How much does it cost to live in the Burj Khalifa?
Burj Khalifa is the tallest building in the world, which often increases the cost of apartments with a view of the skyscraper, but how much does it cost to live in the building itself? Both ownership and renting in Burj Khalifa come with high prices, as well as the exclusivity of the address.
The tower features a range of residential units, each offering a view of the cityscape. The cost varies depending on the size and location of the apartment. There are 900 luxurious residences in the building, ranging from studios to five-bedroom apartments.
Residents of the building have access to several amenities, including a library, conference room, jacuzzi, pools, parks, tennis court, and more.
Buying an apartment in Burj Khalifa
Prices for one-bedroom apartments in the world’s tallest building typically range from $545,000 to $1,090,000.
Two-bedroom apartments in Burj Khalifa can cost between $950,000 and $1,900,000.
For a three-bedroom apartment in the skyscraper, prices usually start from $1.6 million and go up to $3.3 million.
Various factors affect the real estate market in Dubai, such as economic conditions, geopolitical events, and government policies. Burj Khalifa, being a landmark property, usually maintains higher price stability compared to other areas. However, potential buyers should conduct thorough market research before making investment decisions.
Rental rates in Burj Khalifa
For those who don’t want to invest in an apartment, renting in Burj Khalifa is a viable option. Rental rates depend on the same factors that influence purchase prices.
One-bedroom apartments: Monthly rents range from $3,270 to $6,810.
Two-bedroom apartments: They can be rented for $5,450 to $10,900.
Three-bedroom apartments: Monthly rental costs vary from $9,530 to $19,060.
Four-bedroom apartments and penthouses: Rental prices start from $16,340 and can exceed $54,460.
Service charges
Living in Burj Khalifa entails not only paying rent or mortgage. Tenants must also pay annual service charges, covering maintenance, security, and other building services.
As of 2024, service charges are approximately $16.35 to $19.10 per square foot per year. For a 1,500-square-foot apartment, this means annual service expenses ranging from $24,500 to $28,600.
Utilities
Utilities in a building like Burj Khalifa, including electricity, water, and cooling, can cost between $820 and $1,630 per month for a typical apartment.
Lifestyle and amenities
Living in Burj Khalifa grants access to numerous luxurious amenities, many of which are included in the service charge. These amenities include:
Fitness centers and pools: Residents have access to modern fitness centers and numerous pools.
Concierge services: Concierge services are available 24/7 and can assist with various tasks, from restaurant reservations to personal shopping.
Sky lobbies: Located on different floors, they offer common areas for residents.
Direct access to the Dubai Mall shopping center
Investment potential
Despite the high cost, owning an apartment in the iconic skyscraper can yield significant investment returns. Rental yields in Burj Khalifa often range from 4 to 6%, which is one of the best rates among elite apartments worldwide.
Whether considering buying or renting, understanding the full extent of costs is necessary for making an informed decision.
