Bayut & dubizzle’s Ajman property market report Q3 2022
Bayut & dubizzle’s Ajman property market report Q3 2022 analyses the real estate data observed in the northern emirate from July to September 2022. As we enter the fourth and final quarter of the year, it becomes possible to identify recurring themes and trends Ajman’s resurgent real estate market has experienced in 2022 thus far.
A look at the collective data accumulated by Bayut & dubizzle during Q3 2022 reveals that:
- The average sales price-per-square-foot increased by up to 6% for apartments in Ajman, whereas rental costs have remained largely unchanged.
- When it comes to villas, sales prices have generally decreased, while rental villas became slightly more expensive.
For the Ajman property market report Q3 2022, data engineers at Bayut & dubizzle have analysed and compared data trends from Q3 2022 with those recorded in Q2 2022.
Please note that these prices are subject to change based on multiple factors, including amenities available, the developer involved in the project, respective locations and other key details.
AJMAN PROPERTY MARKET REPORT Q3 2022
The global economy has faced significant challenges in recent years for a variety of different reasons, not least of which is the pandemic. However, thanks to effective COVID-19 preventive measures and the business-friendly policies adopted by the UAE government, the country’s property market remains an attractive option for investment.
So, how did the Ajman real estate market fare during the third quarter of 2022? Let’s find out.
AJMAN DOWNTOWN IS THE MOST POPULAR AREA TO BUY APARTMENTS IN THE EMIRATE
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022 | 1-BED | 2-BED | 3-BED |
|---|---|---|---|---|---|
| Ajman Downtown | ROI 10.21% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Al Nuaimiya | ROI 6.38% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Emirates City | ROI 10.03% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Al Rashidiya | ROI 9.86% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Al Sawan | ROI 6.96% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Corniche Ajman | ROI 6.56% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Garden City | ROI 9.58% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Al Bustan | ROI 5.34% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Sheikh Maktoum Bin Rashid Street | ROI 5.28% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Al Zorah | ROI N/A | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2022
| 1-BED
| 2-BED
| 3-BED
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||||
Ajman property prices and search trends for the third quarter of 2022 showed that Ajman Downtown was the preferred option for buying apartments in the emirate:
- The average price-per-square-foot for apartments for sale in Ajman Downtown increased by 3.29%, to average at AED 184.
- The average financial investment for properties in Ajman Downtown averaged at AED 156k for 1-bed, AED 210k for 2-bed and AED 297k for 3-bed flats.
Similarly, the Ajman market report Q3 2022 also highlighted buyers’ inclination towards apartments for sale in Al Nuaimiya:
- The per-square-foot sales price in Al Nuaimiya averaged at AED 370, showing an uptick of 2.63% in the last quarter.
- To buy a 1-bed flat in Al Nuaimiya, buyers paid an average of AED 156k. The sale prices for 2 and 3-bed apartments averaged at AED 305k and 473k, respectively.
As per our Ajman real estate market report Q3 2022, other popular areas for buying flats included:
- Emirates City
- Al Rashidiya
- Al Sawan
- Corniche Ajman
- Garden City
- Al Bustan
- Sheikh Maktoum Bin Rashid Street
- Al Zorah
Most areas recorded general increases in price-per-square-foot of between 3% to 5%. However, the average sales price-per-square-foot for apartments in Emirates City, Al Rashidiya and Al Bustan experienced dips of 1% and under.
AJMAN PROPERTY MARKET REPORT Q3 2022: AJMAN DOWNTOWN HAS THE HIGHEST ROI FOR APARTMENT SALES
As per the Ajman real estate market report Q3 2022, Ajman Downtown offered the best projected rental yields for apartment sales in Ajman:
- The expected ROI for Ajman Downtown stands at 10.21%.
- Emirates City, with an ROI of 10.03%, offered the second-best rental yields.
- Al Rashidiya and Garden City came in third and fourth on the list, both recording projected ROIs of more than 9.5%.
- 2 BEDS
- |
- 3 BATHS
- |
- 1870 SQFT
AL NUAIMIYA IS THE MOST POPULAR AREA TO RENT APARTMENTS IN AJMAN
POPULAR AREAS | STUDIO Avg. Yearly RentChange from Q2 2022 | 1-BED Avg. Yearly RentChange from Q2 2022 | 2-BED Avg. Yearly RentChange from Q2 2022 |
|---|---|---|---|
| Al Nuaimiya | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Al Rashidiya | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Ajman Downtown | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Al Rawda | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Al Jurf | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Emirates City | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Al Sawan | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Corniche Ajman | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Al Mowaihat | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Garden City | STUDIO Avg. Yearly RentChange from Q2 2022
| 1-BED Avg. Yearly RentChange from Q2 2022
| 2-BED Avg. Yearly RentChange from Q2 2022
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||
Al Nuaimiya topped the charts for popular areas to rent flats as per our Ajman market report Q3 2022:
- Rental costs in Al Nuaimiya increased by 1% to 5% for 1-bed and 2-bed flats, whereas the cost for studio rentals remained unchanged during Q3 2022.
