A Flat in Upscale Mumbai Costs More Than a Flat in Burj Khalifa!

Mohanad Alwadiya, Managing Director, Harbor Real Estate, Dubai said that "Things have changed now." Although, property prices are going beyond the reach in West Asia, home buyers can afford a house in Dubai as properties are still within reach of cash rich buyers.

"If we look at the current trends in Mumbai, Delhi, Bangalore and some other [Indian] cities, investing in property in Dubai is certainly attractive," according to Santhosh Kumar, CEO-Operations, Jones Lang Lasalle, a real estate consultancy firm.

Burj Khalifa is located in Dubai’s central business district and Palm Jumeriah and Marina are the up-market neighbourhood localities. Residential blocks are there in both Jumeirah and Downtown Dubai. However apartment in Jumeirah cost more because of its close proximity to beaches and also it offers the outstanding view of the Arabian Gulf. Whereas, in Downtown Dubai, an apartment of 1500 square feet costs around 3-4 crore which is 30-40 million).

Also Read: Indians Biggest First-Time Buyers of Dubai Property