Arabian Business, 29 November, 2018
Dubizzle Property has revealed Sharjah’s most affordable real estate with water views as the emirate experiences a 6% year-on-year growth in real estate transactions.
The value of transactions surged to AED14.6 billion in the first three quarters of 2018, according to the Sharjah Real Estate Registration Directorate (SRED), while apartments in the emirate witnessed a year-on-year decrease in rentals in the first nine months of the year.
Dubizzle identified Al Khan as the most pocket-friendly location for investors, with one-bedroom apartments averaging AED 523,000, two-bedrooms at AED 742,000 and three-bedrooms at AED1.1 million per year for rent.
For those searching for one bedroom apartments, Al Khan was identified as the most affordable option, averaging at AED 30,200 per year (-11 percent year-on-year), followed by Al Majaz at AED30,400 (-13 percent), Al Majaz 3 at AED 31,000 (-14 percent) and Buhaira Corniche at AED 34,000 (-13 percent).
Three-bedroom apartment prices in Al Khan stood at an average of AED 51,400 (-24 percent) making them the most affordable location near the Corniche, followed by Al Majaz 3 averaging at AED 55,000 (-9 percent), Al Majaz at AED 61,000 (-2 percent) and Buhaira Corniche at AED 72,000 (-13 percent).
Investors seeking properties for sale can opt for Al Khan area, where one-bedroom apartments average AED 523,000, two-bedrooms at AED 742,000 and three-bedrooms at AED 1.1 million.
Prices for a one bedroom in Al Majaz average AED 730,000, two-bedrooms at AED 996,000 and three-bedrooms at AED 2.2 million. Al Majaz 3 one-bedrooms average AED 638,000, two-bedrooms at AED 1.6 million and three-bedrooms at AED 2.5 million.