Bayut’s Annual Sharjah Market Report for 2024
With 2025 in full swing, it’s the perfect time to look back and analyse the property price trends across Sharjah during the last calendar year. Bayut’s 2024 Annual Market Report Sharjah offers detailed insights into the rent and sales price trends for apartments, villas and off-plan properties throughout the emirate.
AT A GLANCE: SHARJAH’S PROPERTY MARKET 2024
- Sharjah’s rental apartment market experienced significant growth, recording price increases of between 16% and 57%. Villa rentals in popular areas also experienced an upswing, with prices rising by up to 25%.
- In Sharjah’s sales market, the majority of popular areas recorded price increases of between 1% and 10% for apartments, except for Al Majaz, where apartment prices soared by 51.2%. Property price trends for villas in Sharjah also registered significant growth of up to 57.4%.
- Areas experiencing prevalent demand for apartment rentals and sales included Al Khan, Al Majaz, Al Nahda and Muwaileh. For villa rentals, popular choices among tenants included Al Tai and Hoshi, while investors looking to buy houses in Sharjah showed preference for Hoshi, Muweileh and Tilal City.
For the Sharjah annual market report 2024, our data analysts have compared the property rent and sale price trends observed in 2024 to those of 2023.
SHARJAH ANNUAL SALES MARKET REPORT: BUYING APARTMENTS IN 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | 1-BED | 2-BED | 3-BED |
|---|---|---|---|---|---|
| Al Khan | ROI 4.75% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 1-BED
| 2-BED
| 3-BED
|
| Al Majaz | ROI 4.41% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 1-BED
| 2-BED
| 3-BED
|
| Al Nahda (Sharjah) | ROI 7.50% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 1-BED
| 2-BED
| 3-BED
|
| Muwaileh | ROI 4.41% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 1-BED
| 2-BED
| 3-BED
|
| Aljada | ROI 5.86% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 1-BED
| 2-BED
| 3-BED
|
AL KHAN IS THE MOST POPULAR AREA FOR BUYING APARTMENTS IN SHARJAH
As per Bayut’s annual Sharjah Market Report 2024, Al Khan is the most sought-after area to buy apartments. The waterfront community comprises mid to high-rise building with abundant amenities such as gyms, security, high-speed elevators and community pools.
- The average price-per-square-foot for apartments for sale in Al Khan in 2024 averaged AED 864, reflecting a 2.80% increase from 2023.
- The average cost of a 1-bedroom flat stood at AED 752k, whereas the larger 2 and 3-bedroom units were priced at AED 1.07M and 1.44M, respectively.
Al Majaz also emerged as a popular option for buying apartments in Sharjah. The area is known for its various restaurants, shopping outlets and other activities.
- The price-per-square-foot for Al Majaz apartments averaged at AED 672 in 2024, indicating a notable 51.2% increase from 2023.
- The average price for 1-bedroom apartments for sale in Al Majaz Sharjah was AED 710. The 2 and 3-bedroom apartments for sale in Al Majaz were priced at averages of AED 841k and AED 1.18M, respectively.
According to the data harvested for the Bayut Sharjah Market Report 2024, Al Nahda, located on the border of Sharjah and Dubai, also garnered significant investor interest:
- The price-per-square-foot for flats for sale in Al Nahda stood at AED 420, reflecting a 7.57% increase from 2023.
- The average cost of 1, 2 and 3-bedroom flats for sale in Al Nahda Sharjah was AED 399k, AED 542k and AED 905k, respectively.
Besides the aforementioned areas, Muwaileh and Aljada also witnessed an upward trend in pricing and garnered significant investor interest.
- 3 BEDS
- |
- 4 BATHS
- |
- 1551 SQFT
- 2 BEDS
- |
- 2 BATHS
- |
- 1130 SQFT
- 1 BED
- |
- 1 BATH
- |
- 706 SQFT
- 2 BEDS
- |
- 3 BATHS
- |
- 1241 SQFT
- 2 BEDS
- |
- 2 BATHS
- |
- 1031 SQFT
- 2 BEDS
- |
- 3 BATHS
- |
- 2451 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 700 SQFT
- STUDIO
- |
- 1 BATH
- |
- 399 SQFT
AL NAHDA OFFERS AN IMPRESSIVE ROI FOR APARTMENT SALES IN SHARJAH
Based on the apartment sales trends observed for Bayut’s Sharjah annual real estate market report 2024, here are the areas with the highest ROI:
- Al Nahda offered the highest rental yield of 7.50%.
- ROI for apartments for sale in Al Khan was recorded at 4.47%.
- Al Majaz offered average projected rental yields of 4.41%.
