2025年第三季度全球超级Prime智能

Knight Frank’s Global Super-Prime Intelligence report providesa unique quarterly snapshot of US$10 million+ residential salesconditions across 12 key international markets. Super-prime sales pause as politics,taxes, and supply take their toll Global super-prime activity eased in Q3 2025, as a thinnerpipeline moderated deal flow following a strong Q2.Across our 12 key markets, we tracked 474 US$10 million-plus transactions, down 21% quarter-on-quarter, with an 474US$10m+ deals across 12 cities in Q3 2025(-21% QoQ) US$8.5bnin total quarterly sales value (-29% QoQ) Across our 12 key markets, we tracked 474US$10 million-plus transactions, with anaggregate sales value of US$8.5 billion. Theaverage sale price settled at US$18 million,down from US$20 million in Q2. Dubairetained its global lead by both deal countand value, while New York and Los Angelesremained the next largest markets despiteslower activity. On a 12-month view, strong Singapore posted the quarter’s sharpestgain in transactions (36, +44% QoQ),with an aggregate value of US$669 million,up almost 50% on the quarter, pointingto a skew toward lower-ticket trades.London saw volumes fall back noticeably US$18.0maverage sale price (from US$20.0m in Q2) Dubainumber one for sales (103) and value(US$2.01bn) Among the US Sun Belt and West Coastmarkets, Orange County was broadlysteady (33 deals, -3% QoQ), Miamisoftened again (22 deals, -12% QoQ), andPalm Beach saw the sharpest pullback(6 deals, -81% QoQ). Sydney’s market CITY LEADERSDespite a 28% fall in sales compared to the previous quarter, Dubai remained numberone in both sales volume and value, with103 transactions totalling US$2.0 billion.New York ranked second by deal count(74, -38% QoQ) and third by total value(US$1.19 billion, -59% QoQ), reflecting amuch quieter summer ahead of the mayoral “Quarterly volatility is a feature,not a bug, of the super-primesegment. Q3’s slower print followsa surge in Q2 and reflects politics(New York), taxes (London), andlimited stock (Dubai) conspiringto weigh on activity. Despite this, THE LONG-VIEWMarket-by-market, Dubai’s structural lead remains intact; New York’s underlyingpool of capital remains broad, withactivity likely to normalise following theuncertainty surrounding the mayoralelection; Los Angeles continues to showselective depth in prime single-familystock; and Hong Kong’s gradual revival MID TABLEHong Kong’s market has been on a steady rise over the past two quarters, recording 56sales (+6% QoQ), with total value nudging Liam Bailey, Global Head of Research at Knight Frank Global Super-Prime IntelligenceData Digest – 2025 Q3 edition Keep up to speed with global property markets withour range of dedicated sector newsletters We like questions, if you’ve got one about our research, or would like some property advice,we would love to hear from you. Press enquiriesAstrid Recaldin+44 20 7861 1182 Research enquiriesLiam Bailey +44 7919 303 148