Burj Khalifa Rents Drop With 8% Occupancy

The world’s tallest building still has quite a bit of room left for eager apartment dwellers. A reported 8% of the Burj Khalifa’s 900 apartment have been occupied, a percentage which leaves more than a few empty rooms. Arguably the city’s most prestigious address, apartments are now available at the Burj Khalifa for prices 40 percent less when the building opened its doors just over 10 months ago.

A studio apartment can now be had for 80,000 AED and a one bedroom for 100,000 AED annually stated sales and leasing manager for Better Homes, Laura Adams according to The National. A number of units were also recently handed over by Burj Khalifa developer Emaar Properties, an action which has added to the amount of available apartments for rent.

Dubai witness a property boom during much of the Burj Khalifa’s construction and apartments sold for more than 10,000 AED per square foot during the peak of the market. The frenzy has dissipated and most units of the building now for sale are available for around 3,000AED per square foot, a remarkably low and accessible price range for those eager to have such a luxurious and prestigious address.