Dubai real estate: How much does it cost to live in the Burj Khalifa? Details revealed
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Apartments with views of the Burj Khalifa have a relatively higher price tag than those that do not, however, how much does it cost to live in the iconic building itself?
The Burj Khalifa stands as the world’s tallest building, often adding value to apartments with views of the skyscraper but how much does it cost to live within the building itself? Both owning and renting in the Burj Khalifa comes with sky-high price tags alongside the exclusivity of the address.
The tower offers a range of residential units, each offering views of the city’s skyline. The cost varies depending on the size and location of the unit. The building houses 900 luxury residences from studios to five-bedroom apartments.
Residents of the building get access to several facilities including a library, meeting space, jacuzzis, pools, parks, tennis court and more.
Buying an apartment in the Burj Khalifa
Prices of one-bedroom apartments in the world’s tallest building typically range from AED2 million to AED4 million (approximately $545,000 to $1,090,000).
Two-bedroom apartments in the Burj Khalifa can cost between AED3.5 million and AED7 million (approximately $950,000 to $1,900,000).
For a three-bedroom apartment in the skyscraper, one can typically expect to pay from around AED6 million to AED12 million (approximately $1.6 million to $3.3 million).
The real estate market in Dubai is influenced by various factors such as economic conditions, geopolitical events, and government policies. The Burj Khalifa, being a landmark property, generally sees higher price stability compared to other areas. Nonetheless, potential buyers should conduct thorough market research before making investment decisions.
Burj Khalifa rental rates
For those not looking to invest in an apartment, renting in the Burj Khalifa is a viable option. Rental rates vary based on the same factors affecting purchase prices.
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Service charges
Living in the Burj Khalifa entails more than just rent or mortgage payments. Residents are subject to annual service charges, which cover maintenance, security, and other building services. As of 2024, service charges are approximately AED60 to AED70 per sq. ft. per year (approximately $16.35 to $19.10). For a 1,500 sq. ft. apartment, this translates to annual service charges of AED90,000 to AED105,000 (approximately $24,500 to $28,600).
Utility costs
Utility costs in a building like the Burj Khalifa per month, including electricity, water, and cooling, can range from AED3,000 to AED6,000 (approximately $820 to $1,630) for a typical apartment.
Lifestyle and amenities
Living in the Burj Khalifa offers access to an array of luxury amenities, many of which are included in the service charges. These amenities include:
Investment potential
Despite the high costs, owning an apartment in the iconic skyscraper can lead to significant returns on investment. The rental yield in Burj Khalifa often ranges from 4 percent to 6 percent, falling among the top in the range of luxury apartments globally.
Whether you are considering purchasing or renting, understanding the full scope of costs is essential for making an informed decision.
Earlier this month, Arabian Business reported on if it is still profitable to invest in Dubai real estate, experts said believe that the real estate market in Dubai?is thriving, attracting local and foreign investors eager to invest in property for profitable returns.
“Waiting for lower prices carries a risk, as prices are poised to continue rising” according to Gabriel Tamman, real estate expert at Tribeca Dubai.