Sharjah's real estate market has witnessed a remarkable surge in property transactions, reaching a record Dh40 billion in 2024. This significant increase, up from Dh27 billion in 2023, highlights the growing interest from both local and expatriate investors, particularly from Arab and Asian nations. The emirate's stability and the launch of new projects have been key drivers of this trend.
Key Takeaways
- Property transactions in Sharjah increased by 48% in 2024.
- Emiratis led the investment with Dh19.2 billion, accounting for 48% of total transactions.
- Investors from 120 nationalities participated in the market, up from 103 in 2023.
- A total of 45,676 properties were traded, a significant rise from 31,229 in the previous year.
Expatriate Investment Trends
The influx of expatriate investors has been particularly notable, with citizens from India, Syria, Iraq, Egypt, and Pakistan among the top buyers. The diverse nationalities investing in Sharjah reflect the emirate's appeal as a stable and lucrative market for real estate.
Growth in Property Transactions
According to Lamia Al Jewaied, director of the studies and research bureau at the Sharjah Real Estate Registration Department, the emirate recorded the highest transaction volume in its history in 2024. The total number of properties traded reached 45,676, showcasing a robust demand for real estate in the region.
Breakdown of Investments
- Emirati Investments: Dh19.2 billion (48% of total)
- Gulf Citizen Investments: Dh2.3 billion
- Arab Citizen Investments: Dh7 billion
- Investments from Other Nationalities: Dh11.5 billion
Mortgage Activity
The mortgage market also saw significant activity, with a total value of Dh10 billion through 2,558 transactions. This indicates strong confidence from banks in Sharjah's real estate market, further encouraging investment.
New Projects and Developments
In 2024, Sharjah registered 14 new residential, commercial, and industrial projects, including nine complexes and five towers. The emirate's ongoing development efforts are expected to continue attracting both local and international investors.
Future Outlook
Experts believe that Sharjah's property market has not yet reached its peak, suggesting further growth potential. Investors can anticipate rental returns of 8 to 10 percent, making it an attractive option for those looking to invest in real estate.
The combination of a stable market, strong infrastructure, and a variety of investment opportunities positions Sharjah as a prime destination for expatriate investors seeking to capitalize on the emirate's real estate boom.