Rent of the tallest tower Burj Khalifa starts at 140,000 according to the latest news. Is there any possibility that the rent will come down in coming future? As UAE property is still not stable.
In recent scenario Burj Khalifa is one of the most famous icons of Dubai. This amount 140,000 is pretty heavy only business giants can afford this. As far the property rates and stability is concerned, my estimation enlightens that you never know about Dubai's property condition. Recession damaged Dubai's spinal column so hard but the fact is Dubai belongs to list of most rich and advanced countries.
They have strong, well-built strategies and plans for their future and they are seriously focusing on them I guess they won't let recession damage them again and for property buyer and sellers I can just say go for like they say 'expect the good and prepare for the worst'.
Lower oil production will ally with slowing construction activity to try and depress the UAE economy in 2009, The economy of UAE in 2010, Increase in oil price in the globe and market stabilization will help the country to recover their economy slump led by the collapse in real-estate and energy prices. The forecaster said by the end of 2010, especially for 2011, owing to the possibility of a w-shaped global recovery, with a new downturn. Many real estate projects have been cancelled or postponed because of the global financial crisis, and these may not resume if previous growth levels are not attained. Strength of the recovery depend upon the global growth and the timely resolution of imbalances in its domestic real-estate and credit markets otherwise the prices will further increase in up coming year.
I believe the rent is high but not too high. We have to realize the fact that this is the tallest tower in the world and therefore one would obviously expect to a pay a premium living in such a luxurious and prestigious property.
As far as any declines are concerned, one cannot say for sure how the rents are going to change for Burj Khalifa in the future. I wouldn't get my hopes high and we would really need to observe how quickly the building get occupied. If properties remain vacant for sometime then perhaps the rents might decrease a little but as I have already mentioned this is not very likely.
Hi,
Burj Khalifa is the tallest building on the planet earth and this difference makes it more valuable and attractive.One can only dream of visiting Burj Khalifa. From the business perspective Management can charge as much as it wishes to but they are dependent upon many factors such as Property rates, economic issues, buying power of the consumer and others.
So, according to the current situation where there is recession in the market the investor has a general observation to save rather than putting his money on stake. The management of Burj Khalifa needs to encourage investors and this can be done by keeping the prices low and then slightly increasing them with the passage of time.
I agree that the UAE property market is still not stable but it is in a much better shape than it was at the time of Burj Khalifa’s inauguration. So, I don’t think the rents at Burj Khalifa will decline in near future.
As Burj Khalifa is world's tallest tower and many investors are investing in it so the rate of rent will increase with the passage of time. As the demand of property increases, rate of property also increases accordingly. Demand of Burj Khalifa is at its top level so is the rent and it will not come down.
Burj Khalifa is no doubt the tallest building in the world. Another building taking over its record is too soon an assumption to get fulfilled. Burj Khalifa is not only the tallest building in the world but it also has a lot of other amenities packed in it. It was meant for a higher class to live in it and people going there can afford to rent out any residence they want. With so much to offer it is not hard to imagine that Burj Khalifa will remain a lucrative place for anyone with deep pockets. As already said once, the rents might get a dip but there exist almost no chances for that happening very soon.
I am agreeing to all that rents will not come down in near future, unless Dubai unveils a new project that will be more attractive for all as compared to Burj Khalifa. They also want to cash the popularity and craze of the world's tallest building in the world so let them do so.
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