Bayut & dubizzle’s Ajman real estate market report H1 2022
With the first six months of the year having flown by, it’s time for us to take a detailed look at how rent and sale prices for villas and apartments in Ajman have fared in 2022 thus far. For compiling this report, we have analysed search trends on both Bayut & dubizzle when it comes to Ajman real estate. In H1 2022 the conditions continue to be favourable for buyers and tenants in the real estate sector of the UAE’s smallest emirate, with prices largely remaining stable.
When compared to the data from July to December 2021, the average sales price of apartments has remained mostly stable. However, in terms of villas, the prices have recorded uptrends of up to 31% in some of the popular areas of the emirate. As for rental properties, prices for apartments in Ajman have decreased by up to 23%, whereas the asking rents for villas have fluctuated by 1% to 6%.
Even with a few areas recording significant price movements, Ajman’s property market remains largely stable. As reported by the Department of Land and Real Estate Regulation in Ajman, there has been an increase in the volume of real estate investments as the emirate endeavours to diversify investment prospects in the sector.
According to the Department of Land and Real Estate Regulation in Ajman, 5,428 real estate transactions valued at AED 6.2B were recorded during the first half of 2022. Part of it, as the report suggests, can be attributed to the improved business environment in Ajman that provides entrepreneurs with greater ease and convenience to set up and conduct their businesses.
The data analysis for Bayut & dubizzle’s Ajman real estate report for H1 2022 suggests that areas like Ajman Downtown, Emirates City, Al Nuaimiya and Al Rashidiya are popular amongst those looking for apartments for sale and/or rent. On the other hand, Al Yasmeen, Al Zahia, Al Rawda, Al Mowaihat and Ajman Uptown are the popular areas to rent and buy villas.
Let’s now break down the data in our Ajman real estate market report H1 2022 to examine the real estate market trends in the emirate.
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. This report compares sales and rental trends in Ajman during H1 2022 to those in H2 2021.
H1 2022 AJMAN REAL ESTATE MARKET REPORT
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 H2 2021 | 1-BED | 2-BED | 3-BED | |
|---|---|---|---|---|---|---|
| Ajman Downtown | ROI 10.03% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 3-BED
| |
| Emirates City | ROI 9.57% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 3-BED
| |
| Al Nuaimiya | ROI 6.06% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 3-BED
| |
| Al Rashidiya | ROI 9.68% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 3-BED
| |
| Corniche Ajman | ROI 6.58% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 3-BED
| |
| Al Sawan | ROI 6.96% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 3-BED
| |
| Garden City | ROI 9.58% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 2-BED
| 3-BED |
| Al Bustan | ROI 5.05% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 3-BED
| |
| Sheikh Maktoum Bin Rashid Street | ROI 5.23% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 3-BED
| |
| Al Owan | ROI N/A | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1-BED
| 2-BED
| 3-BED
|
An area with a lot of newly-built apartment buildings, Ajman Downtown has emerged as the most popular place to buy flats in Ajman. The area has recorded a 9% drop in price-per-square-foot, which averaged at AED 179 in H1 2022.
Our analysis of advertised property listings for the Ajman real estate market report H1 2022 has shown that investors have paid AED 210k on average to buy a 1-bed flat in Ajman Downtown. The average price for a 2-bed flat has dropped from AED 297k to AED 290k, whereas the 3-bed apartments have sold for AED 359k on average.
A project of R Holdings, Emirates City has also been a popular choice for prospective buyers. The per-square-foot price in Emirates City has decreased by 3.54% to stand at AED 169.
However, this change doesn’t reflect on the price of 1-bed apartments, which has remained unchanged at AED 166k. The average sales price for 2 and 3-bed flats, however, have recorded a price drop. For a 2-bed apartment for sale in Emirates City, buyers have paid AED 226k on average during H1 2022. The average price for 3-bed flats for sale has decreased from AED 254k to AED 241k.
Al Nuaimiya has also garnered a lot of buyer interest. The price-per-square-foot in this neighbourhood has also dipped, going from AED 383 during H2 2021 to AED 364 in H1 2022.
