The Burj Khalifa is the world’s tallest building, often adding value to apartments with views of the skyscraper. However, what is the expense of living in the actual building? Both owning and renting in the Burj Khalifa come with sky-high price tags, alongside the exclusivity of the address.
The Burj Khalifa Tower offers various residential units, each with views of the city’s skyline. The value of each unit changes depending on its size and location. The building houses 900 opulence residences, from studios to 5-bedroom apartments.
The building’s residents have to get entry to multiple facilities, together with an assembly area, library, jacuzzis, parks, a tennis court, pools, and more.
Buying an apartment in the Burj Khalifa
Prices of one-bedroom apartments in the world’s tallest building typically range from AED 2 million to AED 4 million (approximately $545,000 to $1,090,000).
- Type: One-bedroom
- Price: AED 3,349,888
- Area: 936 sq. ft.
The price range for a two-bedroom apartment in Burj Khalifa is AED 3.5 million to AED 7 million or roughly $950,000 to $1,900,000.
- Type: Two-bedroom + maid’s room
- Price: AED 7,500,000
- Area: 2,036 sq. ft.
For a three-bedroom apartment in the skyscraper, one can typically expect to pay from around AED 6 million to AED 12 million (approximately $1.6 million to $3.3 million).
- Type: Three-bedrooms, maid’s room
- Price: AED 8,000,000
- Area: 2,333 sq. ft.
The real estate market in Dubai is affected by various aspects, such as geopolitical circumstances, monetary conditions, and government policies. The Burj Khalifa generally sees higher price stability as a landmark property than other areas. However, potential buyers should thoroughly analyze the situation before making an investment plan.
Burj Khalifa rental rates
For those not keen to invest in an apartment, renting in the Burj Khalifa is feasible. Rental rates change based on the exact factors impacting purchase prices.
- 1-bedroom apartments: The monthly rental amount is between AED 15,000 and AED 25,000, or around $3,270 and $6,810
- The monthly rental cost of a two-bedroom apartment ranges from AED 20,000 to AED 40,000, or around $5,450 to $10,900.
- 3-bedroom apartments: Monthly rental costs range from AED 35,000 to AED 70,000 (approximately $9,530 to $19,060).
- 4-bedroom apartments and penthouses: Rentals can start at AED 60,000 monthly (roughly $16,340) and exceed AED 200,000 (approximately $54,460).
Service charges
There’s more to living in the Burj Khalifa than just paying your rent or mortgage. Residents are subject to annual service charges covering maintenance, security, and other building services. Service fees are expected to be between AED 60 and AED 70 per square foot as of 2024. per year (roughly $16.35 to $19.10). A 1,500 sq. ft. apartment translates to annual service charges of AED 90,000 to AED105,000 (approximately $24,500 to $28,600).
Utility costs
Utility costs per month in a building like the Burj Khalifa, including electricity, water, and cooling, can range from AED 3,000 to AED 6,000 (approximately $820 to $1,630) for a typical apartment.
Lifestyle and amenities
Living in the Burj Khalifa unlocks an array of opulence amenities, many of which are included in the service expenses. These amenities include:
- Fitness centers and pools: Residents can access state-of-the-art fitness facilities and multiple swimming pools.
- Concierge services: Available 24/7, the concierge services can assist with various needs, from restaurant reservations to personal shopping.
- Sky lobbies: Located on multiple floors, these offer communal spaces for residents
- Direct access to Dubai Mall
Also Read: Al Thowima Residences in Dubai: Luxury Redefined in the Heart of the City
Investment potential
Despite the increased costs, holding an apartment in the iconic building can lead to notable ROI. The rental yield in Burj Khalifa often ranges from 4% to 6%, falling among the top luxury apartment yields globally.
Whether you are considering purchasing or renting, understanding the full range of costs is important for making a knowledgeable decision.
Earlier this month, Arabian Business reported on whether it is still profitable to invest in Dubai real estate. Experts 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, the real estate expert at Tribeca Dubai.
