Sharjah Sees Property Boom in March

Sharjah's real estate market continued its upward trend in March 2024, recording AED 3.1 billion worth of transactions. This positive performance comes on the heels of a strong showing in February, solidifying the emirate's position as a compelling investment destination.

The Sharjah Real Estate Registration Department reported a total of 2,606 transactions across various regions and cities. These transactions encompassed a diverse range of properties, including residential, commercial, industrial, and agricultural lands. Notably, sales transactions comprised a significant portion of the market activity, accounting for 32.1% of the total value. This translates to 837 sales transactions valued at AED 3.1 billion.

The report further revealed that mortgage transactions reached AED 1.1 billion, representing 12.8% of the total. This indicates a growing appetite among investors to leverage financing options to enter the Sharjah property market. The remaining transactions, categorized as "others," accounted for 55.1% of the overall volume.

In terms of geographical distribution, Muwailih Commercial retained its position as the most active area for sales transactions. The area witnessed a remarkable 156 transactions in March. Rawdat Al-Qart followed closely with 119 transactions, highlighting its attractiveness to investors. Other prominent areas included Al-Khan and Tilal, which registered 62 and 49 transactions respectively.

The buoyancy in Sharjah's real estate market can be attributed to several factors. The emirate's government has implemented a series of investor-friendly measures, including streamlined regulations and attractive incentives. This has fostered a more transparent and business-conducive environment, making Sharjah a viable alternative to Dubai's premium property market.

Furthermore, Sharjah offers a wider range of property options at comparatively reasonable prices. This value proposition is particularly appealing to budget-conscious investors and first-time buyers. Additionally, the emirate's well-planned infrastructure, with its focus on family-oriented communities, is proving to be a major draw for residents seeking a high quality of life.

Looking ahead, experts anticipate that Sharjah's property market will maintain its growth trajectory. The emirate's strategic location, coupled with its ongoing infrastructure development projects, is expected to fuel further market expansion. As Sharjah continues to solidify its reputation as a dynamic business and cultural hub, the demand for both residential and commercial properties is likely to surge in the coming months.

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