Bayut and dubizzle’s Sharjah Real Estate Market Report H1 2022
As the first half of 2022 comes to a close, we bring you the Bayut and dubizzle Sharjah real estate market report for H1 2022. This in-depth report details how asking prices have fared in the emirate during the last six months.
One of the major takeaways from the Bayut and dubizzle Sharjah real estate market report H1 2022 is that prices for properties in Sharjah have generally decreased in both the sales and rental segments of the market. Sales prices in the most popular neighbourhoods of Sharjah have decreased by up to 4%. On the rental front, prices for properties have declined by up to 13% for certain units, while remaining relatively unchanged for others.
However, these competitive prices have led to increased demand in the market. Over the last six months, Sharjah has attracted significant local and international investment. According to data released by the Sharjah Real Estate Registration Department (SRERD), 747 property sales transactions worth AED 1.9B were recorded in the month of June alone. Of those, 358 were mortgage transactions valued at AED 764M.
For more insight, let’s take a comprehensive look at Bayut & dubizzle’s Sharjah real estate market report.
For greater holistic insight, our data experts have compared sales and rental trends in Sharjah during H1 2022 to those in H2 2021.
Prices for buying apartments – Bayut and dubizzle H1 2022 Sharjah Real Estate Market Report
As per the Bayut and dubizzle Sharjah real estate market report 2022, Al Khan has emerged as the most popular area to purchase flats in Sharjah. Prospective buyers have also shown considerable interest in Al Majaz, Al Nahda, Al Taawun and Muwaileh.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021 | 1 BED | 2 BED | 3 BED |
|---|---|---|---|---|---|
| Al Khan | ROI 2.62% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1 BED
| 2 BED
| 3 BED
|
| Al Majaz | ROI 5.99% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1 BED
| 2 BED
| 3 BED
|
| Al Nahda | ROI 5.57% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1 BED
| 2 BED
| 3 BED
|
| Al Taawun | ROI 4.11% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1 BED
| 2 BED
| 3 BED
|
| Muwaileh | ROI 2.72% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2021
| 1 BED
| 2 BED
| 3 BED
|
Real estate trends in Sharjah for H1 2022: Al Khan is the most searched-for area for buying apartments
Buyers in Sharjah have searched for apartments for sale in Al Khan during H1 2022. A conveniently brief commute to Dubai and its seafront location make it a suitable choice for many. The price-per-square-foot of flats in Al Khan has experienced a moderate dip of 3.33% — going from AED 824 in H1 2021 to AED 796 in H2 2022.
The cost of 1-bed flats for sale in Al Khan has averaged AED 527k in the first six months of 2022, whereas the price for 2-bed units stood at AED 795k. Meanwhile, the asking cost of the more spacious 3-bedroom flats for sale in Al Khan has been recorded at an average of AED 1.18M.
Known for its location next to the beautiful Khalid Lagoon, Al Majaz has been another popular community for apartment sales in the cultural capital. The bustling district’s consistent popularity with investors is partly due to the availability of outdoor activities and several family-friendly amenities. The average price-per-square-foot for apartments in Al Majaz increased by 4.7% to average at AED 384.
The average price of 1-bed apartments for sale in Al Majaz has stood at AED 345k. The larger 2-bed flats for sale in Al Majaz have averaged at AED 562k, whereas investors have paid AED 863k, on average to buy 3-bed flats in Al Majaz.
Those considering investing in real estate in Sharjah in 2022 have also shown interest in apartments in Al Nahda. The price-per-square-foot to buy apartments in Al Nahda has slightly decreased from AED 393 in H2 2021 to AED 381 during the first half of 2022.
The 1-bedroom flats for sale in Al Nahda have averaged at AED 384k. The more spacious 2 and 3-bed apartments for sale in the area have recorded average prices of AED 496k and AED 802k, respectively, during H1 2022.
Aside from the aforementioned areas, buyers have also shown a keen interest in apartment sales in Al Taawun. The average sales price-per-square-foot for properties in the area has increased by 48.08% to an average of AED 528 in H1 2022. This increase can be attributed to the properties in Al Taawun Street, Tiger 2 Building and Manazil Tower 5 being listed at higher price points.
