Bayut & dubizzle’s Sharjah Annual Market Report for 2021 – property prices continue to favour tenants and buyers
As we welcome the new year, it’s time to review the performance of the Sharjah real estate market in 2021. For Bayut and dubizzle’s Sharjah real estate market report for 2021, we have compared the property prices for 2021 with those observed in 2020.
Our combined data has shown that consumer interest in the Sharjah property market in 2021 has been consistent for prominent areas like Al Khan, Aljada and Al Majaz. This is thanks to an array of family-friendly amenities and easy connectivity. Additionally, Al Majaz and Al Taawun have also taken the lead in terms of healthy rental yields with projected ROIs exceeding 5.4%.
As per property trends observed in 2021 on Bayut & dubizzle, rental prices have reduced across the board in Sharjah. There has also been considerable interest observed for off-plan developments in areas such as Al Tai, Aljada and Muwaileh.
For an accurate representation of the top areas with properties for sale, our annual report compares the average price-per-square-foot for an area. For rental properties, the prices have been compared with the average asking rents in each neighbourhood.
Properties for sale in Sharjah: Buying apartments in 2021
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- 1899 SQFT
According to the Bayut & dubizzle Sharjah real estate market report for 2021, Al Khan has emerged as the most popular area to buy apartments in 2021. Al Majaz, Aljada, Al Nahda and Al Taawun have also garnered the attention of those keen on purchasing flats in the emirate.
Al Khan is the most popular area for buying apartments in Sharjah
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020 | 1-BED | 2-BED | 3-BED |
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| Al Khan | ROI 3.64% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
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| Al Majaz | ROI 6.33% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
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| Aljada | ROI 2.51% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
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| Al Nahda | ROI 5.40% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
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| Al Taawun | ROI 5.49% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2020
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The apartments for sale in Al Khan have been the top choice for buyers in Sharjah in 2021. The area offers a convenient waterfront lifestyle with the added advantage of short commutes to Dubai. Averaging at AED 815.72, the price-per-square-foot of flats in Al Khan has experienced a noticeable increase of almost 23.5%, mainly driven by the influx of upscale apartments on Maryam Island.
The average price of 1-bed apartments for sale in Al Khan has remained attractive at AED 528k, while 2-bed flats have averaged at AED 797k. On the other hand, the more spacious 3-bed flats for sale in Al Khan have averaged at AED 1.2M.
Al Majaz has been the second most searched for option among buyers looking at apartments for sale according to the Bayut and dubizzle Sharjah real estate market report for 2021. The waterfront area predictably attracts several local and international investors due to its proximity to Khalid Lagoon. The price-per-square-foot in Al Majaz has seen a moderate increase of just under 1.5% in 2021.
The 1-bed flats in the area have become more affordable, going from AED 360k in 2020 to AED 334k in 2021. The price for 2-bed apartments for sale in Al Majaz has also seen a slight uptick from AED 547k to AED 559k. Buyers interested in 3-bedroom flats for sale in Al Majaz have paid AED 792k on average for these units.
The next most searched area for apartment sales in Sharjah in 2021 has been Aljada — due to benefits like direct connectivity to Sheikh Mohammed Bin Zayed Road (E311) and easy access to neighbouring towns. The average price-per-square-foot for apartment sales in Aljada has experienced an increase of 11.87%, going from AED 815.26 in 2020 to AED 912.09 in 2021. The average price of 1 and 2-bed apartments in the area remained relatively stable, at AED 487k and AED 827k respectively. However, the average cost of 3-bed apartments for sale in Aljada increased from AED 1.36M to AED 1.44M in 2021, mainly due to the delivery of several new, upscale units.
Aside from the usual favourites, prospective buyers in Sharjah have also shown an inclination for apartments in Al Nahda and Al Taawun — with the average price-per-square-foot in these areas remaining competitive at AED 403.65 and AED 405, respectively.
Beach Towers is the most popular for apartments sales in Al Khan, Sharjah
Beach Towers has emerged as the most sought-after building with apartments for sale in Al Khan. The prices for flats for sale in Beach Towers start at AED 390k as advertised on Bayut. Other complexes like Palm Tower 1 and Asas Tower have also garnered a healthy amount of interest from buyers as well as investors in Al Khan.
Al Majaz offers good ROI for apartments in Sharjah
Based on the data collected for our Sharjah real estate market report for 2021, the integrated Al Majaz waterfront community has offered the best rental yield among the popular areas in the UAE’s cultural capital. Based on expected rental yields for apartment sales in Sharjah, the community has offered a projected ROI of 6.33%.
Other areas like Al Taawun, Al Nahda have also offered healthy ROIs of 5.49% and 5.40% respectively.
