Sharjah real estate prices have increased between 15 and 20 per cent since the emirate’s Executive Council opened its doors to allow people of any nationality purchase properties of all kinds, says Metropolitan Premium Properties.
On high demand and growth potential the property group opened a new office in Sharjah that will cover all of the Northern Emirates.
“The real estate market in Sharjah is more stable and is less prone to price volatility,” said Khaled Ahmed, Sales Director for Northern Emirates at Metropolitan Premium Properties.
Sharjah property prices spike
“The changes to the real estate law by the government of Sharjah have had a positive impact on buyer interest as the Emirate has witnessed a 30 percent increase in demand for off-plan and ready units.
“There is a lack of inventory in the market with prices of some villas even higher than in Dubai.”
Prices are expected to continue this upward trend with many new high-end communities and developments coming online including Masar and Haayan.
The Emirate is also well-positioned to draw many tourists with numerous hospitality projects including ROVE and VIDA hotels.
Metropolitan Premium Properties has seen majority interest from Indians who make up nearly 70 percent of the buyers followed by Pakistani and Arab buyers.
There is also significant interest from Emiratis from Abu Dhabi, Ras Al Khaimah and Fujairah looking to buy second/holiday homes.
The most in-demand properties range between AED2m and AED4m with nearly 70 percent being end users.
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