Sharjah’s Real Estate Market Achieves 6-Year High in 2023 Transactions

Sharjah's Real Estate Market Achieves 6-Year High in 2023 Transactions

In 2023, Sharjah witnessed a remarkable surge in real estate transactions, reaching its highest level since 2017. This upswing indicates a growing interest among capitalists, businesspeople, and investors, driven by the potential for significant returns in both short- and long-term scenarios.

The Sharjah Real Estate Registration Department reported a substantial 13% increase in the volume of property transactions, amounting to Dh27 billion. This expansion reflects not only an increase in transaction size but also in the overall area covered and investor engagement.

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Abdulaziz Ahmed Al-Shamsi, Director General of the Sharjah Real Estate Registration Department, attributes this growth to the “strength and versatility” evident in Sharjah’s real estate market in 2023.

Key Highlights:

  1. Diverse Investor Participation:
    • The number of nationalities involved in real estate transactions reached 103, showcasing a significant 21% increase in diversity compared to 2022.
    • The total number of properties traded increased by 12%, indicating a growing global interest in Sharjah’s real estate.

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  1. Foreign Investor Impact:
    • Non-Arab foreign investors played a substantial role, contributing to a remarkable 165% increase in trading volume and a 131.7% increase in the number of properties traded.
    • Mortgages accounted for Dh7.5 billion in transactions, signifying a robust financial engagement by foreign investors.
  2. Regional and Local Contributions:
    • Gulf nationals and Arab citizens collectively represented 22% of the total investments, with Dh1.6 billion and Dh6 billion, respectively.
    • UAE citizens took the lead, contributing 56% of the investments.

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  1. Detailed Breakdown:
    • Foreign nationals constituted 21% of the total transactions, amounting to Dh6 billion.
    • Indian investors led the pack, trading 1,469 properties valued at Dh2.8 billion.
    • Syrian investors contributed Dh1.1 billion through 609 properties.
    • Other noteworthy contributions came from Iraqi, Jordanian, Egyptian, and Pakistani investors.

This surge in real estate activity positions Sharjah as a thriving and attractive market for a diverse range of investors. The data underscores the region’s resilience and potential for sustained growth.

For those seeking investment opportunities, Sharjah’s real estate market in 2023 presents a promising landscape marked by diversity, strength, and noteworthy returns.

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