Bayut & dubizzle’s Ajman annual market report for 2020: Decrease in rent and sales prices offer ideal conditions for investors and tenants

• Apartment Sales
• Apartment Rentals
• Villas for Rent and Sale
• Off-plan Projects

After revealing consumer interest for rental and sale properties in Dubai, Abu Dhabi and Sharjah, it’s now time for our Ajman Real Estate Market Report for 2020. This year has been a defining one for the UAE real estate sector, especially considering the various impacts of the coronavirus pandemic. Let’s see how prices have fared in the most popular neighbourhoods in Ajman during 2020.

To understand more about the growth of the property price index and consumer interests in Ajman, our annual market report compares the rental and sales prices in the emirate from Bayut & dubizzle to those from 2019.

To evaluate the performance of the top areas with properties for sale, we have analysed the average price per square foot for each unit type. The prices of rental properties in the smallest emirate have been calculated based on the average asking prices in popular areas.

According to our Ajman property market report, Emirates City, Al Nuaimiya, Al Rashidiya and Ajman Downtown have continued to be popular with investors and tenants in 2020. As for ROI, key areas like Emirates City, Ajman Downtown and Ajman Uptown have generated high yields up to 9.7%.

For a more comprehensive perspective, let’s take an in-depth look into our Ajman Real Estate Market Report for 2020.

Emirates City is the most popular area for apartments for sale in Ajman

Our analysis of search trends on Bayut & dubizzle has shown that investors and buyers have shown a great degree of interest towards Emirates City for apartment sales in 2020. A location next to Sheikh Zayed Road offers residents easy access to other emirates, which also explains its popularity in this regard. Compared to 2019, the price per square foot for apartments in the area has also decreased from AED 198 to AED 175.6. The 1-bed apartments for sale in Emirates City currently average at AED 159k, while the 2-bed flats for sale in Emirates City average at AED 216k.  Likewise, more spacious 3-bed flats for rent in Emirates City also have an affordable average starting price of AED 261k.

Located close to the Sharjah-Ajman border, Al Rashidiya has been the second most popular choice among buyers searching for flats for sale in Ajman. The 1-bed apartments for sale in Al Rashidiya has reduced from AED 409k to AED 305k in 2020. Similarly, the average price of 2-bed rental flats in Al Rashidiya has decreased from AED 537k to AED 403k. The price per square foot for apartments in this area have shown a slight decrease from AED 307.1 in 2019 to AED 267.1 in 2020.

Ajman Downtown, known for its excellent community and expat population, has been the third most searched for area to buy flats for sale in Ajman. Compared to the previous year, the community has also seen a reduction in the price per square foot for apartments —going from AED 234.7 in 2019 to AED 208.5 in 2020.

Additionally, Al Nuaimiya and Corniche Ajman have also garnered healthy interest from prospective buyers.

Paradise Lakes is the most popular with buyers for apartments in Emirates City

Buyers interested in purchasing apartments in Emirates City have shown the most interest in the Paradise Lakes’ sub-community. As per listings on Bayut, the apartments for sale in Paradise Lakes currently start at AED 130k.

According to our Ajman property market data, MR Tower, Goldcrest Dream Towers, Lilies Tower and Lake Tower have also drawn attention for apartment sales in Emirates City.

Emirates City and Ajman Downtown have the highest ROI for apartment sales in 2020

As per our Ajman market report, Emirates City has emerged as a sound option for investors in search of apartments with high rental yields. Based on projected rental yields, buyers can expect an average ROI of 9.7% for apartments for sale in Emirates City.

Ajman Downtown has come in a close second for favourable ROI, offering an impressive 9.5% for apartment sales. Garden City also displays interest from buyers with an ROI of 9.3%.

Additionally, Al Jurf with an ROI of 9.2% and Al Sawan with an ROI at 7.7% have also presented healthy options for property investors in the emirate.

Al Nuaimiya is the most popular area for renting apartments in Ajman

Al Nuaimiya has dominated the market for renting apartments in Ajman as per Bayut & dubizzle’s combined market report for 2020. The area’s location on the Ajman-Sharjah border makes it a consistently popular neighbourhood for tenants.

A comparison of rent trends in Al Nuaimiya from 2019 to 2020 shows that prices have decreased across the board. The average rent for studios dipped from AED 16k in 2019 to AED 15k in 2020. Tenants can also now expect to pay a more competitive average of AED 19k for 1-bed apartments for rent in Al Nuaimiya which were previously going for AED 21k in 2019. Prices for 2-bedroom flats for rent in Al Nuaimiya also decreased from AED 32k in 2019 to AED 29k in 2020.

Apart from Al Nuaimiya, other established areas like Al Rashidiya, Al Jurf and Emirates City have also piqued tenant interest due to their easy accessibility and affordable accommodations.

The apartments for rent in Al Rashidiya have experienced a decline in prices from 6% to 13% overall — averaging at AED 15k for studios, AED 20k for 1-bed and AED 28k per annum for 2-bedroom apartments. The average prices of the apartments for rent in Al Jurf have also decreased from 4% to a little under 7%.

