Bayut’s Ajman Annual Market Report for 2024

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

With 2025 in full swing, it’s the prime time to review how the Ajman real estate market fared in 2024. Impressive affordability and rental yields across apartment and villa segments have positioned the smallest northern emirate as an increasingly attractive destination for real estate investment. Bayut’s Ajman Market Report for 2024 reveals the popular areas for renting, buying and off-plan investments in the emirate.

This Ajman Real Estate Market Report compares property prices and search trends observed in 2024 with those recorded in 2023.

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.

AT A GLANCE: AJMAN PROPERTY MARKET 2024

• Popular districts witnessed substantial per-square-foot appreciation in apartment sale prices, ranging from 6% to an impressive 48%, mainly attributed to inventory increases and high demand for properties.

• The rental market demonstrated comparatively moderate yet positive growth, with price escalations for apartments recorded between 7% and 54% across favoured locations.

• The villa segment also showed strong momentum in 2024, backed by inventory influx and increased property demand. Sales prices for houses in sought-after areas of Ajman recorded a general upward trajectory, witnessing 7% to 65% hikes in average price-per-square-foot.

• The rental market for villas in prime locations experienced significant growth, increasing up to 50% in popular neighbourhoods.

• Family-centric communities continued to dominate market interest. Key areas attracting investors and tenants included Al Rashidiya, Al Nuaimiya, Al Yasmeen and Al Zahya.

This Ajman Real Estate Market Report compares property prices and search trends observed in 2024 with those recorded in 2023.

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 2024

Ajman’s real estate market is on an impressive growth trajectory, contributing significantly to the UAE’s booming property sector. Ajman recorded AED 2.28 billion in real estate transactions in December alone, marking a 102% year-on-year increase. The emirate’s prime location, budget-friendly property options and robust infrastructure are elevating its profile, positioning it as an attractive and profitable market for both local and international buyers.

AL RASHIDIYA DOMINATED AS THE MOST POPULAR AREA TO BUY APARTMENTS IN AJMAN

POPULAR AREAS	ROI	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023	1-BED	2-BED	3-BED
Al Rashidiya	ROI 6.53 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 416 17.9%	1-BED 208,000	2-BED 296,000	3-BED 397,000
Ajman Downtown	ROI 9.37 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 259 23.7%	1-BED 310,000	2-BED 463,000	3-BED 406,000
Emirates City	ROI 7.00 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 379 N/A	1-BED 171,000	2-BED 241,000	3-BED 304,000
Al Nuaimiya	ROI 6.43 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 408 8.28%	1-BED 225,000	2-BED 497,000	3-BED 445,000
Corniche Ajman	ROI 6.19 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 463 6.52%	1-BED 340,000	2-BED 593,000	3-BED 837,000
Al Yasmeen	ROI 6.04 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 508 24.2%	1-BED 626,000	2-BED 862,000	3-BED 1,475,000
Garden City	ROI 9.98 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 312 27.1%	1-BED 154,000	2-BED 215,000	3-BED N/A
Al Bustan	ROI 5.39 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 457 -2.06%	1-BED 498,000	2-BED 662,000	3-BED 1,168,000
Sheikh Maktoum Bin Rashid Street	ROI 6.20 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 429 -1.49%	1-BED 344,000	2-BED 559,000	3-BED N/A
Al Amerah	ROI 6.29 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 437 47.6%	1-BED N/A	2-BED 736,000	3-BED 970,000

As per the Ajman Annual Property Market Report for 2024, Al Rashidiya was the most sought-after district for buying flats in the northern emirate:

• Apartments for sale in Al Rashidiya recorded an average price-per-square-foot of AED 416, a 17.9% increase from 2023.

• Investors paid AED 208k on average to buy 1-bed flats in Al Rashidiya. The average sales price for 2 and 3-bed units was reported as AED 296k and AED 397k, respectively.

Ajman Downtown ranked as the second most popular destination among buyers interested in flats for sale in Ajman:

• The data highlights a 23.7% increase in the average price-per-square-foot for apartments for sale in Ajman Downtown.

• On average, investors interested in purchasing 1-bed flats in Ajman Downtown paid AED 310k.

• The average financial outlay for 2-bed apartments stood at AED 463k, while 3-bed flats for sale were available for AED 406k.

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

• Emirates City
• Al Nuaimiya
• Corniche Ajman
• Al Yasmeen
• Garden City
• Al Bustan
• Sheikh Maktoum Bin Rashid Street
• Al Amerah

As stated above, sales trends in Ajman revealed a general increase in the average price-per-square-foot for apartments, with Al Amerah experiencing the most significant growth of 48%, fueled by heightened demand.

