Bayut & dubizzle’s Sharjah real estate market report Q3 2021: prices continue to be favourable for buyers and tenants
With the end of the third quarter of 2021, it is time to look at how Sharjah’s property market has fared during the last three months.
Real estate trends in Sharjah have shown healthy signs of growth, similar to those observed in Dubai and Abu Dhabi. Market prices for rent and sale in popular neighbourhoods have appreciated by up to 17%.
Tenants looking for apartments in Sharjah have continued to prefer well-established neighbourhoods like Al Nahda and Muwaileh. Those in search of rental villas have shown mixed interest in suburban and centrally-located areas such as Al Tai and Al Sabkha in Q3 2021.
Investors on the other hand have preferred waterfront districts such as Al Khan and Al Majaz for apartments in Sharjah. During Q3 2021, buyer interest for villas is mainly concentrated towards suburban communities like Hoshi and Al Noaf, located close to Dubai.
For a more insightful presentation of property prices, the Bayut & dubizzle Sharjah Market Report Q3 2021 has compared the average rent and sale prices for villas and apartments from the third quarter to those observed in Q2 2021.
For an accurate representation of properties for sale, our Q3 2021 market report compares the average sales price-per-square-foot for an area. Please note that these prices are subject to change based on multiple factors including amenities available, the developer involved in the project, location and other key details.
Sharjah property market report Q3 2021: Property prices for buying apartments
According to trends observed for the Sharjah Q3 report 2021, the areas of Al Khan, Al Majaz and Al Nahda have continued to attract investors and homebuyers. All three neighbourhoods are popular for urban amenities and provide easy access to nearby attractions. Their proximity to Dubai also makes them attractive options for residents who regularly commute between the two emirates.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021 | 1-BED APTS | 2-BED APTS | 3-BED APTS |
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| Al Khan | ROI 3.93% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Al Majaz | ROI 6.33% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Al Nahda | ROI 5.37% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Al Taawun | ROI 6.47% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Muwaileh | ROI 2.78% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Not available due to low/no historical inventory or influx of off-plan properties | |||||
Al Khan is the most popular area for buying apartments
As per Bayut & dubizzle’s analysis of real estate prices in Q3 2021, Al Khan has been the top choice for investors keen on buying flats in Sharjah. The area’s popularity is a result of a rise in interest in waterfront homes and the influx of new properties in the area.
The price-per-square-foot for apartments in Al Khan has increased by 1.6% to average at AED 830.13 in Q3 2021. The average price to buy 1-bed flats in Al Khan has remained attractive at AED 535k, whereas the 2-bed units have averaged at AED 806k. The more spacious 3-bedroom apartments for sale in Al Khan have averaged at AED 1.23M.
Located next to the picturesque Khalid Lagoon, Al Majaz has maintained its popularity among investors for apartment sales in Q3 2021. The abundance of amenities and good rental yields have made it a good investment option alongside the attractive price-per-square-foot that has experienced a dip of 2.13%, averaging at AED 416.04 in Q3 2021.
The price for 1-bed units has become more reasonable, standing at AED 335k during the third quarter of 2021. When it comes to bigger units, prices for 2-bed apartments for sale in Al Majaz have averaged at AED 522k, while investors have paid AED 833k, on average, to purchase 3-bed flats in Al Majaz.
Prospective buyers looking for more options have also considered apartments in Al Nahda. Our data shows that the price-per-square-foot for Al Nahda apartments has slightly decreased from AED 344.66 to AED 340.27. The average cost to buy 1-bed apartments in Al Nahda has been AED 464k in Q3 2021. The more expansive 2 and 3-bed flats have averaged at respective prices of AED 500k and AED 898k.
Besides the usual favourites, potential buyers have also shown an inclination for apartments in Al Taawun and Muwaileh. The Q3 2021 property trends in Sharjah have shown that the sales price-per-square-foot for apartment sales in both areas have remained largely stable.
- 1 BED
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- 2 BATHS
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- 700 SQFT
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- 1 BATH
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- 321 SQFT
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- 789 SQFT
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- 2 BATHS
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- 789 SQFT
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- 2 BATHS
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- 1899 SQFT
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- 2 BATHS
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- 999 SQFT
Al Taawun offers the highest ROI for apartment sales in Sharjah
Real estate trends observed in the Bayut & dubizzle’s market report reveal that Al Taawun has offered the highest ROI in Sharjah for Q3 2021 -averaging at 6.47% based on projected rental yields. Investors have also benefitted from the projected rental returns of 6.33% earned by apartments in Al Majaz in the third quarter of 2021.
