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Sharjah real estate prices favour buyers, tenants

Sharjah real estate prices favour buyers, tenants

Khaleej Times, 26 December, 2018

Sharjah remains a buyer’s and renter’s market with properties at an attractive price point, according to Bayut’s H2 report. Properties across most popular areas in the emirate experienced slight decreases in prices.

Changes that stand out for apartment rentals are the 13 per cent drop in prices for studios in Al Majaz, now standing at Dh20,000 from Dh23,000 in H1. This is followed by a smaller price decline of 11.5 per cent for 1-beds in Abu Shagara from Dh26,000 to Dh23,000 in H2. Other popular areas in Sharjah have seen modest decreases up to 10 per cent for apartment rentals.

Since H1, Al Nahda has made its way to the top for apartment rentals in Sharjah. Rentals for apartments in the area remain nearly the same with only slight declines.

Prices for apartments have decreased on average across the emirate. The most notable price changes are the 10.2 per cent decline in 1-bedroom apartments in Al Majaz and Al Nahda.

Haider Ali Khan, CEO of Bayut, said, “Similar to H1 and Q3, the moderate decline in property prices for Sharjah make it an opportune time for investors to broaden their property portfolio. Meanwhile, off-plan projects to be delivered in coming years and new property laws are paving the way for increased interest in property sales as well, reflected in the step-up of prices in developments like Sharjah Waterfront City. Sharjah also continues to rank as one of the most affordable emirates to live in when it comes to rentals, with prices decreasing across the board.”