Transactions in Sharjah’s real estate market jumped nearly 85 percent in the first quarter of 2021 compared to the same period last year.
According to the Real Estate Registration Department in Sharjah, the property sector saw deals amounting to AED6.7 billion.
The total number of transactions executed in the past three months reached 20,448 transactions, an increase of 10.3 percent compared to the same period last year. In addition, the total traded area in the emirate reached 60.3 million square feet.
Investors from 43 nationalities were involved in the real estate transactions in Sharjah in Q1, with a total of 4,125 investors.
These included 3,214 investors from the GCC countries, who traded 5,771 properties worth AED5.3 billion while 911 foreign investors traded 1,036 properties at a value of AED1.4 billion.
Abdulaziz Ahmed Al-Shamsi, director general of the Real Estate Registration Department in Sharjah, said the latest figures were evidence of the sector’s gradual recovery from the global coronavirus pandemic.
Al-Shamsi added that the sector benefited from the decision of Sharjah government regarding reducing buyer fees for non-Gulf Cooperation Council citizens from 4 percent to 2 percent of the sale value which took effect at the beginning of last November.
During Q1, residential real estate led the way with transactions reaching 1,044 transactions, 75 percent of the total transactions, followed by industrial (157) and commercial (156).
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