Rent an Apartment at the Burj Khalifa -the Tallest Tower in the World
While tourism in Dubai has seen some strong recovery following the Arab Spring, the real estate market is still reeling from the repercussions of the economic crisis. As a resident this means affordable homes but for owners it’s still tough times. Owners of apartments in the tallest tower in the world – Burj Khalifa, are offering units on short-term rentals with leases starting from as little as Dh7,000 ($1,905) a week, an 80 per cent saving from its original cost. An advert by an owner of a studio and one bedroom apartment in Burj Khalifa, in a local classified and community portal, reads: “We offer a studio and one bedroom (1,150 sq ft) fully serviced apartments in the Burj Khalifa for short term stay. The apartments have spacious reception area, a semi closed kitchen plan, where bed rooms have an on-suite bath, a powder room for the guest.”
Another listing offered a 2,053 sq ft two-bedroom furnished apartment for lease on a weekly rate of Dh12,000 ($3,266) for a period between November 21 and 30, going up to Dh14,000 ($3,811) a week for the period between December 1 and 14 and Dh18,000 ($4,900) a week for the period between December 15 and January 7, 2012. Not much of an improvement since last year, when a Dubai-based company, was offering a one-night stay in a one-bedroom apartment in the Burj Khalifa from Dh1,300 ($353) onwards.
Currently, a studio apartment is being leased for Dh80,000 ($21,778) to Dh90,000 ($24,500) per year, one-bed starts from Dh130,000 ($35,389), while two-beds are available from Dh175,000 ($47,639). A sign of affordable times?