Sharjah's real estate market recorded AED 27 bn in transactions during the first half of this year, a 48.1% increase y-o-y, state news agency Wam reports, citing a statement from Director-General of the Sharjah Real Estate Registration Department Abdulaziz Ahmed Al-Shamsi. The total number of transactions reached 48.1k, a 3.3% y-o-y rise.

The breakdown: 15.7k sales transactions brought in a total of AED 21.2 bn, while mortgage transactions generated AED 5.7 bn. Residential properties dominated with 11.5k transactions, representing 74.6% of total activity, while industrial transactions made up 20.8%. Commercial properties accounted for 4% of the total.

Some 109 different nationalities invested in the market, with UAE nationals contributing the lion’s share of investment, 45.2%, with a total valuation of AED 12.2 bn. Investors from outside of the GCC followed with 20.1%, and those from outside of the Arab region made up 30.1%.

REMEMBER- The Northern Emirates’ property markets have been seeing steady growth as more people relocate from Dubai to benefit from their affordability, recent infrastructure upgrades, and increased supply. Apartment and villa rents rose around 3% in 2H 2024, according to a report last year, as opposed to Dubai’s double-digit price growth.

Tags: