Bayut’s annual Sharjah market report for 2022

• Buying Apartments
• Renting Apartments
• Buying and Renting Villas
• Sharjah Off-Plan Projects

With 2022 in the record books, it’s time to see how the property market in the UAE’s cultural capital fared during the last year with Bayut’s Sharjah real estate market report 2022.

A look at the annual Sharjah market report for 2022 reveals an increase in apartment sales prices, whilst rents for bigger homes remained competitive in the popular neighbourhoods of the emirate.

• The average sale price-per-square-foot for apartments generally decreased by up to 3.68%.
• Rental costs for flats in Sharjah’s sought-after districts remained largely stable.
• Sales prices for villas increased by up to 12.6% in popular communities, while rental villas became more affordable by up to 8.13%.

For the Sharjah annual market report for 2022, our data analysts have compared property rent and sale price trends observed in 2021 to those in 2022.

Sharjah Annual Market Report: Buying apartments in 2022

POPULAR AREAS	ROI	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021	1-BED APTS	2-BED APTS	3-BED APTS
Al Khan	ROI 3.95%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 676 -1.39%	1-BED APTS 522,000	2-BED APTS 754,000	3-BED APTS 1,121,000
Al Majaz	ROI 6.09%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 387 7.33%	1-BED APTS 344,000	2-BED APTS 559,000	3-BED APTS 860,000
Al Nahda	ROI 6.23%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 368 -3.34%	1-BED APTS 359,000	2-BED APTS 469,000	3-BED APTS 788,000
Muwaileh	ROI 2.71%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 867 6.11%	1-BED APTS 604,000	2-BED APTS 1,080,000	3-BED APTS 1,459,000
Al Taawun	ROI 6.16%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 360 -3.68%	1-BED APTS 351,000	2-BED APTS 497,000	3-BED APTS 933,000

Al Khan is the most popular area to buy flats in Sharjah

Al Khan continues to garner the most interest for apartment sales as per Bayut’s annual Sharjah market report for 2022. The area’s waterfront location and the availability of mid to high-rise apartments contributes to consistent high demand:

• The average price-per-square-foot for properties in the neighbourhood decreased by 1.39%, to stand at AED 676.

• The flats for sale in Al Khan reported average sale prices of AED 522k for 1-bed, AED 754k for 2-bed and AED 1.1M for 3-bed units during 2022.

Al Majaz also emerged as a popular choice for those looking to buy an apartment in Sharjah, according to Bayut’s annual Sharjah property market report for 2022:

• The average average sale price-per-square-foot for apartments in Al Majaz saw an increase of 7.33%, to stand at AED 387.

• In 2022, the sales price to purchase flats in the area averaged at AED 344k for 1-bed, AED 559k for 2-bed and AED 860k for 3-bed apartments.

Al Nahda, ranked third for buyers interested in buying flats in Sharjah according to the data gathered for the Bayut Sharjah report 2022. The area’s location near the Dubai-Sharjah border contributes to its overall popularity:

• The price-per-square-foot for properties in Al Nahda experienced a slight decrease of 3.34% to average at AED 368 in 2022.

• The flats for sale in Al Majaz were priced at an average of AED 359k for 1-bed, AED 469k for 2-bed and AED 788k for 3-bed apartments during 2022.

As per our yearly Sharjah market report for 2022, prospective buyers and investors also showed interest in Muwaileh and Al Taawun for buying apartments in the emirate.

Al Nahda has the highest ROI for apartment sales in Sharjah

According to apartment sales trends observed for Bayut’s Sharjah annual real estate market report 2022, the following areas yielded the highest ROI in the emirate:

• Al Nahda offered the highest rental yield of 6.23% for buy-to-let flats.

• ROI for apartment in Al Taawun followed with average rental yields of 6.16%.

• Al Majaz posted average projected rental yields of 6.09%.

