In a testament to its burgeoning real estate sector, Sharjah witnessed a surge in property transactions totaling Dh3.1 billion in February, fueled by heightened interest from Arab, international, and local investors.

Read more : Ajman Real Estate Sector Revamp: JLL Crafting New Competitive Strategy

The latest “Real Estate Transactions and Mortgages Movement” report from the Sharjah Real Estate Registration Department revealed a robust market performance, with a total of 4,458 transactions recorded, including 1,048 sales deals, constituting 23.5% of the total. Mortgage transactions, totaling 355, accounted for 8.0% of the total value, amounting to Dh581.4 million.

Leading the charge in transaction volume was the Muwailih commercial area, registering 213 sales transactions, followed closely by Rawdat Al Qar, Al Mazairah, and Al Khan areas, each recording 77 transactions.

Read more : Ajman’s Real Estate Revamp: JLL Consultancy Takes the Lead

In terms of transaction value, Muwailih Commercial Area emerged as the top trading hub with transactions worth Dh382 million. Um Fanain and Al Khan followed suit with Dh109.5 million and Dh84.2 million, respectively.

Further analysis revealed Blida as the central region’s top performer in terms of trading volume, while Al Madina Al Qasimia boasted the highest concentration of transactions.

Read more : The UAE Ranks as the Most Stable Economy Globally and 10th Best Country in Soft Power

The Northern Emirates’ Annual Property Market Report from Dubizzle corroborated Sharjah’s real estate market’s upward trajectory in 2023, citing sustained demand and escalating prices for both sale and rental properties.

Key neighborhoods such as Al Khan, Muwaileh, Al Tai, Al Jazzat, Al Nahda, and Al Qasimia emerged as prime destinations for prospective tenants and buyers. Apartment prices witnessed a notable increase, ranging from Dh601,000 to Dh1.01 million for sale and Dh21,000 to Dh45,000 for annual rent.

Read more : Confident Group Debuts in Dubai with Lancaster Luxury Residences

Al Khan emerged as the most sought-after neighborhood for apartment purchases, boasting an average price of AED 948,000 and a promising return on investment (ROI) of 3.51%. Meanwhile, Al Majaz and Muwaileh gained traction for their impressive ROI, with Al Majaz topping the charts at 6.24%.

In the villa segment, Al Sabkha claimed the highest ROI at 6.23%, while Sharjah Sustainable City garnered attention with a notable ROI of 5.06%. Al Tai emerged as a preferred destination for villa rentals, offering an average annual rent of Dh111,000.

In summary, Sharjah’s real estate market continues to attract investors and tenants alike, driven by robust demand and promising returns across various neighborhoods, underscoring its position as a thriving investment destination in the region.