SHARJAH ANNUAL RENTAL MARKET REPORT FOR 2024: PROPERTY PRICES IN SHARJAH FOR FLATS FOR RENT
POPULAR AREAS | STUDIO Avg. Yearly RentChange from 2023 | 1-BED Avg. Yearly RentChange from 2023 | 2-BED Avg. Yearly RentChange from 2023 |
|---|---|---|---|
| Al Nahda (Sharjah) | STUDIO Avg. Yearly RentChange from 2023
| 1-BED Avg. Yearly RentChange from 2023
| 2-BED Avg. Yearly RentChange from 2023
|
| Al Majaz | STUDIO Avg. Yearly RentChange from 2023
| 1-BED Avg. Yearly RentChange from 2023
| 2-BED Avg. Yearly RentChange from 2023
|
| Muwaileh | STUDIO Avg. Yearly RentChange from 2023
| 1-BED Avg. Yearly RentChange from 2023
| 2-BED Avg. Yearly RentChange from 2023
|
| Al Taawun | STUDIO Avg. Yearly RentChange from 2023
| 1-BED Avg. Yearly RentChange from 2023
| 2-BED Avg. Yearly RentChange from 2023
|
| Muwaileh Commercial | STUDIO Avg. Yearly RentChange from 2023
| 1-BED Avg. Yearly RentChange from 2023
| 2-BED Avg. Yearly RentChange from 2023
|
Al Nahda (Sharjah) remained a highly sought-after neighbourhood for tenants as per the Sharjah Market Report 2024. Its strategic location on the Dubai-Sharjah border continues to be a major draw for renters seeking convenient access to both emirates. This popularity is reflected in the significant rental price increases observed across all apartment categories.
- The average yearly rent for studios in Al Nahda (Sharjah) rose by 26.4%, demonstrating strong demand for these units.
- The rental price for 1 and 2-bedroom apartments also surged by 21.7% and 27.2%, respectively.
- Apartment rentals in Al Nahda (Sharjah) averaged AED 25k for studios, AED 31k for 1-bedroom units and AED 40k for 2-bedroom units.
Al Majaz also attracted considerable tenant interest. This popularity translated into consistent growth in rental prices across various apartment types.
- Studio apartments in Al Majaz indicate a 20.3% increase in rental prices. The rent for 1 and 2-bedroom units saw increases of 21.7% and 16.3%, respectively.
- Tenants looking to rent in Al Majaz generally paid AED 20k for studios, AED 33k for 1-bedroom units and AED 44k for 2-bedroom apartments, on average.
Muwaileh emerged as the third most searched-for area to rent flats in Sharjah. The area experienced the highest rental increases likely due to its affordability and accessibility. Its close proximity to educational institutions also ensures it is a popular option for students and young professionals.
- Studio apartments in Muwaileh saw a substantial increase of 56.2%. Rental costs for 1 and 2-bedroom flats increased by 47.5% and 36.3% respectively, highlighting the increased demand.
- On average, the cost to rent studios in the area was AED 21k. Renting 1 and 2-bedroom flats in Muwaileh cost AED 35k and AED 48k, respectively.
Other areas that garnered significant tenant interest for rental apartments based on Bayut’s Sharjah Annual Rental Market Report for 2024 include:
- Al Taawun
- Muwaileh Commercial
- Al Khan
- Aljada
- Al Qasimia
- Abu Shagara
- Al Mamzar
As per the statistical trends in Sharjah during 2024, average rental prices for apartments increased in all of the areas listed above.
SHARJAH REAL ESTATE MARKET REPORT FOR 2024: TOP AREAS TO BUY AND RENT VILLAS IN SHARJAH
Buying Villas | Renting Villas |
|---|---|
Buying Villas Hoshi | Renting Villas Al Tai |
Buying Villas Muwaileh | Renting Villas Hoshi |
Buying Villas Tilal City | Renting Villas Al Rahmaniya |
Buying Villas Al Rahmaniya | Renting Villas Muwaileh |
Buying Villas Al Tai | Renting Villas Al Sabkha |
Buying Villas Al Suyoh | Renting Villas Al Jazzat |
Buying Villas Al Sabkha | Renting Villas Tilal City |
Buying Villas Aljada | Renting Villas Sharqan |
Buying Villas Al Qarayen | Renting Villas Barashi |
Buying Villas Al Qadisiya | Renting Villas Al Ghafia |
According to Bayut’s 2024 Sharjah Annual Market Report, Hoshi continued to hold its position as the most preferred area to buy villas in Sharjah. With its tranquil ambience and convenient location near the Dubai-Sharjah border, Hoshi continues to attract a diverse range of tenants and buyers seeking serene yet accessible living:
- The average price-per-square-foot for villas for sale in Hoshi increased from AED 476 in 2023 to AED 572 in 2024.
- On average, a 3-bed villa in Hoshi cost AED 1.73M, with the average sales prices for 4 and 5-bedroom units standing at AED 2.27M and AED 3.16M, respectively.
