Inside a Dubai apartment that costs Dh1 million a time to rent

How many times have you been given the grating little bit of tips that "renting is just money straight down the drain"?

Probably often, until you are already perched happily all on your own big comfy cushion someplace on the property ladder. In most of expatriate citizens in the UAE, renting is part of lifestyle - and, because so many people are renting, the sensation that your hard-acquired dirhams happen to be worming their approach down the plug-hole isn't quite hence overbearing.

Unless that's, you are paying much too much rent. Just how much is much too much? Very well that depends everything you earn.

So, to throw a figure in to the mix (before it is drain-bound), how about the Dh1 million ($272,000) annually it costs to hire this penthouse in Dubai's Bulgari Resort?

Rather than pay this sum, plenty of may choose to visit Rolls-Royce, see every region on earth - probably more often than once - as well as, dare we declare it, buy a real estate outright to reside in.

But if the wealthy among us are able it, then they should be able to base themselves in another of Dubai's premier addresses, with some of the best views in the town. The price was, after all, a lot more than Dh28 million.

Set on the special Jumeirah Bay Island, it really is 1 of 2 half-flooring penthouses within the residences and is pass on around 6,585 sq ft with four bedrooms.

Efficiency was in the forefront of the thinking by designers Antonio Citterio Patricia Viel and Companions, with open up living areas which are partially furnished - though it is actually listed due to "furnished". It offers that kind of half-moved in, half-moved out look.

Absolutely, one with the methods to pay this volume of rent would add their own bells and whistles, and the existing furnishings wouldn't impinge an excessive amount of an all style divergence. It really is white-walled and wooden floored nearly throughout, hence a dash of color wouldn't go amiss.

The kitchen is sleek with a breakfast bar that overlooks the water, providing that feeling of forever being on holiday. Outside there's an enormous wooden-decked terrace with the Burj Khalifa and Downtown Dubai obvious in the length, while people can of course utilize the private beach cove

It's a snip when compared to Dh2m you can pay in rent for a good villa found in Emirates Hills or perhaps on Palm Jumeirah. Flats in the Downtown area meanwhile can order up to Dh1.4m a year in hire. So, due to that, Dh1m, doesn't feel quite so heavy on the pocket.

Q&A: Richard Brock, luxury revenue director at Luxhabitat

Who / why would you pay Dh1m a year in rent? Carry out you come across various renters in the Dh1m bracket?

There are many luxurious properties above the Dh1m rent bracket in Dubai. We carry out still run into clients who have this kind of budget on the market; although not in abundance. We are specifically seeking for an UHNW consumer who has learned and appreciates the Bulgari brand.

It is classed as furnished but seems to include little furniture?

The apartment is furnished with all the current necessities, but requires a touch into the future occupants' personal belongings to make it a residence. It includes a minimalist feel and has been designed by Antonio Citterio Patricia Viel and Partners.

What would you conduct with a rental spending plan of Dh1m?

With a budget of Dh1m and above, you can lease in every the prime regions of Dubai - including mansions in Emirates Hills, Signature villas in Palm Jumeirah, together with penthouses in Downtown and DIFC. It’s all right down to client specs. If your client wants a unique magnificent seafront penthouse and enjoys the Bulgari brand, this might be the ideal postcode and a key location near to Downtown.

Is a property like this beyond market dynamics with Dubai rents having fallen?

There are incredibly few penthouses available to buy for rent. Renting this top quality penthouse in one of the best possible addresses in Dubai is normally a uncommon opportunity. Most penthouses can be found only for sale and are typically end-user purchases. The purchase price upon this flat was above Dh28m, so that it definitely falls beyond industry dynamics, remember both price and a really unique product.