Residential transactions in Q1 2024 dominated Sharjah real estate deals by contributing 80.9% of the transactions. The real estate sector in Sharjah is performing astonishingly well and more than what is expected by the real estate experts, forecasted for the Sharjah properties. According to the insights from the quarterly report by the Sharjah real estate registration department, 23,478 total transactions were recorded indicating a massive and notable 9.3% increase from the previous year of 2023. The trading value soared to AED 10 billion marking a significant milestone achievement in Sharjah real estate. However, another intriguing aspect observed is the rushing of investors to Sharjah real estate. There must be various reasons that fuelled this behaviour of investors. Let’s investigate in this blog what are the major drivers that caused this rushing behaviour of investors towards investment in Sharjah.
Major Reasons Causing Investors to Rush Towards Sharjah Properties
Here is a quick view of the features of Sharjah real estate that are attracting and making investors rush towards it.
- Diverse Economy
- Strategic Location and Infrastructure
- Favourable Business Environment
- Comprehensive Legal Framework
- High Quality of Life
Diverse Economy and Investment
Properties in Sharjah have seen a distinguished and notable trend of influx. For real estate, it is crucial to stay appealing to businessmen and capitalists, through which the capital appreciation remains substantial.
The observable feature of Sharjah real estate includes its diverse economy that stretches and incorporates manufacturing, real estate, education, transport, health, and offices. This aspect of a diversified economy has increased the investment opportunity for the investors.
Similar trends were observed in 2023 when Sharjah properties saw an increasing trend with a 6-year high record. One of the common features in the 2023 growth trend and Q1 2024 massive influx is the diversified investment made by the investors. As highlighted by Gulf News 103 nationalities invested in Sharjah representing 21% growth from 2022.
This also supports the narrative that a diversified economy and investment are attracting investors to invest in Sharjah real estate.
Strategic Location and Infrastructure
The strategic location and the outstanding infrastructure are another feature of the Sharjah real estate that has attracted the investors. The strategic geographical location of Sharjah is central which offers connectivity to some of the key locations including Asia, Africa and Europe.
Moreover, the presence of advanced infrastructure in the form of seaports, airports, modern highways and economic activities through trade is what is attracting investors. This is because people want to live in a place that has all the conveniences.
The commitment towards a diversified and strong economy is what Sharjah is all about. Investors are flocking to invest as are aware of the long-term benefits.
Favourable Business Environment
According to a reputable source, a favourable business environment is another major reason why investors are rushing towards investment in Sharjah properties.
The attractive investment incentives, Flexible payment plans, and tax exemptions make Sharjah real estate deals exclusive and attractive. Besides, Sharjah provides a completely business-friendly environment for the investors, will little or no bureaucracy.
Capitalists and investors can avail 100% foreign ownership in the free zones. Excellent logistical support regions and other relevant factors are appealing to investors.
Comprehensive Legal Framework
With a robust legal framework, investors can ensure security and efficiency in business-related operations. In Sharjah real estate deals the investors need to get complete security of rights and interests.
There are several initiatives implemented by the Sharjah government that have directly influenced and encouraged investment. The complete procedure of Sharjah property transactions has become simplified.
High Quality of Life
Investors are rushing towards investment in properties in Sharjah as it offers a high quality of life. This includes educational services, a secure environment, modern amenities, and more.
Sharjah is also awarded with the title of ‘Cultural Capital of the Arab World’ indicating its significance in Arab.
Sharjah real estate is booming and investors are here to invest without a doubt, as rich culture and traditions are preserved by the Emirates of Sharjah. The cultural vibrancy and the wide range of recreational activities including parks, shopping malls, beaches and more are increasing the demand for property in Sharjah.
Due to the high demand investors are willing to invest and offer the best and exclusive properties in Sharjah.
Conclusion
Sharjah real estate deals are witnessing an unprecedented influx of investment from investors. The capitalists and businessmen are showing a positive attitude towards the investment in Sharjah properties. The factors that are driving this behaviour include the business-driven atmosphere, advanced infrastructure, high quality of life, comprehensive legal framework, and strategic location. Sharjah real estate has seen similar distinguished growth in the property market in 2023, but this time from the start of Q1 2024 Sharjah real estate is showing a surging trend with investors rushing to invest.