Sharjah's real estate market has witnessed a remarkable surge in property transactions, reaching a record Dh40 billion in 2024. This growth is largely attributed to increased investments from expatriates and local citizens, reflecting the emirate's appeal as a stable and lucrative market for real estate investment.
Key Takeaways
- Property transactions in Sharjah increased by 48% from 2023.
- Total investments reached Dh40 billion, up from Dh27 billion.
- Emiratis were the top investors, contributing Dh19.2 billion.
- Investors from 120 nationalities participated in the market.
- The number of properties traded rose to 45,676 in 2024.
Record Growth in Property Transactions
The Sharjah Real Estate Registration Department reported that property transactions surged by 48% in 2024, marking the highest volume in the emirate's history. The total value of transactions reached Dh40 billion, a significant increase from Dh27 billion in 2023. This growth is driven by a combination of new project launches and the overall stability of the real estate market, attracting a diverse range of investors.
Diverse Investor Base
The influx of investment has been notable, with Emiratis leading the charge. They accounted for 48% of the total investments, amounting to Dh19.2 billion. Other significant contributors included:
- Gulf Citizens: Dh2.3 billion
- Arab Citizens: Dh7 billion
- Investors from Other Countries: Dh11.5 billion
The diversity of the investor base is reflected in the participation of individuals from 120 different nationalities, up from 103 in the previous year.
Increased Property Trading Activity
In 2024, the number of properties traded reached 45,676, a substantial increase from 31,229 in 2023. Emiratis were the most active, trading 30,638 properties, followed by investors from India, Syria, Iraq, Egypt, and Pakistan. This uptick in trading activity underscores the growing confidence in Sharjah's real estate market.
Mortgage Activity and New Projects
The value of mortgages in Sharjah also saw a significant rise, totaling Dh10 billion through 2,558 transactions facilitated by 32 financing entities. The Muwailih Commercial area emerged as the most active, followed by Um Fanain and Tilal.
In addition to the increase in transactions, 14 new residential, commercial, and industrial projects were registered in 2024, including 9 complexes and 5 towers. Furthermore, 20,197 properties were traded in real estate development projects, indicating a robust development pipeline.
Factors Driving Demand
Several factors contribute to the heightened demand for real estate in Sharjah:
- Strong Infrastructure: The emirate boasts a well-developed infrastructure that supports residential and commercial growth.
- Low Market Volatility: Investors are drawn to the stability of the Sharjah market, which offers a safer investment environment.
- Ease of Transactions: The process of buying and selling properties in Sharjah is streamlined, making it attractive for both local and expatriate investors.
Future Outlook
Experts believe that Sharjah's property market has not yet reached its peak, suggesting further growth potential. Investors can expect rental returns of 8 to 10% when purchasing property in the emirate, making it an appealing option for those looking to invest in real estate.
As Sharjah continues to attract a diverse range of investors, the emirate's real estate market is poised for sustained growth, solidifying its position as a key player in the UAE's property landscape.