The Burj Khalifa, a symbol of opulence and luxury in the middle of Dubai and home to many of the city’s uber rich who pay premium prices for the privilege to call the world’s tallest building their home. According to a report, the average property prices in the Burj Khalifa are 78.5% higher than the rest of Dubai city with a single-bedroom unit charging an annual rent of around 150,000 to 180,000 Dirham (over Rs 42 lakh).
Citing data shared real-estate consultants Knight Frank, a Khaleej Times report said that Burj Khalifa charged 3,000 Dirhams (Rs 70,000) per square foot compared to a city-wide average of Dh 1,680 per sqft at the end of 2024.
Figures released on the occasion of Burk Khalifa’s 15th anniversary revealed that the world’s tallest tower rentals skyrocketed in 2024, touching previous highs witnessed in 2015-2016.
According to property brokerage firm, Betterhomes, the monthly rent for a one-bedroom apartment in the Burj Khalifa had peaked in 2015-2016 at over Dh 180,000, while the lavish skyscraper charges between Dh 150,000 to Dh 180,000 annually, depending on furnishings and floor levels, Khaleej Times reported.
The data also revealed that the landmark tower always consistently maintains an impressive 85-90 percent occupancy with rental yields of 5-6%, making it a preferred choice for buy-to-let investors, the report said.
Knight Frank data revealed that Dubai has recorded a whopping Dh 1.77 trillion in sales of residential properties since 2010, with the Burj Khalifa accounting for 0.5 percent of this total, which translates to every 200th dirham spent on residential properties in Dubai being spent on owning a piece of the landmark building.
In 2024, Burj Khalifa recorded home sales worth Dh 467.1 million, 5.7 percent lower than the Dh 495.2 million figure in 2023. However, the figures are still solid considering the 27 percent dip in number of homes available for sale in the iconic tower, which highlights the building’s consistent appeal, especially among the super rich.
As per Knight Frank’s data, a total of 98 non-branded residential units were sold in Burj Khalifa in 2024 at an average price of Dh 4.8 million per unit, with a 2-bedroom apartment selling for the highest per square foot price in the segment at Dh 9.7 million. Additionally, 18 branded residential homes were also sold in the Burj Khalifa during the period with a 5-bedroom residential unit being the most expensive, fetching Dh 44 million at Dh 4,987 per sqft, the data revealed.
The Burj Khalifa was inaugurated in 2010, and has since sold Dh8.8 billion in residential units, the highest for a single building in Dubai city.