Sharjah real estate market report for 2021: Property prices in Sharjah to rent flats
POPULAR AREAS | STUDIOS Avg. Yearly RentChange from 2020 | 1 BED APTS Avg. Yearly RentChange from 2020 | 2 BED APTS Avg. Yearly RentChange from 2020 |
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| Al Nahda | STUDIOS Avg. Yearly RentChange from 2020
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| Al Majaz | STUDIOS Avg. Yearly RentChange from 2020
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| 2 BED APTS Avg. Yearly RentChange from 2020
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| Al Taawun | STUDIOS Avg. Yearly RentChange from 2020
| 1 BED APTS Avg. Yearly RentChange from 2020
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| Muwaileh | STUDIOS Avg. Yearly RentChange from 2020
| 1 BED APTS Avg. Yearly RentChange from 2020
| 2 BED APTS Avg. Yearly RentChange from 2020
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| Muwailih Commercial | STUDIOS Avg. Yearly RentChange from 2020
| 1 BED APTS Avg. Yearly RentChange from 2020
| 2 BED APTS Avg. Yearly RentChange from 2020
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| Al Khan | STUDIOS Avg. Yearly RentChange from 2020
| 1 BED APTS Avg. Yearly RentChange from 2020
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| Al Qasimia | STUDIOS Avg. Yearly RentChange from 2020
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| Abu Shagara | STUDIOS Avg. Yearly RentChange from 2020
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| Aljada | STUDIOS Avg. Yearly RentChange from 2020
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| Bu Tina | STUDIOS Avg. Yearly RentChange from 2020
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Al Nahda is the top area to rent apartments in Sharjah
Al Nahda has been the top choice for prospective tenants in terms of rental flats in Sharjah in 2021. An ideal location on the Dubai-Sharjah border has made this community a preferred choice for regular commuters between the two emirates. The area has shown a decline of up to 9.6% in the price of rental studios, 1-bed and 2-bed apartments.
The average annual price of studios for rent in Al Nahda has decreased marginally from AED 17k in 2020 to AED 16k in 2021. The 1-bed rental flats in Al Nahda have averaged at AED 21k after a significant 9.6% decline, whereas the 2-bedroom apartments for rent in Al Nahda have averaged at AED 28k per annum, following an 8.3% decrease compared to 2020.
Tenants in search of rental flats in Sharjah have also shown an inclination towards the family-friendly area of Al Majaz. Compared to 2020, the average price to rent studios in Al Majaz has dropped by just over 2.8%, to AED 16k. The cost to rent 1-bed apartments in Al Majaz has remained fairly stable at AED 24k, while the available 2-bed flats for rent in Al Majaz have recorded a negligible 0.82% decrease in yearly rental costs, to average at AED 33k.
Based on the search trends observed on Bayut & dubizzle for the Sharjah real estate market report, Al Taawun has ranked third in popularity for renting flats in Sharjah in 2021. The bustling area is popular with tenants owing to its picturesque location along Al Mamzar Lake and Khalid Lagoon. Adding to its appeal for families are the several supermarkets and schools in the area and the competitive pricing from landlords.
The rent for studios in Al Taawun has remained unchanged at AED 17k. On the other hand, the average rent of 1-bed apartments in Al Taawun has become more affordable at AED 23k, following a decline of 9.2%. Likewise, the average rent of 2-bed apartments in Al Taawun has shown a 5.9% decrease to stand at AED 32k, down from AED 34k in 2020.
Aside from these areas, Muwaileh, Muwailih Commercial, Al Khan, Al Qasimia and Abu Shagara have also attracted tenants searching for apartments in Sharjah. Out of these areas, only the rental costs in Al Khan have experienced significant increases of up to 26%, largely driven by an increase in the availability of higher-priced, upscale rental units in Maryam Island.
Sahara Towers is the most popular with tenants for apartments for rent in Al Nahda, Sharjah
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- 849 SQFT
Those who have searched for apartment rentals in Al Nahda have been most keen on the available units in Sahara Towers. The residential high-rise is a six-building complex that offers a host of luxurious perks like spacious accommodations, an expansive swimming pool and gym facilities. As per the current listings on Bayut, flats for rent in Sahara Towers have a starting price of AED 29.7k.
Based on the data collected for our Sharjah real estate market report for 2021, other buildings in Al Nahda that have attracted tenant interest include Al Nahda Towers, Al Yarmook, Al Rayyan Complex and Al Zain Tower.
Sharjah real estate market report for 2021: Top areas to buy and rent villas in Sharjah
BUYING VILLAS | RENTING VILLAS |
|---|---|
BUYING VILLAS Al Tai | RENTING VILLAS Al Tai |
BUYING VILLAS Hoshi | RENTING VILLAS Al Jazzat |
BUYING VILLAS Muwaileh | RENTING VILLAS Al Sabkha |
BUYING VILLAS Al Rahmaniya | RENTING VILLAS Barashi |
BUYING VILLAS Al Noaf | RENTING VILLAS Sharqan |
BUYING VILLAS Al Gharayen | RENTING VILLAS Al Hazannah |
BUYING VILLAS Sharqan | RENTING VILLAS Al Ghafia |
BUYING VILLAS Al Qadisiya | RENTING VILLAS Al Nasserya |
BUYING VILLAS Al Ghafia | RENTING VILLAS Al Qadisiya |
BUYING VILLAS Al Azra | RENTING VILLAS Al Yash |
Al Tai is the most popular community for villa sales in Sharjah in 2021
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- 3498 SQFT
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- 4003 SQFT
Al Tai has been the most searched for area for villa sales in Sharjah. The neighbourhood offers buyers a prime location between two major roadways, Sharjah Kalba Road (E102) and Emirates Road (E611).