Real estate prices in Sharjah for rental flats in Q3 2021
Bayut and dubizzle’s combined property market report has shown that the areas of Al Nahda, Muwaileh and Al Majaz have continued to be of prime interest for tenants in search of apartments in Sharjah.
POPULAR AREAS | STUDIOS Avg. Yearly RentChange from Q2 2021 | 1-BED APTS Avg. Yearly RentChange from Q2 2021 | 2-BED APTS Avg. Yearly RentChange from Q2 2021 |
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| Al Nahda | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Muwaileh | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Al Majaz | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Al Taawun | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Muwailih Commercial | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Al Khan | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Al Qasimia | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Abu Shagara | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Al Mamzar | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Bu Tina | STUDIOS Avg. Yearly RentChange from Q2 2021
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| Not available due to low/no historical inventory or influx of off-plan properties | |||
Bayut & dubizzle Sharjah Q3 market report 2021: Al Nahda is the top area to rent flats
The neighbourhood of Al Nahda has been the most preferred area for tenants in search of apartment rentals in Sharjah in Q3 2021. Competitive rents and a strategic location at the Dubai-Sharjah border make Al Nahda an appealing prospect for potential renters.
The trends observed in Bayut & dubizzle’s Sharjah Market Report have shown that rental prices for apartments in Al Nahda have become more affordable by up to 5%. The average rent for studios in Al Nahda has been an affordable AED 15k per annum in Q3 2021. The 1-bed units for rent averaged at AED 22k, whereas the more spacious 2-bed flats for rent in Al Nahda have been priced at AED 28k, on average.
Muwaileh has also emerged as a popular choice for tenants interested in rental apartments in Sharjah in Q3 of 2021.
The average rent of studios in Muwaileh has remained unchanged at AED 12k. Meanwhile, the rents for larger units have experienced increases of under 9%. 1-bed rental flats in Muwaileh have slightly increased to stand at AED 20k in Q3 2021. The cost of 2-bed apartments for rent in Muwaileh have risen from AED 31k in Q2 2021 to AED 34k in Q3 2021.
Al Majaz has also been a tenant favourite for rental apartments in Sharjah. A vast array of waterfront properties and a location across the Buhaira Corniche have made the bustling district an attractive option for prospective tenants.
Rental costs in Al Majaz have remained constant across the board. The average rent for studios in Al Majaz has averaged at AED 16k, while the 1-bed and 2-bed flats, on average command rental prices of AED 24k and AED 34k, respectively.
Apart from the mentioned areas, Al Taawun, Muwailih Commercial and Al Khan have also generated interest from potential tenants in Q3 2021.
- 1 BED
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- 1 BATH
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- 587 SQFT
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- 899 SQFT
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- 319 SQFT
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- 1589 SQFT
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- 2 BATHS
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- 809 SQFT
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- 344 SQFT
Popular areas to buy and rent villas in Sharjah
BUYING VILLAS | RENTING VILLAS |
|---|---|
BUYING VILLAS Hoshi | RENTING VILLAS Al Tai |
BUYING VILLAS Al Tai | RENTING VILLAS Al Sabkha |
BUYING VILLAS Al Noaf | RENTING VILLAS Al Jazzat |
BUYING VILLAS Muwaileh | RENTING VILLAS Barashi |
BUYING VILLAS Al Gharayen | RENTING VILLAS Sharqan |
BUYING VILLAS Al Rahmaniya | RENTING VILLAS Al Nasserya |
BUYING VILLAS Sharjah Garden City | RENTING VILLAS Hoshi |
BUYING VILLAS Al Azra | RENTING VILLAS Al Ghafia |
BUYING VILLAS Sharqan | RENTING VILLAS Al Rifah |
BUYING VILLAS Al Ramaqiya | RENTING VILLAS Al Falaj |
Hoshi is the top area for buying villas in Sharjah for Q3 2021
Hoshi has been the most-searched-for area by investors interested in villa purchases in Sharjah. A strategic location on the Sharjah-Dubai border and a serene environment have made the villa community an appealing option for investors and home buyers alike.
