According to Knight Frank, the largest analytical agency, the cost per square meter of living space in the elite Burj Khalifa skyscraper has increased to AED 2,100, almost 23% of the prices in 2020. This demonstrates the increased interest of investors in premium real estate. Although the building was put into operation more than two decades ago, the demand for apartments is not decreasing. The total value of residential transactions in the skyscraper in 2021 reached AED 317,000,000.
The exclusive nature of the tower is not only that it is in demand. The peculiarity of this skyscraper is that the view of it increases housing prices in other buildings. A good example was the villas in Palm Jumeirah, the highest sales value, one of which was AED 121,000,000. In addition to the resort location, one of the reasons for the high price was the view of the Burj Khalifa.
According to the consulting company ValuStrat Price Index, prices in such popular locations in Dubai as Lakes, Palm Jumeirah, and Arabian Ranches almost doubled in November alone. Investors are attracted by a well-developed infrastructure, a decent standard of living, and affordable prices compared to Europe.
