Hong Kong ranked second globally by both transaction volume and value
Knight Frank’s Global Super-Prime Intelligence report provides a unique quarterly snapshot of US$10 million+ residential sales conditions across 12 key international markets.
The report reveals that the global super-prime residential market continued to gather momentum in the first quarter of 2026, with transaction volumes reaching a one-year high. Dubai, Hong Kong and New York remained the standout performers, collectively accounting for nearly 60% of all global super-prime transactions and reinforcing their positions as the world’s leading ultra-luxury residential markets.
Key findings:
- Across the 12 markets tracked, 636 US$10m+ transactions were recorded in Q1 2026, up 14% QoQ. It highlights the continued strength in global private wealth despite higher financing costs and ongoing geopolitical and policy uncertainty.
- Dubai maintained its dominance, recording 193 transactions worth an estimated US$3.43 billion in Q1 2026. Transaction volumes increased 35% QoQ and 74% YoY.
- Hong Kong ranked second globally with 94 sales worth US$1.84 billion, transaction volume and value rose 16% and 17% QoQ respectively, reflecting the market’s continued recovery.
- New York ranked third with 90 transactions worth US$1.67 billion, representing 58% QoQ increase in transaction volume and 48% in transaction value.
- Singapore recorded solid growth, with 42 sales in Q1 2026, up 31% QoQ, with transaction values remaining stable at US$624 million.
- Over the 12 months to Q1 2026, Dubai recorded 581 super-prime sales, compared with 341 in New York and 284 in Hong Kong. Dubai also led by value with US$10.55 billion in annual transactions.
“Q1 delivered a strong headline result for the global super-prime market, but the numbers need careful interpretation. Dubai’s performance was exceptional, though driven by pre-conflict activity in January and February. The Q2 data will provide a clearer test of how regional uncertainty is affecting demand. At the same time, Hong Kong and New York both showed renewed strength, confirming that global private capital remains highly active where liquidity, lifestyle and long-term confidence align.”
Liam Bailey, Global Head of Research at Knight Frank commented
“Hong Kong’s super-prime residential market has demonstrated remarkable resilience in 2026, with both transaction volumes and values recording growth for consecutive quarters. Demand from high-net-worth individuals remains robust, particularly for scarce and well-located luxury residences. Supported by ongoing capital inflows, a more stable interest rate environment and Hong Kong’s unique advantages as an international financial center, we expect demand for premium residential assets to remain healthy. The continued expansion of the city’s wealth management and family office sectors is also expected to bring new sources of demand, further strengthening Hong Kong’s position as one of the world’s leading destinations for luxury residential investment.”
William Lau, Senior Director, Head of Residential Agency