- 4 BEDS
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- 5 BATHS
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- 2880 SQFT
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- 5 BATHS
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- 2838 SQFT
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- 4 BATHS
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- 2299 SQFT
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- 4003 SQFT
In the third quarter of 2021, the average price of 3-bedroom villas for sale in Hoshi have averaged at AED 1.54M. The cost to buy 4-bed villas in Hoshi has been AED 2.43M and buyers have paid AED 3.3M on average for 5-bed villas for sale in Hoshi in Q3 2021.
Al Tai ranks second on the list for most demanded areas for villa sales in Sharjah during 2021’s third quarter. The average price of 3-bed villas for sale in Al Tai has stood at AED 1.46M based on the trends observed in the Q3 market report. On the other hand, for buying 5-bed villas in Al Tai, investors have paid AED 3.26M on average.
Al Noaf is another district that has caught investor attention for villas in Sharjah. Conveniently located on the Dubai-Sharjah border, this neighbourhood offers family-friendly amenities. The average price for buying 3-bed houses in the area has been AED 2.6M.
Investors looking for villa properties in Sharjah have also focussed their search on areas like Muwaileh, Al Gharayen and Al Rahmania.
Al Ramaqiya has the highest ROI for villas in Sharjah
When it comes to the return on investment, Al Ramaqiya has emerged as the most lucrative option, with healthy rental yields of 6.11%. Other areas that have earned good rental returns on villas in Q3 include Hoshi, Muwaileh and Al Noaf – each with projected yields of over 5%.
Al Tai is the most popular area for rental houses in Sharjah in Q3 2021
As per data released by Bayut and dubizzle, Al Tai has been a firm favourite in Q3 2021 for renting villas in Sharjah. The average price for 3-bed villas for rent in Al Tai has increased by 3% to AED 77k in Q3 2021. Meanwhile, the 4-bed and 5-bed units have averaged at AED 107k and AED 126k in the third quarter this year.
Al Sabkha has emerged as the second most popular area for renting houses in Sharjah. Tenants renting villas in Al Sabhka have paid AED 52k as rental cost in Q3 2021, on average.
Aside from these communities, Al Jazzat, Barashi and Sharqan have attracted a high volume of tenants looking to rent villas in Sharjah.
Top off-plan projects in Sharjah
AREA | PROJECT | PROPERTY TYPE |
|---|---|---|
AREA Al Tai | PROJECT Masaar | PROPERTY TYPE Villas and townhouses |
AREA Aljada | PROJECT Naseej District | PROPERTY TYPE Apartments |
AREA Al Khan | PROJECT Maryam Island | PROPERTY TYPE Apartments |
AREA Muwaileh | PROJECT Al Zahia | PROPERTY TYPE Apartments, villas and townhouses |
AREA Sharjah Waterfront City | PROJECT Ajmal Makan | PROPERTY TYPE Villas |
When it comes to off-plan projects in Sharjah, Masaar in Al Tai has garnered the most investor interest in Q3 2021. This upcoming villa district will feature several desirable perks like a fitness centre, skatepark and a playground.
Naseej District in Aljada has also attracted investors in Q3 2021. Launched in 2020, the project has quickly gained popularity as a social space for the emirate’s creative community. The off-plan development is currently under construction and the first homes are expected to be handed over in 2023.
Maryam Island in Al Khan has also maintained its popularity among off-plan projects in the emirate. With revolutionised waterfront living and modern amenities, the apartments here have been in constant demand in Q3 2021. This first-of-its-kind development in Sharjah will also feature F&B outlets, spas, play areas, swimming pools and five-star hotels.
That concludes the Bayut and dubizzle Sharjah Q3 market report 2021. As is apparent from recent trends, the property market in the emirate has continued to thrive in the third quarter of 2021.
Like Sharjah, the Dubai property market has also flourished in the last three months. Read more about the sales trends in Dubai for Q3 2021 for updates on the prevailing property prices in the emirate. Alternatively, potential tenants can learn about the rental trends in Dubai for Q3 2021 for a detailed insight into the current state of the rental property market.
Disclaimer: This report is based on prices advertised on Bayut.com and dubizzle.com (excluding room share) by real estate agencies on behalf of their clients. The mentioned prices do not represent actual real estate transactions in Sharjah.