Price trends in Sharjah for rental apartments 2022

POPULAR AREAS	STUDIOS Avg. Yearly RentChange from 2021	1-BED APT Avg. Yearly RentChange from 2021	2-BED APT Avg. Yearly RentChange from 2021
Muwaileh	STUDIOS Avg. Yearly RentChange from 2021 12,000 0.00%	1-BED APT Avg. Yearly RentChange from 2021 20,000 3.81%	2-BED APT Avg. Yearly RentChange from 2021 29,000 -3.35%
Al Nahda	STUDIOS Avg. Yearly RentChange from 2021 16,000 0.00%	1-BED APT Avg. Yearly RentChange from 2021 22,000 -2.29%	2-BED APT Avg. Yearly RentChange from 2021 30,000 0.00%
Al Majaz	STUDIOS Avg. Yearly RentChange from 2021 16,000 0.00%	1-BED APT Avg. Yearly RentChange from 2021 24,000 0.00%	2-BED APT Avg. Yearly RentChange from 2021 34,000 3.02%
Al Taawun	STUDIOS Avg. Yearly RentChange from 2021 18,000 6.78%	1-BED APT Avg. Yearly RentChange from 2021 24,000 4.01%	2-BED APT Avg. Yearly RentChange from 2021 32,000 0.00%
Al Khan	STUDIOS Avg. Yearly RentChange from 2021 22,000 2.10%	1-BED APT Avg. Yearly RentChange from 2021 26,000 -9.27%	2-BED APT Avg. Yearly RentChange from 2021 38,000 1.72%
Muwailih Commercial	STUDIOS Avg. Yearly RentChange from 2021 13,000 0.00%	1-BED APT Avg. Yearly RentChange from 2021 22,000 0.00%	2-BED APT Avg. Yearly RentChange from 2021 34,000 0.00%
Al Qasimia	STUDIOS Avg. Yearly RentChange from 2021 14,000 -4.14%	1-BED APT Avg. Yearly RentChange from 2021 19,000 0.00%	2-BED APT Avg. Yearly RentChange from 2021 24,000 -5.63%
Abu Shagara	STUDIOS Avg. Yearly RentChange from 2021 14,000  N/A	1-BED APT Avg. Yearly RentChange from 2021 19,000 0.00%	2-BED APT Avg. Yearly RentChange from 2021 24,000 -5.56%
Al Mamzar	STUDIOS Avg. Yearly RentChange from 2021 23,000  N/A	1-BED APT Avg. Yearly RentChange from 2021 32,000 2.34%	2-BED APT Avg. Yearly RentChange from 2021 52,000 7.24%
Bu Tina	STUDIOS Avg. Yearly RentChange from 2021 10,000 0.00%	1-BED APT Avg. Yearly RentChange from 2021 16,000 -5.37%	2-BED APT Avg. Yearly RentChange from 2021 21,000 0.00%
Not available due to low/no historical inventory or influx of off-plan properties

Sharjah rental market report for 2022: Muwaileh is the most popular for rental flats

Based on our Sharjah market report for 2022, potential tenants were most keen on rental apartments in Muwaileh:

• The cost of rental studios has remained stable. The price for 1-bed flats increased by 3.81%, while the 2-bed units became more affordable by 3.35%.

• The cost to rent flats in Muwaileh averaged AED 12k for studios, AED 20k for 1-bed and AED 29k for 2-bed apartments.

The second most popular area to rent apartments in Sharjah during 2022 was Al Nahda:

• The rental costs for studios and 2-bed flats remained stable in the area, whereas 1-bed flats witnessed a decrease in price by 2.29%.

• To rent flats in Al Nahda, tenants paid an average of AED 16k for studios, AED 22k for 1-bedroom and AED 30k for 2-bed apartments.

Those interested in renting flats in Sharjah also showed interest in Al Majaz:

• Rental prices in the area remained stable for studios and 1-bed units. However, the cost for larger 2-bed flats increased by 3.02%.

• During 2022, tenants paid an average of AED 16k for studios, AED 24k for 1-bed and AED 34k for 2-bed apartments for rent in Al Majaz.

Other sought-after communities to rent apartments in Sharjah included:

• Al Taawun
• Al Khan
• Muwaileh Commercial
• Al Qasimia
• Abu Shagara
• Al Mamzar
• Bu Tina

As per rental trends in Sharjah during 2022, costs have remained relatively competitive in most areas. The highest increase was recorded at 7.24% for 2-bed flats in Al Mamzar.

Bayut Sharjah market report for 2022: Popular areas to rent and buy villas in Sharjah

BUYING VILLAS	RENTING VILLAS
BUYING VILLAS Hoshi	RENTING VILLAS Barashi
BUYING VILLAS Muwaileh	RENTING VILLAS Al Jazzat
BUYING VILLAS Al Tai	RENTING VILLAS Sharqan
BUYING VILLAS Sharqan	RENTING VILLAS Al Tai
BUYING VILLAS Al Ghafia	RENTING VILLAS Hoshi
BUYING VILLAS Al Gharayen	RENTING VILLAS Al Rifah
BUYING VILLAS Al Qadisiya	RENTING VILLAS Muwaileh
BUYING VILLAS Al Goaz	RENTING VILLAS Al Falaj
BUYING VILLAS Al Yash	RENTING VILLAS Al Sabkha
BUYING VILLAS Al Jazzat	RENTING VILLAS Al Ghafia

Hoshi is the most popular area for villa sales in Sharjah

Hoshi remained the most-searched-for area for villa sales as per the Bayut Sharjah market report for 2022. Apart from its close proximity to the Dubai-Sharjah border, a peaceful environment also contributes to its popularity among buyers. Here is a general overview of price trends for buying villas in Hoshi during 2022:

• The 3-bed villas for sale in Hoshi averaged at AED 2.25M, up from AED 1.9M in 2021.

