Affordable rates and high ROI attract investors to Sharjah & Ajman: Bayut reports
Both Sharjah and Ajman remain affordable alternatives for buying and renting properties in the UAE. Prices have dropped on average across popular districts for both Sharjah and Ajman, but ROI has remained high, reaching up to 7% in Sharjah and over 11% in Ajman for certain neighbourhoods as per Bayut’s Q1 market reports for 2019.
Price trends for Q1 2019 reveal that apartments in Sharjah have mostly witnessed minimal decreases between 2% – 6% for both sales and rentals, with prices staying stable in certain areas.
According to Bayut’s data, larger apartment units for sales in popular locations like Al Majaz and Al Khan have seen price declines under 6%. The most significant rental price changes have included decreases around the 11% mark in Abu Shagara and Al Khan. According to search trends, Al Majaz is most popular with investors to buy apartments in Sharjah. However, potential tenants turn to Al Nahda as their first choice for renting apartments in the emirate.
When it comes to villas in Sharjah, the area of Al Sabkha generated the most searches by both investors and renters.
For apartments in Ajman, the overall price trends for both sales and rents show marginal declines between 1%-6% with prices remaining stable in many areas. For apartment sales, the only significant declines are at the 7%-8% margin for units in Garden City and Al Sawan. As for the rental apartments, the most significant decreases are for units in Ajman Downtown, Al Rashidiya and Al Jurf, where prices have gone down by an average of 6%. In terms of popularity, Ajman Downtown has received the most interest from investors while for apartment rentals, Al Nuaimiya retains the top position in Q1 2019.
For villas in Ajman, Al Mowaihat is the most popular among investors whereas tenants are most interested in Al Rawda.
Haider Ali Khan, CEO of Bayut, said, “The property markets in both Sharjah and Ajman have grown substantially in recent years, with reputed builders such as Eagle Hills and Emaar exploring options here. Over the first quarter of 2019, both Sharjah and Ajman present a lucrative opportunity for investors. From a rental perspective as well, the combination of reasonable rents and easily accessible schools makes both these emirates extremely attractive options for families in the UAE.”
Offering a complete suite of real estate services and insights, Bayut releases detailed market reports highlighting the property trends in the UAE on a regular basis. Bayut is already a great success story in the UAE and has recorded impressive growth in the last few years, growing over 100% year-on-year over the last 5 years. It is well on its way to becoming the largest real estate portal in the UAE and have Bayut’s presence felt across the region.