Bayut’s Ajman Annual Market Report for 2023

• Buying Apartments
• Renting Apartments
• Villas for Rent and Sale
• Top Off-Plan Projects

Similar to the rest of the UAE, the Ajman real estate market witnessed significant growth during 2023. Our Ajman Annual Market Report for 2023 analyses sales and rent trends to provide detailed insights into how the emirate’s real estate market fared during the last year.

As per the data accumulated by Bayut during 2023:

• The sale prices-per-square-foot for apartments in popular districts have risen by up to 15.5%, whereas rental price trends generally remained stable across the board.

• The price trends for villas in Ajman have recorded a general uptick in popular areas. The most significant increase (18.4%) was seen in the price-per-square-foot for Ajman Downtown. Villa rentals in popular areas have also surged by up to 20%.

• Investors and tenants mostly gravitated towards family-friendly areas such as Ajman Downtown, Al Nuaimiya, Al Yasmeen and Al Rawda.

For this Ajman real estate market report, data analysts at Bayut have compared prices and search trends from 2023 to those recorded in 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 MARKET REPORT FOR 2023

The year 2023 saw increased demand for affordable properties in Ajman, leading to a consequent rise in prices.

AJMAN DOWNTOWN IS THE MOST POPULAR AREA TO BUY APARTMENTS IN AJMAN

As per the Ajman annual market report for 2023, Ajman Downtown was the most sought-after district for buying flats:

• The average price-per-square-foot for apartments for sale in Ajman Downtown increased by 3.28% to average at AED 203.

• Investors paid AED 208k on average to buy 1-bed flats in Ajman Downtown. The respective average sales price recorded for 2 and 3-bed units was AED 296k and AED 397k.

Al Nuaimiya also emerged as a popular choice among investors in search of flats for sale in Ajman:

• The price-per-square-foot for apartments in Al Nuaimiya dropped by 0.64% to average at AED 367.

• Investors interested in purchasing 1-bed flats in Al Nuaimiya paid an average of AED 310k. The average financial outlay for 2 apartments stood at AED 463k, higher than the AED 406k payable for 3-bed flats, indicating higher demand for the smaller units.

As per the data for property prices in Ajman, other sought-after areas for the sale of apartments included:

• Emirates City
• Al Rashidiya
• Al Sawan
• Corniche Ajman
• Garden City
• Al Bustan
• Al Ameera Village
• Sheikh Maktoum Bin Rashid Street

These areas have reported a general uptick in average price-per-square-foot. The most significant increase was recorded in Al Rashidiya, where prices surged by up to 15.5%.

AJMAN ANNUAL MARKET REPORT FOR 2023: ROI FOR GARDEN CITY RANKED THE HIGHEST

When it comes to return on investments, the following areas emerged as the most profitable options:

• The projected ROI for Garden City averaged at 9.69%.
• Emirates City offered average rental yields of 9.67%.
• Ajman Downtown registered an ROI of more than 9.30%.

Apartments for Sale in Ajman

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AED 861,000

• 1 BED
• |
• 2 BATHS
• |
• 1075 SQFT

Ajman Creek Towers, Ajman Free Zone, Ajman, UAE

AED 860,000

• 1 BED
• |
• 2 BATHS
• |
• 1186 SQFT

Ajman Creek Towers, Ajman Free Zone, Ajman, UAE

AED 675,000

• 2 BEDS
• |
• 3 BATHS
• |
• 1599 SQFT

Oasis Towers, Al Rashidiya 1, Al Rashidiya, Ajman, UAE

AED 853,000

• 2 BEDS
• |
• 3 BATHS
• |
• 1734 SQFT

Gulfa Towers, Al Rashidiya 1, Al Rashidiya, Ajman, UAE

AED 310,000

• 1 BED
• |
• 2 BATHS
• |
• 904 SQFT

Al Rashidiya 1, Al Rashidiya, Ajman, UAE

AED 600,000

• 2 BEDS
• |
• 3 BATHS
• |
• 1455 SQFT

Ajman One Towers, Al Rashidiya 3, Al Rashidiya, Ajman, UAE

AED 521,000

• 1 BED
• |
• 2 BATHS
• |
• 1173 SQFT

BlueBell Residence, Al Amerah, Ajman, UAE

AED 498,500

• 1 BED
• |
• 2 BATHS
• |
• 1110 SQFT

City Tower, Al Nuaimiya 3, Al Nuaimiya, Ajman, UAE

AED 750,000

• 3 BEDS
• |
• 5 BATHS
• |
• 2181 SQFT

Ajman One Towers, Al Rashidiya 3, Al Rashidiya, Ajman, UAE

AED 290,000

• 1 BED
• |
• 2 BATHS
• |
• 939 SQFT

Al Rashidiya 1, Al Rashidiya, Ajman, UAE

AL NUAIMIYA IS THE MOST POPULAR AREA TO RENT APARTMENTS IN AJMAN DOWNTOWN

Data analysed for the Ajman real estate market report showed that Al Nuaimiya was the most searched-for area for apartment rentals in Ajman:

• No change was observed in the average asking prices of the flats for rent in Al Nuamiya compared to 2022.