Additionally, other areas like Ajman Downtown, Al Rawda and Al Mowaihat also feature among the top areas to rent apartments in Ajman, with all three areas experiencing minor to considerable drops in rent.

Al Nuaimiya 2 is most popular for renting apartments in Al Nuaimiya

As per Bayut & dubizzle’s property market analysis for 2020, Al Nuaimiya 2 tops the list of popular sub-communities for rental apartments in Al Nuaimiya. A residential area with mid-rise buildings, the flats for rent in Al Nuaimiya 2 are available in studio, 1 and 2-BHK configurations, with asking prices starting as low as AED 11k, as per current listings.

Potential tenants have also searched for flats in other popular sub-communities and buildings like Al Nuaimiya 1, Al Nuaimiya 3 and Al Nuaimiya Towers.

Most popular areas to buy and rent villas in Ajman

Located near the Sharjah and Ajman border, Al Mowaihat has continued to hold the interest of property investors looking for houses for sale in Ajman. The community lies close to Sheikh Zayed Road and is also within proximity to supermarkets, a community mall and clinics, making it convenient for residents to fulfil everyday needs. According to our data engineers, the average price to buy villas in Al Mowaihat ranges from AED 1M for 3-bedroom to AED 1.5M for 5-bed houses.

The second most popular area to buy a villa for sale in Ajman has been Al Yasmeen. Known for picturesque beaches and other family-friendly attractions and amenities, its popularity for villa purchases isn’t surprising. As per Bayut’s listings, you can buy a 3-bedroom villa in Al Yasmeen for a starting price of AED 866k. Investors who prefer larger properties may consider the 4-bed villas for sale in Al Yasmeen, which have an average starting price of AED 958k. Investors can also consider buying 5-bed villas in Al Yasmeen which average at AED 1M.

Al Rawda has also been a popular community for buyers, especially families, as it offers easy access to supermarkets and schools. The area’s proximity to major UAE highways also makes it beneficial for residents to travel to other emirates. The average price of the villas for sale in Al Rawda has ranged from AED 886 for 3-bed to AED 1.5M for 5-bed villas.

Ajman Uptown has the highest rental yields for villa sales in Ajman

Those interested in buying villas in Ajman will be satisfied to know that Ajman Uptown offered the best rental yields over 6.5% in 2020. Other notable neighbourhoods that have also offered satisfactory rental yields in the emirate include Al Yasmeen, Al Helio, Al Zahia, Al Rashidiya, Musherief and Al Mowaihat.

Al Rawda is the most popular option to rent villas In Ajman

In 2020, Al Rawda has remained steady as the most searched for area by potential tenants interested in the villas for rent in Ajman. As per our data, the asking prices for the villas for rent in Al Rawda average at AED 53k for 3-bed, AED 60k for 4-bed and AED 75k for 5-bed villas.

Another area that has garnered significant tenant interest is Al Mowaihat. The family-friendly community offers a comfortable lifestyle, offering a range of houses with different configurations. Renting villas in Al Mowaihat costs between AED 54k for 3-bedroom and AED 78k for 5-bedroom villas.

Al Nuaimiya ranks as the third most popular area for rental housing in the emirate. Our data shows that the villas for rent in Al Nuaimiya average between AED 53k for 3-bedroom and AED 49k for 5-bedroom villas.

Other communities popular for rental housing in Ajman in 2020 are Al Jurf, Musherief, Al Yasmeen and Ajman Uptown.

Top Off-plan projects in Ajman real estate

Off-plan projects in Ajman have also gained popularity over the course of the last five years. One of the most popular is Camellia in Ajman Uptown. This well-connected gated community is located along the Sheikh Zayed Road (E11) highway and offers a range of beautiful properties.

Another popular community for off-plan investments in Ajman is Al Amerah. This residential area’s off-plan development, Al Mazraa Tower, is a good option for apartment investments.

Commenting on the trends the CEO of Bayut and dubizzle and Head of EMPG, MENA said: 

“The UAE as a whole has been through an unprecedented year and Sharjah and Ajman have also not remained immune to the impact of the prevailing market conditions.

With the market being as price sensitive as it currently is, prospective tenants and buyers have shown a lot of interest towards the more competitively priced properties in these emirates.

While our overall traffic has exceeded 7 million sessions in a single month at the end of 2020, the traffic for properties in both Sharjah and Ajman has also been growing across the year on both Bayut & dubizzle by over 20%.”

That concludes our annual Ajman Real Estate Market Report. Interested in how other emirates fared in the 2020 UAE real estate market? It’s worth reading our analysis of the annual Dubai sales market report for a closer look at real estate transactions in the city. Alternatively, our Dubai rent market report for 2020 gives in-depth insight into the state of the emirate’s rental market.

Disclaimer: The above report is based on Ajman property prices advertised by real estate agencies on behalf of their clients on Bayut.com and dubizzle property (excluding room share), and not representative of actual real estate transactions conducted in Ajman.