There has been a minor drop in the average price for 1-bed flats, which now stand at AED 322k. The 2-bed apartments for sale in Al Nuaimiya have been priced at AED 453k during H1 2022. Prices for 3-bed flats have decreased from AED 433k in H2 2021 to AED 424k in H1 2022.
Those interested in investing in Ajman real estate have also shown a preference for areas such as Al Rashidiya, Corniche Ajman, Al Sawan Garden City and Al Bustan for apartments.
H1 2022 AJMAN REAL ESTATE MARKET REPORT: AJMAN DOWNTOWN OFFERS THE HIGHEST RENTAL YIELD
Ajman’s most popular area to buy apartments, Ajman Downtown, has offered the highest projected ROI of 10.03% based on rental returns. It is followed by Al Rashidiya, Garden City and Emirates City, which have recorded average rental returns of 9.68%, 9.58% and 9.57%, respectively.
AL NUAIMIYA IS THE MOST POPULAR AREA TO RENT APARTMENTS IN AJMAN
POPULAR AREAS | STUDIO Avg. Yearly RentChange from H2 2021 | 1-BED Avg. Yearly RentChange from H2 2021 | 2-BED Avg. Yearly RentChange from H2 2021 |
|---|---|---|---|
| Al Nuaimiya | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Rashidiya | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Ajman Downtown | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Jurf | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Rawda | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Emirates City | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Corniche Ajman | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Mowaihat | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Garden City | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Sawan | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||
The data analysed for our Ajman real estate market report H1 2022 reflects that Al Nuaimiya has topped the popularity charts when it comes to searches for apartments for rent in Ajman.
The average rents in Al Nuaimiya have remained stable across all bed types. The rental costs for studios in Al Nuaimiya average at AED 14k, whereas the 1 and 2-bed flats have been priced at AED 19k and AED 28k, respectively.
Al Rashidiya, a locality near the Sharjah border, has also been popular amongst people looking for apartments for rent in Ajman. An analysis of the rental properties in Ajman during H1 2022 shows that renters can expect to pay AED 14k for a studio and AED 19k for a 1-bed apartment in the area. However, the average price for 2-bed apartments for rent in Al Rashidiya has recorded an uptick of 1.92%, to now stand at AED 27k.
- 2 BEDS
- |
- 2 BATHS
- |
- 1023 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 1099 SQFT
- 2 BEDS
- |
- 3 BATHS
- |
- 2169 SQFT
- 2 BEDS
- |
- 3 BATHS
- |
- 1399 SQFT
Ajman Downtown has also garnered considerable interest from those searching for rental flats. In H1 2022, Ajman Downtown studios and 1-bed flats have recorded no changes in price, averaging at AED 14k and AED 19k, respectively. To rent a 2-bed studio in Ajman Downtown, renters have paid AED 27k.
As per our Ajman H1 2022 market report, areas such as Al Jurf, Al Rawda, Corniche Ajman, Emirates City and Al Mowaihat have also attracted considerable tenant interest. Rents in most areas have remained stable from H2 2021 to H1 2022. However, in Al Rawda, a drop of 2% to 4% has been recorded.
Now that we have analysed apartment trends, let’s check out Ajman’s real estate market trends for buying and renting villas.
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 Ajman Uptown |
BUYING VILLAS Al Mowaihat | RENTING VILLAS Al Yasmeen |
BUYING VILLAS Ajman Uptown | RENTING VILLAS Al Zahia |
BUYING VILLAS Al Helio | RENTING VILLAS Al Nuaimiya |
BUYING VILLAS Al Zorah | RENTING VILLAS Al Jurf |
BUYING VILLAS Al Aaliah | RENTING VILLAS Al Hamidiyah |
BUYING VILLAS Al Hamidiyah | RENTING VILLAS Musherief |
BUYING VILLAS Al Tallah 2 | RENTING VILLAS Al Raqaib |
Al Yasmeen has remained a favourite for investors looking to buy villas in Ajman. The area has experienced a moderate drop in the price-per-square-foot, going from AED 387 in H2 2021 to AED 385 in H1 2022.
The average cost to buy a 3-bed villa in Al Yasmeen stands at AED 1.02M. Whereas 4-bed and 5-bed villas have reported an average sales price of AED 1.17M and AED 1.29M, respectively.