• Tenants paid around AED 14k for studios. For 1 and 2-bed flats, the average rents were recorded at AED 19k and AED 28k, respectively.

Al Rashidiya was another area that garnered attention for apartment rentals as per the Ajman real estate market report:

• No price change was reported for studios in Al Rashidiya. The price for 1-bed flats increased by 5.30%, whereas 2-bed units reported a 3.13% drop in rental costs.

• Those in search of flats to rent in Al Rashidiya paid AED 14k for studios. To rent 1 and 2-bed apartments, the financial outlay averaged at AED 20k and AED 28k, respectively.

During the year, prospective tenants also showed keen interest in the flats for rent in these areas:

• Ajman Downtown
• Al Rawda
• Al Jurf
• Corniche Ajman
• Emirates City
• Al Sawan
• Al Mowaihat
• Garden City

Rental costs in most of these areas remained unchanged, although some areas like Garden City, Al Rawda and Al Sawan reported rent increases of up to 10% for certain bed types.

Apartments for Rent in Ajman

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AED 23,000 Yearly

• 1 BED
• |
• 1 BATH
• |
• 619 SQFT

Mandarin Towers, Garden City, Ajman, UAE

AED 64,000 Yearly

• 4 BEDS
• |
• 5 BATHS
• |
• 1849 SQFT

Al Rawda 3, Al Rawda, Ajman, UAE

AED 36,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 1158 SQFT

Ajman One Tower 11, Ajman One Towers, Al Rashidiya 3, Al Rashidiya, Ajman, UAE

AED 28,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 939 SQFT

Ajman Pearl Towers, Ajman Downtown, Ajman, UAE

AED 28,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 749 SQFT

City Tower, Al Nuaimiya 3, Al Nuaimiya, Ajman, UAE

AED 24,000 Yearly

• 1 BED
• |
• 1 BATH
• |
• 829 SQFT

Paradise Lakes B6, Paradise Lakes, Emirates City, Ajman, UAE

AED 38,000 Yearly

• 2 BEDS
• |
• 2 BATHS
• |
• 1203 SQFT

Gulf Tower Ajman, Emirates City, Ajman, UAE

AED 36,000 Yearly

• 2 BEDS
• |
• 2 BATHS
• |
• 1599 SQFT

Al Rawda 1, Al Rawda, Ajman, UAE

AED 32,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 1199 SQFT

Al Jurf Industrial 3, Al Jurf Industrial Area, Al Jurf, Ajman, UAE

AED 45,000 Yearly

• 3 BEDS
• |
• 4 BATHS
• |
• 2007 SQFT

Falcon A1, Falcon Towers, Al Rashidiya 2, Al Rashidiya, Ajman, UAE

THE MOST POPULAR AREAS TO BUY AND RENT VILLAS IN AJMAN

Analysis for the Ajman annual market report showed that Al Yasmeen garnered the most interest from investors looking to purchase villas in Ajman:

• The average sales price for 3 and 4-bed villas stood at AED 1.16M and AED 1.25M, respectively.

• To buy 5-bed villas in Al Yasmeen, the average required investment was around AED 1.34M.

Another area that garnered considerable investor attention for villa sales was Al Zahya:

• The 3-bed villas for sale in Al Zahya averaged at AED 1.04M. Sales prices increased to a respective AED 1.06M and AED 1.26M for 4 and 5-bed villas.

Buyers were also interested in villa investments in these areas:

• Al Rawda
• Al Mowaihat
• Al Helio
• Al Alia
• Al Zorah
• Ajman Uptown
• Al Amerah
• Al Nuaimiya

