deals of the second quarter were not repeated: the average sale fell from about 28.6 to 15.5 million euros (31.7 to 17.2 million dollars). Geneva and Paris recorded just 4 sales each. Over twelve months, Paris totals 28 sales worth about 535 million euros (593 million dollars), the smallest volume in the index.

2,240 sales over twelve months, a steady total

The quarter’s value fell 18% on the previous three months but rose 1% on the year. In the twelve months to September, the index counts 2,240 sales worth about 37.0 billion euros (41.0 billion dollars), in line with the twelve months to June. “Super-prime activity slowed in the third quarter, but the more significant story is a shift in leadership,” says Liam Bailey, Global Head of Research at Knight Frank. Hong Kong edged past Dubai by value for the first time in four years. For a sense of scale, see the world’s most expensive properties.

What does Knight Frank’s index measure?

Each quarter, the index tracks home sales above 10 million dollars in twelve cities: Dubai, Hong Kong, New York, Sydney, Singapore, London, Miami, Orange County, Los Angeles, Palm Beach, Geneva and Paris. It only counts publicly available sales, converted into dollars at the exchange rate on the date of sale; US data come from the firm Miller Samuel.

Information checked on 13 November 2026. Sources: Knight Frank, Global Super-Prime Intelligence, third-quarter 2026 report (PDF), European Central Bank (reference rate of 12 November 2026).