- 2 BEDS
- |
- 2 BATHS
- |
- 999 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 739 SQFT
Al Majaz offers the highest yield for apartments in Sharjah
Based on projected yields, trends in the Sharjah real estate market show that Al Majaz has reported the highest rental returns for H1 2022 — averaging at 5.99%. Buyers have also profited from an impressive 5.57% ROI in Al Nahda in the first half of 2022.
Please note: All returns on investment are calculated based on the projected rental yields in an area. These numbers may differ based on property type, size, location, sub-community and available amenities in the project.
Sharjah real estate market report H1 2022: Real estate prices in Sharjah to rent apartments
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 Nahda | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Muwaileh | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Majaz | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Taawun | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Muwailih Commercial | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Qasimia | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Khan | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Abu Shagara | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Bu Tina | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Mamzar | 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 | |||
Al Nahda is the most searched-for area to rent flats in Sharjah
Al Nahda has continued to be the top choice for tenants looking at renting apartments in Sharjah. Affordable rents, an array of family-friendly amenities, schools and close proximity to Dubai give Al Nahda an edge over other areas.
In H1 2022, the rental costs in Al Nahda have stayed competitive compared to H2 2021. The annual price of rental studios in Al Nahda has shown a moderate uptick of 3.66% to average at AED 16k per annum. On the other hand, the price has dipped by 5.83% to rent 1-bed apartments in Al Nahda, which now average at AED 20k per annum. The annual cost to rent 2-bedroom flats in Al Nahda have also become more affordable by 5.13%, averaging at AED 27k.
Muwaileh is another area that has appealed to tenants in search of apartments in Sharjah. The cost to rent studios in Muwaileh has remained steady at AED 12k. Prices for 1-bed apartments for rent in the area have also remained unchanged, averaging at AED 20k. The price to rent 2-bed flats in Muwaileh, however, has decreased by 5.20% to stand at AED 30k on average.
Al Majaz has also attracted significant tenant attention. The average asking rents for studios and 1-bed apartments in the area have remained stable at AED 16k and AED 24k, respectively. Compared to H2 2021, the cost to rent 2-bed apartments in Al Majaz has dipped slightly by 0.22%, to average at AED 33k per annum.
Aside from these areas, tenants have also shown interest in districts like Al Taawun, Muwaileh Commercial, Al Qasimia and Al Khan to rent apartments in Sharjah.
- STUDIO
- |
- 1 BATH
- |
- 599 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 849 SQFT
- STUDIO
- |
- 1 BATH
- |
- 429 SQFT
- 1 BED
- |
- 1 BATH
- |
- 917 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 999 SQFT
Sharjah real estate market report H1 2022: Top areas for buying and renting villas
BUYING VILLAS | RENTING VILLAS |
|---|---|
BUYING VILLAS Hoshi | RENTING VILLAS Al Tai |
BUYING VILLAS Muwaileh | RENTING VILLAS Al Jazzat |
BUYING VILLAS Al Tai | RENTING VILLAS Barashi |
BUYING VILLAS Al Gharayen | RENTING VILLAS Sharqan |
BUYING VILLAS Al Rahmaniya | RENTING VILLAS Al Rifah |
BUYING VILLAS Al Ghafia | RENTING VILLAS Muwaileh |
BUYING VILLAS Al Goaz | RENTING VILLAS Al Sabkha |
BUYING VILLAS Sharqan | RENTING VILLAS Al Ghafia |
BUYING VILLAS Al Yash | RENTING VILLAS Al Nekhailat |
BUYING VILLAS Al Rifah | RENTING VILLAS Hoshi |
Hoshi is the most popular community for villa sales in Sharjah
When buying villas in Sharjah, buyers have shown a clear inclination towards Hoshi in H1 2022. The area is an attractive prospect for those who want to live in Sharjah and commute regularly to Dubai. The prices of 3-bed villas for sale in Hoshi have averaged at AED 1.54M. Meanwhile, the 4-bed villas in the area have been priced at AED 2M on average. The cost to buy 5-bedroom villas for sale in Hoshi has averaged AED 3.31M.