• Average costs were recorded at AED 2.4M for 4-bed and AED 3.35M for 5-bedroom villas in Hoshi.

Muwaileh also emerged as a sought-after option for buying villas in the emirate. A range of positive factors, such as its location near the country’s main highways, helps it maintain its popularity among investors. Here is a closer look at average sales costs for villas for sale in Muwaileh in 2022:

• Investors have paid an average of AED 1.96M for 3-bed villas in Muwaileh, Sharjah during 2022.

• The price to purchase 4 and 5-bedroom villas in the area averaged at AED 3.15M and AED 4.92M, respectively.

Al Tai is another community that has attracted searches from potential buyers looking for villas in Sharjah in 2022. The well-established suburb has convenient facilities like supermarkets and parks, which made it a favourite among investors. Here is a look at the average costs for villa sales in Al Tai:

• The 3-bed villas for sale in Al Tai averaged at AED 1.3M.

• The more spacious 4 and 5-bed villas for purchase in the area averaged at AED 2.26M and AED 3.29M, respectively.

Other areas that managed to attract investor interest for villas in Sharjah during 2022 include Sharqan, Al Ghafia, Al Gharayen, Al Qadisiya, Al Goaz, Al Yash and Al Jazzat.

Al Qadisiya has the highest rental yields for villas in Sharjah

Buy-to-let villas in the following areas yielded the highest projected ROIs in Sharjah during 2022:

• Al Qadisya averaged at 6.84%
• Al Jazzat averaged at 5.66%
• Al Ghafia averaged at 5.39%

Barashi is the most popular for villa rentals in Sharjah for 2022

The Bayut Sharjah market report for 2022 shows that Barashi has been the most popular district for prospective tenants in Sharjah:

• The 3-bedroom villas for rent in Barashi averaged at AED 85k.

• Those looking to rent 4 and 5-bed rental villas in the area had to pay an average of AED 89k and AED 141k, respectively.

Al Jazzat ranked second in popularity for renting villas in Sharjah during 2022. Perks of living here include its proximity to neighbouring Ajman and a range of useful facilities:

• Investors paid an average of AED 53k to rent 3-bed villas in Al Jazzat in 2022.

• The price for 4 and 5-bed units averaged at a respective AED 80k and AED 100k.

The villas available for rent in Sharqan were also appealing to prospective tenants in 2022. The area lies close to the Arabian Gulf and offers homes with modern facilities:

• The average cost for 3-bed villas for rent in Sharqan averaged at AED 87k.

• The rental cost for 4 and 5-BHK houses averaged at AED 101k and AED 111k, respectively.

Apart from these areas, districts that garnered tenant interest for villa rentals in Sharjah included Al Tai, Hoshi, Al Rifah, Muwaileh, Al Falaj, Al Sabhka and Al Ghafia.

Top Off-Plan projects in Sharjah 2022

AREA	PROJECT	PROPERTY TYPE
Muwaileh	PROJECT Al Zahia	PROPERTY TYPE Villas
Al Tai	PROJECT Masaar	PROPERTY TYPE Villas
Sharjah Garden City	PROJECT Shoumous Residential Complex	PROPERTY TYPE Villas
Aljada	PROJECT Nasaq	PROPERTY TYPE Apartments
Al Khan	PROJECT Maryam Island	PROPERTY TYPE Apartments
Muwaileh	PROJECT Al Mamsha	PROPERTY TYPE Apartments

During 2022, potential investors searching for off-plan projects in Sharjah were most interested in developments in Muwaileh, Al Tai and Sharjah Garden City:

• According to our Sharjah market report for 2022, Al Zahia in Muwaileh was the most popular off-plan villa development in Sharjah.

• Buyers interested in off-plan apartments mostly gravitated towards Nasaq in Aljada.

That brings an end to the Bayut Sharjah market report for 2022. As is evident in this statistical study, the stability of the real estate industry in the third-largest emirate continues to draw tenants and investors.

Additionally, property markets in major emirates continued to thrive in 2022. Check out the Bayut Abu Dhabi sales market report for 2022 and the Dubai sales market report for 2022 for more details.

Disclaimer: The above report (MKTT RPT YE 2022) 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.