AJMAN ANNUAL MARKET REPORT FOR 2024: ROI FOR GARDEN CITY RANKED THE HIGHEST

Ajman’s real estate market has demonstrated lucrative returns across key locations, offering attractive opportunities for investors. Bayut’s comprehensive analysis reveals standout performers in terms of Return on Investment (ROI) in the apartment category:

• Emerging as the frontrunner, Garden City showcased an impressive projected ROI of 9.98%.

• Solidifying its position as a prime investment destination, Ajman Downtown recorded a noteworthy ROI exceeding 9.37%.

• While offering a more moderate yet stable return, Emirates City presented investors with average rental yields of 7%.

AL NUAIMIYA ENJOYED THE HIGHEST DEMAND FOR RENTAL APARTMENTS IN AJMAN

POPULAR AREAS	STUDIO Avg. Yearly RentChange from 2023	1-BED Avg. Yearly RentChange from 2023	2-BED Avg. Yearly RentChange from 2023
Al Nuaimiya	STUDIO Avg. Yearly RentChange from 2023 18,000 25.3%	1-BED Avg. Yearly RentChange from 2023 26,000 34.5%	2-BED Avg. Yearly RentChange from 2023 37,000 29.2%
Al Rashidiya	STUDIO Avg. Yearly RentChange from 2023 17,000 10.9%	1-BED Avg. Yearly RentChange from 2023 28,000 29.8%	2-BED Avg. Yearly RentChange from 2023 41,000 28.4%
Al Jurf	STUDIO Avg. Yearly RentChange from 2023 17,000 22.3%	1-BED Avg. Yearly RentChange from 2023 28,000 34.1%	2-BED Avg. Yearly RentChange from 2023 38,000 28.8%
Al Rawda	STUDIO Avg. Yearly RentChange from 2023 17,000 29.4%	1-BED Avg. Yearly RentChange from 2023 27,000 37.7%	2-BED Avg. Yearly RentChange from 2023 37,000 32.0%
Ajman Downtown	STUDIO Avg. Yearly RentChange from 2023 19,000 30.2%	1-BED Avg. Yearly RentChange from 2023 26,000 30.3%	2-BED Avg. Yearly RentChange from 2023 36,000 28.1%
Emirates City	STUDIO Avg. Yearly RentChange from 2023 N/A  N/A	1-BED Avg. Yearly RentChange from 2023 25,000 49.7%	2-BED Avg. Yearly RentChange from 2023 34,000 52.6%
Al Mowaihat	STUDIO Avg. Yearly RentChange from 2023 18,000 26.0%	1-BED Avg. Yearly RentChange from 2023 29,000 47.6%	2-BED Avg. Yearly RentChange from 2023 43,000 35.7%
Corniche Ajman	STUDIO Avg. Yearly RentChange from 2023 16,000 7.12%	1-BED Avg. Yearly RentChange from 2023 28,000 -3.13%	2-BED Avg. Yearly RentChange from 2023 50,000 2.01%
Al Hamidiyah	STUDIO Avg. Yearly RentChange from 2023 16,000 29.7%	1-BED Avg. Yearly RentChange from 2023 27,000 45.5%	2-BED Avg. Yearly RentChange from 2023 40,000 53.7%
Al Bustan	STUDIO Avg. Yearly RentChange from 2023 15,000 2.12%	1-BED Avg. Yearly RentChange from 2023 25,000 30.6%	2-BED Avg. Yearly RentChange from 2023 35,000 8.59%
Not available due to low/no historical inventory or influx of off-plan properties

Data for the 2024 Ajman Annual Property Market Report showed that Al Nuaimiya maintained its status as the preferred area for rental apartments in Ajman:

• Increases of 25% to 35% were observed in the average prices for rental apartments in Al Nuaimiya compared to 2023.

• Tenants paid around AED 18k for studios. For 1 and 2-bed flats, the average rents were recorded at AED 26k and AED 37k, respectively.

Mirroring the sales trends, Al Rashidiya garnered a lot of attention for apartment rentals as well, as per the Ajman Property Market Report 2024:

• Overall, rents for apartments in Al Rashidiya observed a surge of between 11% and 30% for different bed types. Rents for studios increased by 10.9%. The 1-bed flats witnessed a hike of 29.8%, while 2-bed rental apartments saw a 28.4% increase in the average prices.

• According to Bayut’s data, tenants paid an average of AED 17k to rent studio apartments in Al Rashidiya.
• Rents for 1 and 2-bed apartments in the neighbourhood stood at AED 28k and AED 41k, respectively.

