BURJ KHALIFA CELEBRATES 14TH ANNIVERSARY WITH STRONG INVESTOR INTEREST
14th Anniversary of Burj Khalifa Marked by Robust Investor Enthusiasm
In 2024, as Dubai’s Burj Khalifa marked its 14th anniversary, the number of homes for sale in the tower plummeted by 52%, a trend indicating growing long-term investor interest and a positive shift in real estate dynamics. Despite the decrease in available homes, sales in the Burj Khalifa surged by 22%, totaling 117 transactions worth over $288.6 million, representing 7% of all sales in Downtown Dubai. Knight Frank’s analysis reflects the tower’s enduring appeal and its contribution to Dubai’s robust real estate market. Sales surge and low inventory affirm Burj Khalifa’s pivotal role in Dubai’s real estate.
Long-term Investors Emerging at Burj Khalifa
Dubai’s status as a hub for luxury second homes has driven a significant influx of international buyers, spurring a 38% increase in city-wide property prices since March 2021, with the Burj Khalifa leading the surge at a 55.4% price growth, according to Faisal Durrani of Knight Frank. This heightened demand, coupled with a 52% decrease in available homes in the Burj Khalifa, highlights Dubai’s appeal to long-term residents and high-end buyers, contributing to the tower’s $2.66 billion in sales since its inception 14 years ago.
Affordable Luxury
In 2023, Dubai’s prime residential areas, including Palm Jumeirah and Emirates Hills, experienced significant growth, leading to a 16% rise in prime residential prices and positioning Dubai as the third most promising global prime residential market. Despite this surge, Dubai remains one of the most affordable luxury home markets, with prime prices around $1,018 per square foot, and Downtown Dubai emerging as a highly sought-after location for high-net-worth individuals.
Dubai’s status as a hub for luxury second homes has driven a significant influx of international buyers, spurring a 38% increase in city-wide property prices since March 2021, with the Burj Khalifa leading the surge at a 55.4% price growth, according to Faisal Durrani of Knight Frank. This heightened demand, coupled with a 52% decrease in available homes in the Burj Khalifa, highlights Dubai’s appeal to long-term residents and high-end buyers, contributing to the tower’s $2.66 billion in sales since its inception 14 years ago.
Affordable Luxury
In 2023, Dubai’s prime residential areas, including Palm Jumeirah and Emirates Hills, experienced significant growth, leading to a 16% rise in prime residential prices and positioning Dubai as the third most promising global prime residential market. Despite this surge, Dubai remains one of the most affordable luxury home markets, with prime prices around $1,018 per square foot, and Downtown Dubai emerging as a highly sought-after location for high-net-worth individuals.
Long-term Investors Emerging at Burj Khalifa
Dubai’s status as a hub for luxury second homes has driven a significant influx of international buyers, spurring a 38% increase in city-wide property prices since March 2021, with the Burj Khalifa leading the surge at a 55.4% price growth, according to Faisal Durrani of Knight Frank. This heightened demand, coupled with a 52% decrease in available homes in the Burj Khalifa, highlights Dubai’s appeal to long-term residents and high-end buyers, contributing to the tower’s $2.66 billion in sales since its inception 14 years ago.
Affordable Luxury
In 2023, Dubai’s prime residential areas, including Palm Jumeirah and Emirates Hills, experienced significant growth, leading to a 16% rise in prime residential prices and positioning Dubai as the third most promising global prime residential market. Despite this surge, Dubai remains one of the most affordable luxury home markets, with prime prices around $1,018 per square foot, and Downtown Dubai emerging as a highly sought-after location for high-net-worth individuals.
Dubai’s status as a hub for luxury second homes has driven a significant influx of international buyers, spurring a 38% increase in city-wide property prices since March 2021, with the Burj Khalifa leading the surge at a 55.4% price growth, according to Faisal Durrani of Knight Frank. This heightened demand, coupled with a 52% decrease in available homes in the Burj Khalifa, highlights Dubai’s appeal to long-term residents and high-end buyers, contributing to the tower’s $2.66 billion in sales since its inception 14 years ago.
Affordable Luxury
In 2023, Dubai’s prime residential areas, including Palm Jumeirah and Emirates Hills, experienced significant growth, leading to a 16% rise in prime residential prices and positioning Dubai as the third most promising global prime residential market. Despite this surge, Dubai remains one of the most affordable luxury home markets, with prime prices around $1,018 per square foot, and Downtown Dubai emerging as a highly sought-after location for high-net-worth individuals.
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