Investors have also shown interest in Al Zahia. Analysis of data for market report Ajman H1 2022 reflects a minor drop in price-per-square-foot, from AED 341 in H2 2021 to AED 340 in H1 2022.
To buy a 3-bed villa in Al Zahia, investors have paid AED 934k on average. For 4-bed villas, the average sales price stands at AED 970k. The reported average sales price for 5-bed villas has been AED 1.18M during H1 2022.
- 5 BEDS
- |
- 7 BATHS
- |
- 3012 SQFT
Al Rawda has been another popular area among those interested in buying villas in Ajman. The price-per-square-foot has dropped slightly in H1 2022, with the average price of 3-bed villas standing at AED 989k. Investors have paid on average AED 1.68M for 4-bed villas and AED 1.74M for 5-bed villas in H1 2022.
Other areas in Ajman that have attracted buyer interest during the first half of the year include Al Mowaihat, Ajman Uptown, Al Helio and Al Zorah. Generally, the price-per-square-foot in these areas have seen an uptick, with Ajman Uptown recording the highest increase of over 31%, mainly as a result of properties being listed at higher prices due to comprehensive demand.
AL ZAHIA AND Al YASMIN OFFER THE MOST HEALTHY RETURN ON INVESTMENT IN AJMAN FOR VILLAS
Those looking to buy villas in Ajman can consider Al Zahia and Al Yasmeen, where the projected ROIs stand at 6.62% and 6.06%, respectively. Similarly, Al Aaliah, Ajman Uptown and Al Helio all have a projected ROI of above 5%.
POPULAR AREAS TO RENT VILLAS IN AJMAN: AL RAWDA LEADS THE SEARCHES
Looking at the data available for the H1 2022 Ajman real estate market report, Al Rawda has been the most popular district to rent villas.
To rent 3-bed villas in Al Rawda, tenants have paid an average of AED 55k. The annual rent for 4-bed and 5-bed villas in Al Rawda has averaged at AED 65k and AED 80k, respectively.
Al Mowaihat has been another popular choice for those looking for rental villas in Ajman. There have been minor fluctuations reported in average rents for the area when compared with the data from H2 2021.
To rent a 3-bed villa in Al Mowaihat, tenants have paid AED 56k on average. The 4-bed villas for rent in the area have been priced at AED 63k. The average rent for 5-bed villas in Al Mowaihat has been reported at AED 82k.
- 5 BEDS
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- 6 BATHS
- |
- 3012 SQFT
- 3 BEDS
- |
- 6 BATHS
- |
- 3012 SQFT
The villas in Ajman Uptown are also widely popular with tenants in Ajman. The average rent of a 3-bed villa in Ajman Uptown has been AED 26k. For 4-bed villas, the average rent stood at AED 36k during H1 2022.
Other popular areas to rent apartments include Al Yasmeen, Al Zahia, Al Nuaimiya and Al Jurf. Generally, rents have remained stable in these areas throughout H1 2022.
AJMAN REAL ESTATE MARKET REPORT H1 2022: TOP OFF-PLAN PROJECTS IN AJMAN REAL ESTATE
Project | Area |
|---|---|
Project Dahlia | Area Ajman Uptown |
Project Al Rawda 2 | Area Al Rawda |
Project The Fairways | Area Al Zorah |
Off-plan properties have also garnered significant interest from investors. Here are the most popular off-projects in Ajman.
The smartly designed Dahlia villas in Ajman Uptown represent the most popular off-plan project. Investors have also shown keen interest in projects like Al Rawda 2 in Al Rawda and The Fairways in Al Zorah.
That concludes our H1 2022 Ajman real estate market report. With the market having been positive for both tenants and buyers in H1 2022, it’s fair to say that the smallest emirate’s real estate sector is in a good place heading into the latter six months of the year.
If you’re looking at properties for rent in Dubai, our Bayut & dubizzle’s Dubai rental market report for H1 2022 is an invaluable research source. Alternatively, Bayut & dubizzle’s H1 2022 Dubai property sales market report provides an in-depth analysis of how things have been fluctuating within the emirate’s real estate sales sector.
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Disclaimer: The above report 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.