Muwaileh ranked second in terms of villa sales in Sharjah as per the Bayut and dubizzle Sharjah real estate market report H1 2022. When it comes to buying villas in Muwaileh, the location being close to the country’s main highways has been a primary selling point for investors. The average cost to purchase 3-bed villas in Muwaileh has stood at AED 1.51M. The costs to buy larger 4 and 5-bed houses in the area have averaged at AED 2M and AED 3.18M, respectively.
Al Tai has also emerged as a popular option for villa sales in Sharjah, during H1 2022. The average price to buy 3-bed villas in Al Tai has stood at AED 1.28M. For 4-bedroom villas, buyers have paid an average of AED 2M, while 5-bed villas have averaged AED 3.27M.
Other communities that have attracted interest for villa sales in Sharjah include Al Gharayen, Al Rahmaniya, Al Ghafia, Al Goaz, Sharqan, Al Yash and Al Rifah.
Muwaileh has the highest ROI for villa sales in Sharjah
According to Bayut and dubizzle’s half-yearly data, Muwaileh and Al Goaz have offered the highest ROI for villa sales in H1 2022, averaging at a healthy 6.51% and 5.80%, respectively. Following close behind are Al Rifah at 5.05% and Al Ghafia at 5.02%.
Al Tai is the most popular area for villa rentals in Sharjah
Combined data by Bayut and dubizzle shows that Al Tai has been the most-searched-for area when it comes to renting villas in Sharjah during H1 2022. The costs to rent 3-bed villas in Al Tai have averaged at AED 81k, Whereas asking rents for 4 and 5-bed villas in the area have averaged at AED 108k and AED 119k, respectively.
Al Jazzat has also managed to attract tenant interest for villas in Sharjah, during the first six months of 2022. The asking rents for 3-bed villas in Al Jazzat averaged at AED 51k. When it comes to 4 and 5-bed villas, the rental costs have stood at AED 75k and AED 107k, on average.
The rental villas in Barashi have appealed to prospective tenants in Sharjah during H1 2022. The average cost to rent villas in Barashi has ranged from AED 85k for 4-bed to AED 145k for 5-bed villas.
Apart from the areas already mentioned, other popular districts for the rent of villas in Sharjah include Sharqan, Al Rifah, Muwaileh and Al Sabhka.
Top off-plan projects in Sharjah
AREA | PROJECT | PROPERTY TYPE |
|---|---|---|
AREA Muwaileh | PROJECT Al Zahia | PROPERTY TYPE Villas, Apartments and Townhouses |
AREA Aljada | PROJECT Nest Student Accommodation | PROPERTY TYPE Apartments |
AREA Sharjah Waterfront City | PROJECT Ajmal Makan | PROPERTY TYPE Villas and Apartments |
Sharjah real estate also includes a thriving off-plan market with options that appeal to investors. The most popular off-plan project in H1 2022 has been Al Zahia in Muwaileh. The master community offers apartments, townhouses and villas located on the outskirts of Sharjah. Some projects in the area have been handed over, while others are still under construction.
The upcoming Nest Student Accommodation in Aljada has been the second most popular off-plan development in Sharjah. The apartment project is in development, but once complete it will boast a myriad of perks like shared lounges, an amphitheatre, a library and numerous F&B outlets.
Another off-plan project that has been making waves with investors is Ajmal Makan in Sharjah Waterfront City. The mixed-use development features beautiful islands with state-of-the-art apartments and villas.
That concludes the Bayut & dubizzle Sharjah real estate market report H1 2022. As is apparent throughout the statistical study, real estate prices in the emirate have remained relatively stable. Healthy demand for properties has ensured the market continues to thrive.
Other property markets in the United Arab Emirates have also shown improvement during the first half of 2022. Be sure to read up on Bayut and dubizzle’s H1 2022 sales report for Dubai and the Abu Dhabi rental report for H1 2022 for more in-depth insights.
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 Sharjah.
