2026-02-04-莱坊-Global_Super-Prime_Intelligence_Q4_2025_2页_385kb

Global Super-Prime Intelligence Summary (2025 Q4 Edition)

Core Content

Knight Frank's Global Super-Prime Intelligence report offers a quarterly overview of US$10 million+ residential sales in 12 key international markets. The report highlights trends in both transaction volume and sales value, emphasizing the impact of taxation policies, interest rates, and market dynamics on super-prime real estate activity.

Key Findings

Quarterly Performance

• Total Transactions: 555 US$10 million+ sales in Q4 2025, marking a 17% increase from Q3.
• Total Sales Value: US$10.3 billion, up 20% quarter-on-quarter.
• Average Sale Price: Increased to US$18.6 million from US$18.1 million in Q3.

Market Leaders

• Dubai: Led in both deal count (143) and sales value (US$2.5 billion) in Q4, with a record 500 annual sales, showing strong end-year momentum.
• Hong Kong: Secured second place in Q4 with 81 deals and US$1.57 billion in value, continuing its two-quarter revival.
• New York and Los Angeles: Recorded 57 and 63 sales respectively, with values of US$1.13 billion and US$1.10 billion. Both markets showed softer performance compared to Q3.
• London: Ranked seventh in Q4 with 35 sales, a significant drop from its previous position, due to tax-related concerns and reduced activity.

Mid-Table Markets

• Sydney: Showed the strongest rebound in the quarter with 52 sales (+58% QoQ), reflecting broader resilience in the Australian super-prime market.
• Singapore: Experienced a slight decline, with 32 sales (-11% QoQ) after a strong mid-year performance.
• Miami: Rose sharply to 40 sales (+82% QoQ), while Orange County cooled to 22 sales (-33% QoQ).
• Palm Beach: Improved from a very low base with 15 sales (+150% QoQ).

Annual Performance

• Dubai: Set a new annual record with 500 sales, outpacing London by more than three times.
• New York: Rebounded from its 2023 low to 326 annual sales.
• Los Angeles: Increased to 261 annual sales, up from 214 in 2024.
• Orange County: Slightly increased to 109 annual sales.
• London: Fell to 161 annual sales, down from 237 in 2024, ranking fifth.
• Miami and Palm Beach: Both showed declines in annual sales compared to 2024, with 145 and 127 sales respectively.

Key Factors Influencing Markets

• Taxation Policies: London's super-prime market activity declined due to debates over wealth and property taxation.
• Interest Rates: Continued to play a pivotal role in shaping buyer behavior and market dynamics.
• Supply and Demand: Dubai's strong performance was attributed to sustained wealth inflows and new-build developments.
• Market Sentiment: Uncertainty and regulatory changes affected sentiment in certain markets, particularly London.

Conclusion

The Q4 2025 report underscores a growing divergence in super-prime real estate markets, with Dubai maintaining its dominance and London facing challenges due to taxation concerns. While some markets like Sydney and Miami showed resilience and recovery, others like Singapore and Palm Beach experienced softer performance. The report also highlights the importance of policy and macroeconomic factors in shaping future market trends.

Summary Table

Contact Information

• Research Enquiries: Liam Bailey, +44 7919 303 148, liam.bailey@knightfrank.com
• Press Enquiries: Astrid Recaldin, +44 20 7861 1182, astrid.calcdin@knightfrank.com