By Parag Deulgaonkar www.emirates247.com
Indians have topped the list of buyers in Burj Khalifa, the world’s tallest tower, for the first six months of 2012, Emirates 24|7 can reveal.
The Dubai Land Department data on Burj Khalifa, sent exclusively to this website, reveals that Indians spent over Dh814 million on purchasing properties in the 828 metre-high iconic tower, while Iranians bought properties worth Dh470 million.
Britons were third in the list of top five buyers – nationality wise – purchasing properties worth Dh301 million.
Emiratis came in fourth, acquiring properties worth Dh238 million, while Pakistanis took the fifth slot, spending Dh210 million.
Apartment prices in the tower are showing signs of a “resurgence” with asking rates increasing by nine to 12 per cent in the first quarter of 2012 compared to fourth quarter 2011.
“Prices have increased in the first quarter of this year, as compared to the fourth quarter last year,” said Parvees Gafur, Chief Executive Officer, PropSquare Real Estate, a Dubai-based real estate consultancy.
Depending on the views whether they are Lake and Fountain views or Sea and Sheikh Zayed Road, the asking prices are between Dh2,850 and Dh3,600 per square feet compared to between Dh2,600 and Dh3,200 per square feet last quarter. More info