Sharjah property market recorded a growing trend in real estate transactions. This exponential growth of the attractive market is attracting businessmen, capitalists and investors. All of the buyers are looking for substantial returns in long and short-term scenarios. The Real Estate Registration Department of Sharjah reported a growth of 13% in property transactions for the year 2023 and in 2024 the performance is further booming.
Reasons why Capitalists, Investors and Businessman are Rushing Towards Sharjah Property Market
Let’s explore the major reasons capitalists, investors and businessmen are rushing towards the Sharjah property market.
Welcoming Market – 103 Investing Nationalities in Sharjah Properties
According to Gulf News, there are 103 investing nationalities as of 2023 whose buyers want to buy property in Sharjah. This massive number of 103 nationalities indicates the diversity growth rate, which was 21% as of 2023, and 12% in the year 2022.
Foreign or Non-Arab Investors also experienced a 165% increase in the trading volume with a staggering property traded volume of 131.7% rise. The mortgage transactions touched the height of Dh 7.5 Billion.
High Property Deed Transactions
The report highlights a 7.5% increase in the property deed transactions of 24,842 and the sales transactions reaching 8,731 in 232 diverse regions.
According to the Abdul Aziz Ahmed Al Shamsi, director-general of Sharjah Real Estate Registration Department:
“The robust growth in 2023 was driven by the real estate sector’s strength and versatility”
Seamless Property Units – Attracting all Buyers in Sharjah
One of the major reasons why different categories of buyers are shagging the property and waiting for the new launches is the seamless projects. Analysis showed that investors want to invest in the Sharjah property market as they are aware of the true potential of the property.
Improved Infrastructure in the Sharjah Property Market
Another feature that is attracting the Sharjah Property Market is the improved infrastructure that offers exclusive connectivity. The authorities of Sharjah are taking every possible measure including heavy investment in rod networks, transportation and utilities and other projects.
Appealing Prices of the Sharjah Properties
Affordable properties in Sharjah are another reason that is attracting large numbers of buyers, investors and capitalists. The real estate market is budget-friendly in the scenario of Sharjah. However, the prices of the property comparatively are higher. Following are the top five properties that are budget-friendly for the home buyers:
- Al Nahda
- Al Qasma
- Al Khan
- Al Qasimia
- Al mamzar
Each of the budget-friendly properties in Sharjah is exclusive and offers stunning views for its residents. Occupants will be able to enjoy the waterfront views and proximity to some of the key regions that walk away from their residences. These factors contribute significantly in the context of attracting buyers.
Cultural and Lifestyle Attractions
Sharjah real-estate market is also appealing the buyers including investors, capitalists and businessmen. Sharjah property for sale in Dubai is exclusive as it offers maximum exposure to Sharjah’s rich culture and dedication to preserving its traditions.
The Emirates homes the various cultures and Sharjah’s can give its residents the complete taste of the cultural exposure. The dynamic culture Sharjah property market offers includes enjoyment through the family-friendly environment, fresh atmosphere, art galleries, museums and heritage sites.
Luxury Amenities – Enjoy the life you dream
The properties in Sharjah are exceptional not only because they are located in one of the most sought-after regions, but as the residences are equipped with loads of amenities.
Some of the featured amenities which are appealing to buyers towards properties in Sharjah include recreational facilities, leisure facilities, beaches, parks, shopping and more.
Sharjah from a Future Perspective
The real-estate boom in Sharjah is showing no signs of slowing down leading to a reputable status. Currently, there are various affordable properties in Sharjah, but over time the prices will increase. According to the data, the average sales price for the living space is Dh 371,000 and is also a top location for apartment purchases.
From close analysis, it can be found that the prices of apartments in Sharjah have increased costing between Dh 601,000 and Dh1.01 million for buyers, and renters, the prices are between Dh 21,000 and Dh 45,000 for the annual rent.
Conclusion
Sharjah’s property market is booming and attracting various buyers including investors, capitalists and businessmen. Some of the major drivers identified from the analysis of Sharjah real estate include improved infrastructure, attractive prices, cultural and heritage exposure, seamless architecture, uncountable amenities and more. However, the prices of the property in Sahrjah are affordable. But in the near future due to the high demand of the projects and exceptional facilities, it may become unaffordable. Due to these aspects, buyers are rushing to buy and invest in the property market of Sharjah.