During the past year, prospective tenants searching for rental apartments in Ajman also showed keen interest in these areas:

• Al Jurf
• Al Rawda
• Ajman Downtown
• Emirates City
• Al Mowaihat
• Corniche Ajman
• Al Hamidiyah
• Al Bustan

Although average apartment rents went up for almost all the areas reported above, one-bedroom units in Corniche Ajman were an exception, experiencing a 3.13% decline in prices.

LEADING AREAS TO BUY AND RENT VILLAS IN AJMAN

BUYING VILLAS	RENTING VILLAS
BUYING VILLAS Al Yasmeen	RENTING VILLAS Al Yasmeen
BUYING VILLAS Al Zahya	RENTING VILLAS Al Zahya
BUYING VILLAS Al Helio	RENTING VILLAS Al Rawda
BUYING VILLAS Al Rawda	RENTING VILLAS Al Mowaihat
BUYING VILLAS Al Mowaihat	RENTING VILLAS Al Helio
BUYING VILLAS Al Bahia	RENTING VILLAS Al Hamidiyah
BUYING VILLAS Al Alia	RENTING VILLAS Musherief
BUYING VILLAS Ajman Uptown	RENTING VILLAS Al Nuaimiya
BUYING VILLAS Al Zorah	RENTING VILLAS Al Jurf
BUYING VILLAS Al Amerah	RENTING VILLAS Al Raqaib

Data for Bayut’s Ajman Annual Property Market Report 2024 confirmed Al Yasmeen as the top choice for investors seeking villas in Ajman:

• On average, 3-bedroom villas sold for AED 1.29M, while 4-bedroom villas sold for AED 1.44M in Al Yasmeen.

• To buy 5-bed villas in Al Yasmeen, the average required investment was around AED 1.50M.

Investors and potential homeowners also showed considerable interest in Al Zahya to buy villas in Ajman:

• The 3-bed villas for sale in Al Zahya averaged at AED 1.18M. Sales prices increased to AED 1.25M and AED 1.42M for 4 and 5-bed villas.

Additional areas that attracted interest within the real estate market included:

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

AL AMERAH OFFERS THE HIGHEST ROI ON VILLAS IN AJMAN

Statistical analysis for the Ajman Real Estate Market Report highlighted the following areas offering the strongest returns for villa sales in Ajman:

• Al Amerah, with projected rental yields of 6.84%, emerged as the most lucrative option.
• With an impressive ROI of 6.81%, Al Zorah was neck and neck with Al Amerah.
• Al Yasmeen followed closely behind with a projected 6.69% ROI.

AL RAWDA IS THE TOP CONTENDER FOR VILLAS FOR RENT IN AJMAN

Al Yasmeen remained the most popular area to rent villas in Ajman, with 25% to 30% appreciation recorded across the board:

• Prices for renting 3-bedroom villas in Al Yasmeen averaged at AED 89k. They increased to AED 97k and AED 109k for 4-bed and 5-bed villas, respectively.

Following Al Yasmeen, Al Zahya was identified as a preferred destination for renting homes within the Ajman property market. The rent increase for Al Zahya villas was lower, with 5-bed houses recording a 16.8% jump.

• The rent for 3-bedroom villas was AED 80k annually, while the average annual rent for 4 and 5-bedroom houses was AED 84k and AED 101k, respectively.

As per trends analysed for the Ajman Annual Real Estate Market Report, other popular areas to rent villas in Ajman for 2024 included:

• Al Rawda
• Al Mowaihat
• Al Helio
• Al Hamidiyah
• Musherief
• Al Nuaimiya
• Al Jurf
• Al Raqaib

AJMAN ANNUAL PROPERTY MARKET REPORT 2024: OFF-PLAN PROJECTS

Considerable interest was observed for off-plan projects in Ajman during 2024.

Investor interest in off-plan apartments was particularly strong for BlueBell Residences within Al Amerah. Ajman Creek Towers in Ajman Free Zone and Garden Residences in Emirate City were also strong contenders for off-plan apartments for sale in the emirate.

Buyers and investors chose Al Ameera Village in Al Yasmeen, Azha Community in Al Amerah and District 9 in Al Zorah for off-plan Ajman villa projects.

That concludes our Ajman Annual Market Report for 2024. The general trends prevailing throughout Ajman’s real estate market point towards exciting times ahead for the emirate. Investor and tenant interest in Ajman real estate is undeniably growing. Stick with MyBayut for more updates on Ajman property market trends throughout 2025.

To gain deeper insights into the UAE’s thriving real estate market, explore Bayut’s Dubai Sales Market Report for 2024 and 2024 Abu Dhabi Sales Market Report by Bayut. These reports offer detailed information on market trends in the emirate’s most popular areas.

Disclaimer: The above report (MKTRPTYE2024) 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.