Bayut & dubizzle’s annual Ajman market report for 2021: Rent and sales prices stabilise over the course of the year
2021 has been a year of recovery for the UAE real estate sector and the Ajman property market has also shown promising signs in that regard. While the Ajman property prices, in general, have not increased like other emirates, the fluctuations have hinted towards greater stability in the sector. To give you further insights into how these prices have fared in popular communities of the smallest emirate, we have studied consumer search trends on Bayut and dubizzle and put together a comprehensive analysis for our Ajman property market report 2021.
For accurate representations of property prices in Ajman, we have compared sales prices and rents of 2021 to those in 2020. Bayut & dubizzle’s annual report also includes the list of the most popular areas to buy or rent properties in Ajman and the average price-per-square-foot for different unit types in various communities.
Please note that these prices are subject to change based on multiple factors, including amenities available, the developer involved in the project, location, and other key details.
AJMAN PROPERTY MARKET REPORT 2021
Overall, Ajman has continued to be an attractive choice for property buyers, investors and potential tenants. Let’s look into our Ajman property market report 2021 to learn more about how popular neighbourhoods in Ajman have performed.
AL RASHIDIYA IS THE MOST POPULAR AREA TO BUY APARTMENTS IN AJMAN
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020 | 1-Bed | 2-Bed | 3-Bed |
|---|---|---|---|---|---|
| Al Rashidiya | ROI 7.33% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
| Ajman Downtown | ROI 9.19% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
| Corniche Ajman | ROI 6.06% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
| Emirates City | ROI 9.39% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
| Al Nuaimiya | ROI 5.74% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
| Al Sawan | ROI 6.88% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
| Garden City | ROI 9.63% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
| Al Bustan | ROI 5.24% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
| Al Yasmeen | ROI N/A | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
| Sheikh Maktoum Bin Rashid Street | ROI 5.22% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
| 1-Bed
| 2-Bed
| 3-Bed
|
Sharing borders with Sharjah, Al Rashidiya has emerged as the most popular area to buy apartments in Ajman.
Based on our Ajman property market report 2021, the average price-per-square-foot in Al Rashidiya has dropped from AED 410.98 to AED 275.63, recording a decline of almost 33%. This is likely to be due to a significant influx of smaller, lower-priced properties in the market. On average, interested buyers have had to pay AED 225k for a 2-bed flat for sale in the area, which is a slight dip from AED 253k in 2020. Likewise, a 3-bed apartment for sale in Al Rashidiya has been priced at AED 397k on average, compared to AED 774k in 2020, reflecting the overall decrease in the area’s average price-per-square-foot and lack of availability of ready, high-end properties on the market.
As per the data gathered for the Ajman property market report 2021, Ajman Downtown has jumped a spot to rank second in popularity when it comes to property seekers buying flats in the city. The area has recorded a slight decrease in terms of price-per-square-foot, going from AED 201.57 to AED 197.30.
The average sales price for a 1-bed flat in Ajman Downtown has slightly increased from AED 158k in 2020 to AED 159k in 2021. When it comes to 2-bed apartments, however, the average sales price has become more affordable, standing at AED 209k. The average asking price for a 3-bed apartment for sale in Ajman Downtown reduced from AED 310k in 2020 to AED 302k in 2021.
The third entry on our list of popular places to buy apartments is Ajman Corniche, where the overall price-per-square-foot has increased from AED 417 in 2020 to AED 430 in 2021. When it comes to average sales prices, the asking price for 1-bedroom flats here has increased from AED 306k to AED 321k. Similarly, buying a 2-bed apartment in Ajman Corniche has cost an average of AED 608k in 2021, compared to AED 585k in 2020. Interestingly, the average sales price for a 3-bed flat in Ajman Corniche has decreased from AED 820k to AED 803k.
Those looking to buy apartments in Ajman have also shown an interest in other residential communities such as Emirates City, Al Nuaimiya, Al Sawan and Garden City.
