Burj Khalifa, located in Dubai, UAE, is the tallest building in the world, famous for its architecture and luxury. This skyscraper, 828 meters high and 163 floors, is a symbol of luxury and prestige, which is certainly reflected in the value of the real estate inside it.
Factors affecting cost
- Location: Burj Khalifa is located in the center of Dubai, which in itself is an important factor. Living in the center of a metropolis with views of the city and the Arabian Gulf increases the cost of housing.
- Floor and view from the window: The higher the floor and the better the view from the window, the more expensive the apartment. A view of the Dubai Fountains or the Gulf can significantly increase the price.
- Size and layout: The cost of an apartment also depends on its area and number of rooms. Apartments with one, two, three bedrooms and more are available in Burj Khalifa.
- Level of finishes and furnishings: Many apartments in Burj Khalifa are sold with high quality finishes and luxury furnishings, which also affects the price.
Approximate prices
As of 2023, Burj Khalifa apartment prices vary depending on the above factors. Approximately, prices could be as follows:
- One-room apartment (studio): from 1,800,000 to 3,000,000 AED (from 490,000 to 820,000 USD).
- Two-room apartment: from 3,500,000 to 7,000,000 AED (from 950,000 to 1,900,000 USD).
- Three-room apartment: from 7,000,000 to 15,000,000 AED (from 1,900,000 to 4,100,000 USD).
Additional expenses
Purchasing property in the Burj Khalifa, like any other luxury property, includes a number of additional costs that should be taken into account when planning your budget. Here’s a detailed overview of these costs:
1. Taxes and fees for the purchase of real estate
Registration tax: In the UAE, at the time of purchasing real estate, you must pay a registration tax, which is 4% of the value of the property. This tax is collected by the Dubai Land Department (DLD).
2. Legal services and paperwork
Legal services: The purchase of real estate is usually accompanied by legal advice and the preparation of many documents. The cost of a lawyer’s services may vary depending on the complexity of the transaction and the company providing the services, but on average it is 5,000 – 10,000 AED (1,360 – 2,720 USD).
Document preparation: Additional fees may apply for the preparation and execution of contracts, notary services, etc.
3. Annual service fees
Service Charges: In Burj Khalifa, service charges cover the cost of operation and maintenance of the building’s common areas such as elevators, corridors, swimming pools, gyms, etc. These charges depend on the size of the apartment and can range from AED 55 to AED 70 per square foot per square foot. year. For example, for a 1,500 square foot apartment, service fees could range from 82,500 to 105,000 AED per year (22,440 – 28,650 USD).
Maintenance and repairs: It is important to note that service fees do not always include the costs of ongoing repairs and maintenance inside the apartment. This may incur additional costs.
4. Furnishing and finishing costs
Furnishing: If the apartment is purchased unfurnished, it is necessary to take into account the costs of its purchase. The cost of furnishings varies depending on the owner’s preferences, but for luxury housing it can be tens of thousands of dollars.
Finishing: Some apartments are sold with basic finishing, and new owners may want to carry out additional work to improve the interior.
5. Utility payments
Electricity and water: Electricity and water costs depend on consumption, but for luxury apartments in Burj Khalifa, these costs can be significant considering the use of air conditioning, lighting, water supply and other utilities.
Internet and communications: Payment for Internet, television and other communication services is also included in the budget.
6. Insurance
Property Insurance: To protect your investment, it is recommended to insure your property against risks such as fire, flood, theft and others. The cost of insurance depends on many factors, including the size and value of the apartment, and the insurance coverage chosen.
Benefits of living in Burj Khalifa
Buying an apartment in Burj Khalifa provides not only prestigious housing, but also a number of privileges:
Access to luxury amenities: fitness centers, swimming pools, spas, private cinemas and more.
Security and confidentiality: high-quality security and privacy for residents.
Prestige and status: Owning an apartment in the tallest building in the world is a symbol of status and success.
Conclusion
Buying an apartment in Burj Khalifa not only requires a significant initial investment, but also takes into account various additional costs associated with registration, maintenance and upkeep of the property. It is important to plan your budget carefully and consult with professionals to ensure that all costs are transparent and predictable.
The cost of an apartment in Burj Khalifa may seem high, but it reflects not only prestige and luxury, but also a unique location, high quality of life and access to exceptional amenities. Buying an apartment here is not just an investment in real estate, but also the acquisition of a piece of world architectural heritage.