Muwaileh witnessed an uptrend in demand for buying villas in Sharjah during 2024. Its easy access to major highways and strategic location are contributing factors in the area’s popularity among property buyers.
Here’s the breakdown of average costs for villas for sale in Muwaileh in 2024.
- A look at the average costs for villa sales in Muwaileh shows that the price-per-square-foot increased to AED 968 from AED 722 in 2023.
- The cost of 3, 4 and 5-bedroom villas for sale in the area averaged at AED 2.18M, AED 2.61M and AED 4.32M, respectively.
Tilal City emerged as one of the most sought-after areas for buying villas in Sharjah. The area gathered investor’s interest due to its freehold status. The mixed-used community is poised to become a major residential and commercial hub.
- The price-per-square-foot for villas for sale in Tilal City increased to AED 876.
- On average, investors paid AED 2.10M for 3-beds, AED 2.92M for 4-beds and AED 4.55M for 5-bedroom villas for sale in Tilal City.
- 3 BEDS
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- 4 BATHS
- |
- 2129 SQFT
ALJADA RECORDED THE HIGHEST ROI FOR VILLAS IN SHARJAH
The highest projected returns on investment (ROI) for villas in Sharjah during 2024 were observed in the following areas:
- The ROI for Aljada was 7.23%.
- Tilal City’s impressive rental yield on investment was 5.52%.
- The ROI for villas for sale in Muwaileh stood at 5.21%.
AL TAI WAS THE TOP RANKING AREA FOR VILLA RENTALS IN SHARJAH IN 2024
The Bayut Sharjah Market Report for 2024 indicates that Al Tai was the most preferred area for renting villas. The demand for rental villas saw an upward momentum in 2024. Here’s the breakdown of villas for rent in Al Tai:
- The prices for 3-bedroom rental villas in Al Tai averaged AED 103k in 2024.
- Spacious 4 and 5-bedroom villas for rent in Al Tai were listed at an average price of AED 144k and AED 151k, respectively.
Hoshi was the second most sought-after area to rent villas in Sharjah. Spacious standalone villas and being close to the Dubai-Sharjah border are the prominent reasons behind tenants’ interest in the area.
- The 3-bedroom villas in the area were available for an average of AED 130k.
- For 4-bedroom villas, tenants paid AED 139k on average in 2024, whereas the 5-bedroom homes were available for an average of AED 154k.
As per Bayut’s Sharjah Annual Market Report 2024, Al Rahmaniya also garnered interest from tenants looking to rent villas. This preference led to increases in average villa rents in the area.
- Tenants paid an average of AED 125k to rent 3-bed villas in Al Rahmaniya.
- The price for 4 and 5-bed rentals averaged AED 136k and AED 165k, respectively.
Other popular areas to rent villas in Sharjah include Muwaileh, Al Sabkha and Al Jazzat.
TOP OFF-PLAN PROJECTS IN SHARJAH 2024
AREA | PROJECT | PROPERTY TYPE |
|---|---|---|
AREA Tilal City | PROJECT Masaar | PROPERTY TYPE Villas |
AREA Barashi | PROJECT Hayyan | PROPERTY TYPE Villas |
AREA Sharjah Garden City | PROJECT Shoumous Residential Complex | PROPERTY TYPE Villas |
AREA Muwaileh | PROJECT Al Mamsha | PROPERTY TYPE Apartments |
AREA Al Khan | PROJECT Maryam Island | PROPERTY TYPE Apartments |
AREA Al Mamzar | PROJECT Faradis Tower | PROPERTY TYPE Apartments |
Investors seeking villas were primarily focused on the following off-plan projects in Sharjah:
- Masaar in Tilal City
- Hayyan in Barashi
- Shoumous Residential Complex in Sharjah Garden City
Developments offering off-plan apartments in Sharjah that attracted significant buyer interest included:
- Al Mamsha in Muwaileh
- Maryam Island in Al Khan
- Faradis Tower in Al Mamzar
This concludes our Sharjah Market Report for 2024. This statistical study indicates that the steadfastness of the real estate sector in the UAE’s culture capital remains an attractive factor for both tenants and investors. It also showcases that the Sharjah real estate market continued to thrive throughout 2024 and that dynamism was manifested by a general trend of increases across both the property sales and rental sectors.
Notably, the property markets in the other major emirates continued to flourish during 2024. Check out the Bayut Abu Dhabi Sales Market Report 2024 and the Dubai Sales Market Report 2024 for more insight.
Disclaimer: The above report (MKTRPTYE2024) is based on prices for ready properties advertised on Bayut.com by real estate agencies on behalf of their clients. These prices are not representative of actual real estate transactions conducted in Sharjah.