GARDEN CITY HAS THE HIGHEST ROI FOR APARTMENT SALES IN 2021
Based on our Ajman property market report 2021, the well-established community of Garden City has topped the list of most-searched-for areas when it comes to the highest ROI, with a 9.63% projected rental yield for apartments in Ajman. Emirates City has recorded projected rental yields of 9.39%, while the apartments for sale in Ajman Downtown have also offered healthy returns of 9.19% to investors.
AL NUAIMIYA IS THE MOST POPULAR AREA TO RENT APARTMENTS IN AJMAN
POPULAR AREAS | Studio Avg. Yearly RentChange from 2020 | 1-Bed Avg. Yearly RentChange from 2020 | 2-Bed Avg. Yearly RentChange from 2020 |
|---|---|---|---|
| Al Nuaimiya | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Al Rashidiya | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Al Jurf | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Al Rawda | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Ajman Downtown | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Emirates City | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Corniche Ajman | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Al Sawan | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Al Mowaihat | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Garden City | Studio Avg. Yearly RentChange from 2020
| 1-Bed Avg. Yearly RentChange from 2020
| 2-Bed Avg. Yearly RentChange from 2020
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||
Located close to the Sharjah border, Al Nuaimiya has been the most popular area to rent apartments as per our Ajman property market report 2021. Its location makes it ideal for people who regularly commute between the two emirates.
- 2 BEDS
- |
- 3 BATHS
- |
- 1599 SQFT
On average, the asking price for studio flats for rent in Al Nuaimiya has gone down slightly from AED 15k in 2020 to AED 14k in 2021. This reduction in average rent has been evident in the cost of 1-bed and 2-bed rental flats in Al Nuaimiya as well, which decreased by 4.62% and 2.94%, respectively, to average at AED 19k and AED 28k.
Al Rashidiya has ranked second among the popular areas to rent apartments in Ajman during 2021. This neighbourhood has experienced price drops of up to 6%, with the average rent for a studio flat in Al Rashidiya standing at AED 14k. The average rent for a 1-bed flat in Al Rashidya has dropped from AED 20k to AED 19k. The 2-bed apartments for rent that were available for AED 28k in 2020, have averaged at AED 26k in 2021.
Al Jurf has emerged as the third most popular area to rent flats as per our Ajman property market report 2021. There has been no change in the average rent of a studio in Al Jurf, which have remained steady at AED 13k. To rent a 1-bed flat, tenants have paid AED 19k on average, following a 2.56% decrease in the rents from 2020. However, the 2-bed rental flats in Al Jurf have become more expensive by 2.70%, to average at AED 27k.
Other popular areas among potential tenants looking for apartments include Al Rawda, Ajman Downtown and Emirates City that have experienced price fluctuations of up to 8.6%.
MOST POPULAR AREAS TO BUY AND RENT VILLAS IN AJMAN
Buying Villas | Renting Villas |
|---|---|
Buying Villas Al Yasmeen | Renting Villas Al Rawda |
Buying Villas Al Zahia | Renting Villas Al Mowaihat |
Buying Villas Al Rawda | Renting Villas Al Hamidiyah |
Buying Villas Al Mowaihat | Renting Villas Al Yasmeen |
Buying Villas Al Hamidiyah | Renting Villas Al Nuaimiya |
Buying Villas Al Helio | Renting Villas Al Jurf |
Buying Villas Ajman Uptown | Renting Villas Ajman Uptown |
Buying Villas Al Zorah | Renting Villas Musherief |
Buying Villas Al Jurf | Renting Villas Al Zahia |
Buying Villas Corniche Ajman | Renting Villas Al Rashidiya |
Located minutes away from Sheikh Mohammed Bin Zayed Road (E311) and Sheikh Maktoum Bin Rashid Street, Al Yasmeen has been the most searched area among property seekers interested in buying villas in Ajman. Its location remains a critical factor in its popularity looking at the general trend of the Ajman real estate market.