Villas for Sale in Ajman

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AED 1,140,000

• 5 BEDS
• |
• 7 BATHS
• |
• 2998 SQFT

Al Zahya, Ajman, UAE

AED 1,580,000

• 5 BEDS
• |
• 6 BATHS
• |
• 3012 SQFT

Al Ameera Village, Al Yasmeen, Ajman, UAE

AED 1,550,000

• 5 BEDS
• |
• 7 BATHS
• |
• 3298 SQFT

Al Ameera Village A4, Al Ameera Village, Al Yasmeen, Ajman, UAE

AED 1,750,000

• 6 BEDS
• |
• 8 BATHS
• |
• 3012 SQFT

Al Ameera Village A3, Al Ameera Village, Al Yasmeen, Ajman, UAE

AED 1,450,000

• 5 BEDS
• |
• 7 BATHS
• |
• 3198 SQFT

Al Ameera Village A1, Al Ameera Village, Al Yasmeen, Ajman, UAE

AED 1,450,000

• 4 BEDS
• |
• 6 BATHS
• |
• 3448 SQFT

Al Ameera Village A1, Al Ameera Village, Al Yasmeen, Ajman, UAE

AED 1,530,000

• 4 BEDS
• |
• 6 BATHS
• |
• 3012 SQFT

Al Ameera Village, Al Yasmeen, Ajman, UAE

AED 1,200,000

• 5 BEDS
• |
• 7 BATHS
• |
• 2599 SQFT

Al Zahya, Ajman, UAE

AED 2,000,000

• 5 BEDS
• |
• 7 BATHS
• |
• 3898 SQFT

Al Helio 2, Al Helio, Ajman, UAE

AED 1,600,000

• 5 BEDS
• |
• 6 BATHS
• |
• 3012 SQFT

Al Helio 2, Al Helio, Ajman, UAE

AL ZORAH OFFERS THE HIGHEST ROI ON VILLAS IN AJMAN

Statistical analysis for the Ajman annual market report for 2023 highlighted the following areas offering the highest returns for villa sales in Ajman:

• Buy-to-let villas in Al Zorah offered an impressive ROI of 7.57%.
• Al Amerah, with projected rental yields of 6.68%, also emerged as a lucrative option.
• Al Zahya followed closely behind with a 6.53% projected ROI.

AL RAWDA IS IN THE LEAD FOR VILLAS FOR RENT IN AJMAN

Al Rawda attracted the most attention from those looking to rent villas in Ajman in 2023:

• The financial outlay averaged at AED 57k to rent 3-bed villas in Al Rawda. It increased to AED 72k and AED 85k for 4 and 5-bed villas, respectively.

A majority of tenants also considered Al Mowaihat for villa rentals in Ajman:

• To rent 3 and 4-bedroom apartments, the average financial outlay was AED 62k and AED 78k, respectively. For 5-bed villas, the average rental cost stood at AED 88k.

As per trends analysed for the Ajman annual real estate market report, other popular areas to rent villas in Ajman included:

• Al Yasmeen
• Al Zahya
• Al Hamidiyah
• Musherief
• Al Nuaimiya
• Al Jurf
• Al Helio
• Al Alia

Villas for Rent in Ajman

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AED 110,000 Yearly

• 5 BEDS
• |
• 6 BATHS
• |
• 3198 SQFT

Al Ameera Village A3, Al Ameera Village, Al Yasmeen, Ajman, UAE

AED 70,000 Yearly

• 3 BEDS
• |
• 4 BATHS
• |
• 7997 SQFT

Al Jurf 1, Al Jurf, Ajman, UAE

AED 95,000 Yearly

• 3 BEDS
• |
• 5 BATHS
• |
• 3012 SQFT

Al Ameera Village A1, Al Ameera Village, Al Yasmeen, Ajman, UAE

AED 90,000 Yearly

• 5 BEDS
• |
• 7 BATHS
• |
• 3012 SQFT

Al Zahya, Ajman, UAE

AED 70,000 Yearly

• 4 BEDS
• |
• 6 BATHS
• |
• 1899 SQFT

Al Zahya, Ajman, UAE

AED 160,000 Yearly

• 5 BEDS
• |
• 7 BATHS
• |
• 4998 SQFT

Al Mowaihat 3, Al Mowaihat, Ajman, UAE

AED 110,000 Yearly

• 4 BEDS
• |
• 5 BATHS
• |
• 3012 SQFT

Smart Tower 1, Al Amerah, Ajman, UAE

AED 85,000 Yearly

• 4 BEDS
• |
• 5 BATHS
• |
• 2798 SQFT

Al Ameera Village, Al Yasmeen, Ajman, UAE

AED 90,000 Yearly

• 5 BEDS
• |
• 7 BATHS
• |
• 3198 SQFT

Al Alia, Ajman, UAE

AED 120,000 Yearly

• 5 BEDS
• |
• 8 BATHS
• |
• 4998 SQFT

Al Mowaihat 3, Al Mowaihat, Ajman, UAE

AJMAN ANNUAL MARKET REPORT 2023: OFF-PLAN PROJECTS

Considerable interest was observed for off-plan projects in Ajman in 2023.

Azha Community in Al Amerah was popular with investors considering off-plan apartments. As for villas, Beach Village in Al Zorah attracted significant interest. The off-plan villas in Camellia, Ajman Uptown also garnered considerable buyer interest.

That concludes our Ajman Annual Market Report for 2023. For those keen on investing in the emirate’s property market, now might be the perfect time to do so.

Looking for other options? The Bayut Dubai annual sales market report has all the details for those interested in the emirate’s property sales market.

Disclaimer: The above report (MKTRPTYE2023) is based on prices advertised by real estate agencies on behalf of their clients on Bayut and does not represent actual real estate transactions conducted in Ajman.