The Burj Khalifa, an iconic symbol of Dubai, marks its 15th anniversary, and its property market remains one of the most sought after in the city. According to a report by Khaleej Times, property prices in the world’s tallest building are 78.5% higher than the Dubai-wide average, standing at Dh3,000 per square foot compared to Dh1,680 across the city. Rentals for one-bedroom apartments range between Dh150,000 and Dh180,000 annually, varying based on furnishings and floor levels.

Faisal Durrani, head of research for MENA at Knight Frank, explained that the Burj Khalifa performed impressively over the years despite limited availability of properties for sale. He noted that prices in the tower rose by 12.9% in 2024, while the city’s overall residential market saw a 19.1% increase.

The report highlighted that the Burj Khalifa has accounted for 0.5% of all residential sales in Dubai since 2010, contributing Dh8.8 billion overall. In 2024, the tower recorded Dh467.1 million in residential sales, a slight dip from Dh495.2 million in 2023, which was attributed to a 27% decline in homes available for sale.

The iconic building continues to attract high-net-worth buyers. In 2024, 98 non-branded units sold at an average price of Dh4.8 million each, with the most expensive being a two-bedroom apartment sold for Dh9.7 million. Additionally, 18 branded residences were sold, including a five-bedroom unit that fetched Dh44 million at Dh4,987 per square foot.

Rentals in the tower are also nearing their peak levels from 2015-2016, according to Betterhomes. The agency noted that occupancy rates have consistently remained between 85-90%, with rental yields of 5-6%, making the Burj Khalifa a preferred choice for investors.

As the Burj Khalifa turns 15, it continues to stand tall not only as an architectural marvel but also as a symbol of Dubai’s thriving luxury property market.