The price-per-square-foot in Al Yasmeen has gone up from AED 335.15 to AED 382.18 in 2021. The average sales price for a 3-bed villa in Al Yasmeen has stood at AED 965k. The 4 and 5-bed villas in Al Yasmeen have recorded average prices of AED 1.1M and AED 1.3M, respectively.
As per our Ajman property market report 2021, Al Zahia has been the second most popular area to buy villas in Ajman. The sales price-per-square-foot for villas has increased by nearly 6%, going from AED 317.48 to 336.20. To buy a 3-bed villa in Al Zahia, the cost has averaged at AED 926k. For a 4-bed villa, the asking sales prices have been just under the million mark at AED 966k on average, whereas the average sales price of a 5-bed villa in Al Zahia has been AED 1.2M.
Al Rawda has also been a popular area among those searching for villas for sale in Ajman. The properties here have recorded a 5% increase in price-per-square-foot, going from AED 340.44 to AED 359.19. For a 3 and 4-bed villa in the area, the sales prices have averaged at AED 953k and AED 1.3M respectively. To buy a 5-bed villa in Al Rawda, the average financial outlay has been AED 1.7M.
Besides the neighbourhoods mentioned above, Al Mowaihat, Al Hamidiyah and Al Helio 2 have also proved popular with prospective investors.
AREAS WITH THE HIGHEST ROI ON VILLAS
The expected return on investment is a major factor when it comes to buying properties. In terms of the most searched for areas with villas for sale, Ajman Uptown has offered the highest ROI, coming in at 7.65%. Al Zahia, with a 6.40% rental return rate, and Al Helio with a 5.96% yield, have also attracted investors looking for healthy returns on buy-to-let villas in Ajman.
TOP AREAS TO RENT VILLAS IN AJMAN
In this section of the Ajman property market report 2021, we look at the most popular areas to rent villas.
Based on our findings for the Ajman property market report, Al Rawda has been a firm favourite for rental villas in the city. Rents for villas in the area have gone up slightly in the last 12 months. On average, to rent a 3-bed villa in Al Rawda the cost has been fairly competitive at AED 57k. For a larger 4-bed villa, the asking rents have averaged at AED 63k. To rent a 5-bed villa in Al Rawda, tenants have paid AED 80k on average.
Al Mowaihat has emerged as the second most popular neighbourhood among tenants searching for villa rentals. AED 53k has been the average asking rent for a 3-bed villa in Al Mowaihat. Similarly, to rent a 4-bed villa in Al Mowaihat the average cost has stayed affordable at AED 62k. Those looking to rent a 5-bed villa have paid an average of AED 82k annually.
People interested in renting villas in Ajman have also searched for units in Al Hamidiyah. Due to its increasing popularity, rental prices have risen over the past year, especially for smaller units. The asking rent for a 3-bed villa in Al Hamidyah has gone up to AED 62k in 2021. The average rent for 4 and 5-bed villas has been AED 69k and AED 93k, respectively.
Those in search of rental villas in Ajman have also shown an inclination towards areas like Al Yasmeen, Al Nuaimiya and Al Jurf.
AJMAN PROPERTY MARKET REPORT 2021: TOP OFF-PLAN PROJECTS IN AJMAN REAL ESTATE
Off-plan projects in the northern emirate have also attracted investor interest during 2021. Al Helio 2 in Al Helio has been popular among investors looking for off-plan villas in Ajman, whereas those in search of off-plan apartments have preferred flats in Al Mazraa Tower in Al Amerah.
That’s a wrap on our Bayut & dubizzle Ajman annual market report for 2021. Wondering how real estate markets in other emirates fared this year? Read our comprehensive Dubai annual sales market report for 2021 to get meaningful insights into the buyer market there. Those living in the UAE capital can check out our detailed 2021 annual sales market report for Abu Dhabi.
Disclaimer: The above report is based on Ajman property prices advertised by real estate agencies on behalf of their clients on Bayut.com and dubizzle property (excluding room share) and is not representative of actual real estate transactions conducted in Ajman.
