Burj Khalifa, the world’s tallest building, located in Dubai, is now offering studio flats on rent, with a price tag of $38,000 or 140,000 dirhams a year. These studio flats start from one bedroom flats, that can be rented for 180,000 to 260,000 dirhams and two-bed apartments, available for 300,000 dirhams. Even being the world’s tallest building, renting a studio apartment in Burj Khalifa is considerably far less expensive than renting a luxury studio apartment in New York, where such a property would set you back $48,000 a year, as against $7,000 a year for a studio flat in Burj Khalifa.
One of the primary reason for the renting trend to begin in Burj Khalifa, could be the high price tags that accompanied a flat, if it was to be sold instead of being rented. A real estate firm, Networth Real Estate was known to be offering potential buyers, apartments in Burj Khalifa at the rate of 3,250 dirhams a square foot, but this offer came under heavy resistance, especially from the apartment owners, who were extremely reluctant in selling these prestigious flats for anything other than 4,000 dirhams per square foot.
Furthermore, even the individuals interested in renting the flats are expected to spend plenty of time on the negotiation table, as the flat owners could ask for more rental, because of the sole fact that, the owners themselves have to pay 52.77 dirhams per square foot in annual service charge for hot and cold water and community service, for the apartments they own.
Via Yahoo! Business