Dubai Land Department data on Burj Khalifa property purchases reveals that Indian citizens spent over Dh814 million (US$ 222 million) on apartments in the world’s tallest building in the last six months, while Iranian acquisitions totaled Dh470 million ($128 million). The British were third on the list, purchasing properties worth Dh301 million ($82 million).
Emiratis came in fourth, acquiring properties worth Dh238 million ($65 million), while Pakistanis took the fifth slot, spending Dh210 million ($57 million).
Apartment prices in the tower are showing signs of a “resurgence,” with asking rates increasing 12 percent in the first quarter of 2012, Business Insider reports. The tower contains 900 apartments.
Asking prices now vary between Dh2,850 and Dh3,600 ($776 and $980) per square foot compared to Dh2,600 and Dh3,200 ($708 and $871) per square foot last quarter.
Overall, property sales for the first quarter 2012 touched Dh22.34 billion ($6 billion), according to local media. Cash sales accounted for 68 percent of transactions.