Have you ever wondered how much it would cost to get a home next to your favorite celebrity? If you want to get a piece of the glitz and glamour of the celebrity world, check out our list. Based on PropertyFinder.ae sale listings, we’ve worked out the approximate cost of owning a house next to the likes of Shah Rukh Khan, Kate Hudson or the Bachchans.
Shah Rukh Khan
King Khan is not new to the real estate market in the UAE. In fact, last month, the Kal Ho Naa Ho actor launched a AED 2.3 million real estate project called The Royal Estates in Dubai. Besides acting as the face for real estate projects, he owns a 8,500 square foot Signature Villa on the Palm Jumeirah; the six-bedroom property was a generous gift from builder Nakheel back in 2007.
Where to buy: A six-bedroom Signature Villa on Frond K, the Palm Jumeirah
Price range: From AED 25 – 36 million
Average price: AED 31,736,027
It’s reported that Glee and Almost Famous actress Kate Hudson has invested in a 2,210 square foot apartment in the Palazzo Versace Dubai. With another similar resort in the Gold Cost, Australia, this luxury hotel is an upcoming billion-dirham project that’s still under construction.
Where to buy: Palazzo Versace, Culture Village, Dubai
Price range: From AED 2.4 – 62 million for a one- to six-bedroom duplex
Average price: AED 17,291,556 (for a flat in the area)
Bollywood actress Shilpa Shetty, well known for her appearance in Big Brother, was gifted an apartment in Dubai by her husband, Raj Kundra, for their first anniversary. The apartment is on 19th floor of the world’s tallest building, Burj Khalifa, and is bound to be a popular holiday home for the couple.
Where to buy: A studio or a one- to four-bedroom apartment in the Burj Khalifa
Price range: Anywhere between AED 2- 86 million
Average price: AED 17,018,169
Abhishek and Aishwarya Bachchan
Bollywood’s most famous power couple, Abhishek and Aishwarya Bachchan are the proud owners of a villa in Sanctuary Falls. The community has villas with four to six bedrooms, and is expected to be completed by the end of the year.
Where to buy: Sanctuary Falls, Jumeirah Golf Resorts
Price range: From AED 10 million – 20.6 million.
Average price: AED 12,050,851
How much to buy a celebrity Dubai home?
So how much will it cost?
At these values you would need to pay out a whopping 40 percent deposit (as an expat for properties over AED 5m).
To find out the approximate cost to take out a loan for any of these properties, we’ve provided a table below with the breakdown. Remember, this is a rough estimate, your loan amount is dependent on other factors such as salary and place of work. The calculations are based on a fixed rate for a 20 year mortgage for the first two years and variable for the rest of the period. We used these same calculations in our recent comparative cost to rent or buy in the UAE article.
|Celebrity||Property||Average cost of property (AED)||Loan amount (AED)||Monthly repayment Yrs 1 & 2 (AED) *||Monthly repayment Yrs 3-20 (AED) **|
|Kate Hudson||Palazzo Versace||17,291,556||10,374,934||65,794||75,218|
|Shilpa Shetty||Burj Khalifa||17,018,169||10,210,901||64,754||74,029|
|Abhishek & Aishwarya Bachchan||Sanctuary Falls||12,050,851||7,230,511||45,853||52,421|
|Shah Rukh Khan||Signature Villa, K Frond, Palm Jumeirah||31,736,027||19,041,616||120,756||138,052|
* The fixed rate of 2.61% for year 1 and 2 was calculated as an average of current market mortgage rate available on Souqalmal.com.
** The variable rate for years 3 to 20 was calculated using the current EIBOR of 0.7% + bank margin of 3% in years 3-20
Another power couple rumored to be interested in buying in the UAE are the Pitt-Jolies. Brad Pitt and Angelina Jolie are said to be looking at an island on Nakheel’s offshore The World project. Bollywood actors including Ranbir Kapoor and Akshay Kumar are also reportedly house-hunting in Dubai.