In 2021, the average cost of 3-bed villas for sale in Al Tai has averaged at AED 1.35M. The average cost of 4-bed villas for sale in Al Tai has been AED 2.17M, while the cost to buy 5-bed villas in Al Tai has averaged at AED 3.12M.
Hoshi is another area that has consistently remained desirable for villa sales during 2021. The average price to buy 3-bedroom villas in Hoshi has stayed attractive at AED 1.73M while investors looking for larger homes have paid an average of AED 3.22M to buy 5-bedroom villas in Hoshi.
Sharjah real estate market report for 2021 also reveals that Muwaileh has been the third-most desirable community for buyers interested in houses for sale in Sharjah. A location on the emirate’s outskirts close to Dubai appeals to investors wanting to take advantage of tenant interest in the close proximity between the two emirates.
The prices for 3-bedroom villas for sale in Muwaileh have averaged at AED 1.56M. Investors interested in larger houses have spent an average of AED 2M for buying 4-bed villas in Muwaileh.
Other areas that have appealed to those interested in buying villas in Sharjah during 2021 include Al Rahmaniya, Al Noaf, Al Gharayen, Sharqan and Al Qadisiya.
Muwaileh has the highest ROI for villa sales in Sharjah
According to the data collected for our Sharjah real estate market report for 2021, villa properties in Muwaileh have offered the best projected rental yields in the popular areas in the emirate, with an impressive ROI of 5.61%. The second-highest ROI for villas for sale in Sharjah has been recorded in Al Ghafia, where the rental returns average at 5.26%. Villas in Al Noaf have also offered favourable rental yields of 4.77% to investors.
Al Tai is the most popular area to rent villas in Sharjah in 2021
Al Tai has taken the lead when it comes to the most searched for areas for villa rentals in Sharjah. To rent 3-bed villas in Al Tai, the average annual cost has been competitive at AED 77k. The 4-bed villas for rent in Al Tai, suitable for bigger families have averaged at AED 108k per annum. Tenants looking for 5-bed villas for rent in Al Tai have paid annual rents averaging at AED 123k.
Al Jazzat, with a suburban location that lies close to the Ajman-Sharjah border, is another area that has attracted tenant interest for home rentals.
Compared to 2020, the average price of 3-bed rental villas in the Al Jazzat has shown stability at AED 59k. Meanwhile, the average cost to rent 4-bed villas in Al Jazzat has been AED 84k. Interestingly, the expansive 5-bed villas for rent in Al Jazzat, are only marginally more expensive, averaging at AED 85k.
Our Sharjah real estate market report for 2021 also reveals that the well-connected suburb of Al Sabkha has been the third most searched for area for tenants interested in villa rentals in Sharjah. Aside from convenient access to Ajman, the community is home to reputable schools and clinics. Prices for 3-bed villas for rent in Al Sabhka have averaged at AED 42k.
Other communities that have seen a healthy demand for villas from tenants in 2021 include Barashi, Sharqan, Al Hazannah, Al Ghafia and Al Nasserya.
Top off-plan projects in Sharjah
AREA | PROJECT | PROPERTY TYPE |
|---|---|---|
AREA Al Tai | PROJECT Masaar | PROPERTY TYPE Villas, Townhouses |
AREA Aljada | PROJECT Naseej District | PROPERTY TYPE Apartments |
AREA Muwaileh | PROJECT Al Zahia | PROPERTY TYPE Villas, Apartments, Townhouses |
Sharjah’s off-plan market has been a major draw for investors. Based on the data collected for Sharjah real estate market report for 2021, the Masaar project in Al Tai has been the leading off-plan project in terms of popularity. Once completed, the community will offer a healthy lifestyle with a range of sporting facilities and amenities. Current off-plan developments in the area are expected to be handed over in 2022 and 2023.
The second-most popular off-plan project in Sharjah has been the Naseej District in Aljada which lies close to Dubai. Construction of new projects in the district is expected to begin in the first half of 2022. Aside from a host of desirable amenities, the district also promises a truly immersive and cultural atmosphere upon completion.
With a location on the edge of Sharjah, Muwaileh is home to another highly anticipated off-plan development in the emirate — Al Zahia. Several projects in Al Zahia are currently under construction, with completion expected in 2023.
Other popular off-plan developments in the emirate include Maryam Island in Al Khan and Ajmal Makan in Sharjah Waterfront City.
That concludes our Sharjah real estate market report for 2021. Those looking to track property trends across other emirates will find unrivalled statistical analysis in both our Dubai annual property sales report for 2021 and the accompanying Bayut & dubizzle’s 2021 Dubai annual rental market report.
Disclaimer: The above report is based on Sharjah property prices advertised by real estate agencies on behalf of their clients on Bayut and dubizzle property (excluding room share) and is not representative of actual real estate transactions conducted in Sharjah.