- The average rent for a studio was AED 14k. Rising to AED 20k and AED 29k for 1 and 2-bed apartments, respectively.
Al Rashidiya also emerged as a favourite for rental apartments in Ajman:
- Rental prices in Al Rashidiya reported no change for studio and 1-bed flats. However, there was a 1.24% decrease recorded for 2-bedroom apartments in the area.
- For studio apartments, the average rent during Q3 2022 stood at AED 14k. Whereas, for 1 and 2-bed flats, the rental prices averaged at AED 19k and AED 27k, respectively.
During Q3 2022, these Ajman neighbourhoods were also popular among potential tenants looking for rental apartments in the emirate:
- Ajman Downtown
- Al Rawda
- Al Jurf
- Emirates City
- Al Sawan
- Corniche Ajman
- Al Mowaihat
- Garden City
- 2 BEDS
- |
- 3 BATHS
- |
- 1299 SQFT
- 2 BEDS
- |
- 3 BATHS
- |
- 1555 SQFT
THE 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 Yasmeen |
BUYING VILLAS Ajman Uptown | RENTING VILLAS Al Nuaimiya |
BUYING VILLAS Al Mowaihat | RENTING VILLAS Musherief |
BUYING VILLAS Al Zorah | RENTING VILLAS Al Jurf |
BUYING VILLAS Al Helio | RENTING VILLAS Al Hamidiyah |
BUYING VILLAS Al Aaliah | RENTING VILLAS Al Zahia |
BUYING VILLAS Al Hamidiyah | RENTING VILLAS Ajman Downtown |
BUYING VILLAS Al Tallah 2 | RENTING VILLAS Al Raqaib |
Al Yasmeen attracted the most interest from investors looking to buy villas in Ajman:
- The sales price for 3 and 4-bed villas in the area averaged at AED 963k and AED 1.13M, respectively. To buy a 5-bed villa in Al Yasmeen, the average investment is AED 1.31M.
Al Zahia was also a preferred option for investors looking to buy villas in Ajman:
- Villas for sale in Al Zahia recorded an average price of AED 995k for 3-bed units. The asking prices for 4 and 5-bed villas in Al Zahia averaged at AED 1.07M and AED 1.26M, respectively.
Other popular areas to buy villas in Ajman included:
- Al Rawda
- Ajman Uptown
- Al Mowaihat
- Al Zorah
- Al Helio
- Al Aaliyah
- Al Hamidiayah
- Al Tallah 2
- 6 BEDS
- |
- 8 BATHS
- |
- 3012 SQFT
AL HELIO OFFERS THE HIGHEST ROI ON VILLAS IN AJMAN
The following areas offered the highest returns on investment for villas in Ajman during Q3 2022:
- Buy-to-let villas in Al Helio recorded the highest projected ROI of 8.84%.
- Ajman Uptown villas offered average rental yields of 6.42%.
- Al Yasmeen, with an ROI of 6.32%, also recorded excellent rental returns during the third quarter of the year.
POPULAR AREAS TO RENT VILLAS IN AJMAN: AL RAWDA LEADS THE SEARCHES
According to the Ajman property market report Q3 2022, Al Rawda was the most popular area to rent villas:
- Villas for rent in Al Rawda averaged at AED 59k for a 3-bed, AED 61k for a 4-bed and AED 81k for a 5-bed villa.
Potential tenants also showed a preference for Al Mowaihat to rent villas in Ajman:
- The average rent for villas in the Al Mowaihat stood at AED 61k for 3-bed, AED 74k for 4-bed and AED 87k for 5-bed houses.
Other areas high on the list include:
- Al Yasmeen
- Al Nuaimiya
- Musherief
- Al Jurf
- Al Hamidiyah
- Al Zahia
- Ajman Downtown
- Al Raqaib
AJMAN PROPERTY MARKET REPORT Q3 2022: TOP OFF-PLAN PROJECTS IN AJMAN
Dahlia villas in Ajman Uptown emerged as the preferred option for buyers interested in off-plan investments. Al Rawda 2 in Al Rawda and The Fairways in Al Zorah also attracted considerable buyer interest for off-plan projects in Ajman.
And that wraps up our Ajman property market report Q3 2022. In general, it’s clear that Ajman’s real estate market continued to show encouraging levels of consistency and growth during the third quarter of the year. It would be a major surprise if those trends didn’t continue through Q4.
Looking to buy a property in Dubai? Bayut & dubizzle’s Dubai sales market report for Q3 2022 constitutes essential reading, containing popular price and search trends observed in the emirate from July to September 2022.
Stay tuned to MyBayut for further in-depth insights into the UAE property market.
Disclaimer: The above report (MKT RPT Q3 2022) is based on prices advertised by real estate agencies on behalf of their clients on Bayut & dubizzle and does not represent actual real estate transactions conducted in Ajman.
