Contents
- 1 Key Highlights of Burj Khalifa’s 2024 Real Estate Performance:
- 2 Burj Khalifa: A Pillar of Dubai’s Luxury Real Estate
- 3 Market Trends and Insights
- 4 The Burj Khalifa’s Appeal: Key Factors Driving Demand
- 5 Table: Comparison of Non-Branded and Branded Residences in Burj Khalifa (2024)
- 6 The Future of Dubai’s Real Estate Market
Dubai’s Burj Khalifa Hits AED 467.1M in Home Sales in 2024
The Burj Khalifa, the world’s tallest building and an emblem of luxury living, recorded AED 467.1 million (USD 127.18 million) in home sales in 2024, as reported by Knight Frank. Despite a 5.7% drop compared to AED 495.2 million in 2023, the tower remains a focal point for high-net-worth individuals (HNWIs) investing in Dubai’s booming real estate market.
Key Highlights of Burj Khalifa’s 2024 Real Estate Performance:
- Total Sales: AED 467.1 million
- Average Price per Square Foot (PSF): AED 3,000
- 78.5% higher than Dubai’s city-wide average of AED 1,680 PSF.
- Total Units Sold: 98 non-branded residential units
- Average transaction price: AED 4.8 million per unit.
- Top Sale in Non-Branded Segment: AED 9.7 million for a two-bedroom apartment at AED 4,391 PSF.
- Top Sale in Branded Segment: AED 44 million for a five-bedroom unit at AED 4,987 PSF.
Burj Khalifa: A Pillar of Dubai’s Luxury Real Estate
Since its inauguration 15 years ago, Burj Khalifa has consistently driven Dubai’s real estate market, contributing AED 8.8 billion in home sales to date. The tower leads the emirate’s property market, outpacing Atlantis The Royal, which ranks second with AED 6.2 billion in sales.
With 1,862 units sold to date, 76% of Burj Khalifa’s residences are now valued at over USD 1 million, cementing its position as a global symbol of prestige and exclusivity.
Market Trends and Insights
Dubai’s real estate market witnessed unprecedented demand in 2024, with city-wide residential prices rising by 19.1% year-on-year. The Burj Khalifa’s property values mirrored this growth, climbing by 12.9% in 2024.
The influx of HNWIs into Dubai continues to fuel the city’s luxury real estate market. Knight Frank estimates a net inflow of 6,700 millionaires by the end of 2024, underscoring Dubai’s global appeal as a hub for prime real estate investments.
The Burj Khalifa’s Appeal: Key Factors Driving Demand
- Prime Location: Proximity to Dubai’s business districts, luxury retail, and entertainment hubs.
- Ultra-Luxury Features: Panoramic city views, state-of-the-art amenities, and exclusive services.
- Global Prestige: A status symbol for investors and residents alike.
- Robust Returns: Consistently high rental yields and capital appreciation.
Table: Comparison of Non-Branded and Branded Residences in Burj Khalifa (2024)
| Category | Non-Branded | Branded |
|---|---|---|
| Units Sold | 98 | 18 |
| Average Price (AED) | 4.8M | 44M |
| Highest PSF (AED) | 4,391 | 4,987 |
The Future of Dubai’s Real Estate Market
Dubai’s real estate market is defying global slowdown predictions. The city’s robust infrastructure, investor-friendly policies, and dynamic economy have eliminated the boom-and-bust cycles of the past.
Looking ahead, the Burj Khalifa and similar iconic developments will continue to attract international investors seeking secure, high-yield investments in one of the world’s most dynamic cities.
Contact Evantis Realty
For expert guidance on luxury real estate investments in Dubai, contact us:
- Phone: +971 54 480 9359
- Email: info@evantisrealty.com
- Website: https://evantisrealty.com/
Reference: https://gulfbusiness.com/burj-khalifa-hits-dhs467-1m-in-home-sales-in-2024/
Evantis Realty is a leading real estate brokerage in Dubai, specializing in high-end properties across the city. With years of experience and a deep understanding of the market, Evantis Realty offers personalized service and expert advice to help clients navigate the dynamic Dubai real estate market with confidence.
