- Top Areas to Buy Apartments
- Top Areas to Rent Apartments
- Top Areas to Buy Villas
- Top Areas to Rent Villas
Sharjah, the third-largest emirate in the UAE, enjoys a lot of attention due to its proximity to Dubai. With approximately 30 km drive between the Emirates, Sharjah is home to many people who work in Dubai yet prefer living away from the bustling metropolis. To accommodate the massive influx of tourists, visitors and settlers, Sharjah offers a host of well-planned residential communities with diverse properties to rent and buy.
2023 was no different for Sharjah. With a vibrant urban landscape, the UAE’s cultural capital has continued to capture the interest of potential investors and tenants seeking apartments and villas. Our Sharjah annual property market report analyses the performance of the emirate’s real estate market in 2023.
According to dubizzle’s findings, the rental and sales prices of villas and apartments in the city have witnessed an upward trajectory. Noteworthy highlights of the 2023 Sharjah annual market report summarise the market performance throughout the year.
- Al Khan, Muwaileh, Al Tai, Al Jazzat, Al Nahda and Al Qasimia have remained the preferred neighbourhoods for prospective tenants and buyers in the emirate.
- Compared to 2022, the sales and rental price trends in Sharjah have witnessed upticks across the board.
- The average cost of apartments in Sharjah has ranged from AED 601k to AED 1.01M during 2023. Similarly, the average annual rent of apartments was between AED 21k and AED 45k.
- The highest Return on Investment (ROI) of 6.24% has been recorded for apartments in Al Majaz.
- Al Tai, Muwaileh, Al Jazzat and Sharjah Sustainable City have remained popular among people seeking villas to buy or rent in Sharjah.
- In 2023, the average annual rent of villas in the emirate has ranged between AED 45k to AED 135k. On the other hand, the average price tag for Sharjah villas in 2023 has been around AED 1.98M to AED 3.44M.
- With the highest ROI of 6.23%, Al Sabkha has notably drawn the attention of villa buyers.
For an elaborative overview, we have divided the 2023 Sharjah real estate market report into segments. The apartments and villas for sale and rent in Sharjah will be discussed in separate sections.
Please note that the below-mentioned areas and prices in the 2023 Sharjah annual market report are according to the dubizzle’s user data and are subject to change.
Top Areas for Buying Apartments in Sharjah
2023 data indicates that apartments have continued to be a highly favoured option among property buyers in Sharjah. An upward price trend has been observed across the board. Some areas with apartments for sale have emerged as the most lucrative ones with a decent ROI.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022 | Studio | 1-Bed | 2-Bed |
|---|---|---|---|---|---|
| Al Khan | ROI 3.51% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| Studio
| 1-Bed
| 2-Bed
|
| Muwaileh | ROI 2.74% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| Studio
| 1-Bed
| 2-Bed
|
| Al Majaz | ROI 6.24% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| Studio
| 1-Bed
| 2-Bed
|
| Al Nahda (Sharjah) | ROI 6.13% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| Studio
| 1-Bed
| 2-Bed
|
| Aljada | ROI 3.14% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| Studio
| 1-Bed
| 2-Bed
|
Let’s explore the most sought-after areas for owning an apartment in Sharjah.
Al Khan
Al Khan has emerged as the most sought-after area to buy apartments in Sharjah. The waterfront community is known for its coveted location near Al Khan Lagoon, which connects the boundaries of Sharjah and Dubai. With an average asking price of AED 948k, the apartments for sale in Al Khan have yielded an ROI of 3.51%.
- The per-square-foot price of apartments for sale in Al Khan has increased in 2023 and averaged AED 876.
- The average price of studio apartments for sale in Al Khan has been AED 398k.
- Likewise, the price tags have been recorded at AED 625k for 1-bed and AED 929k for 2-bedroom apartments.
Muwaileh
The suburban gem, Muawaileh, has secured the second spot on the list of popular communities with apartments for sale in Sharjah. Its strategic location is near Sheikh Mohammed Bin Zayed Road (E311), a major UAE highway, seamlessly connecting it to Dubai. In 2023, the average price of apartments in Muwaileh has reached AED 845k with an ROI of 2.74%.
- The average cost of buying apartments in Muwaileh has been recorded at AED 918 per square foot.
- Increased by 14.21%, the average price of a studio apartment has been AED 434k.
- Similarly, sales prices for 1 and 2-bedroom apartments averaged AED 660k and AED 1.1M, respectively.
Al Majaz
Nestled along the picturesque man-made lagoon, Al Majaz has all the qualities to look for in a family-friendly neighbourhood in Sharjah. The area has also been among the top choices for apartment seekers in the emirate in 2023. With an average sales price of AED 667k, an impressive 6.24% ROI has been recorded for apartments in Al Majaz.
- Registering a slight change, the average per-square-foot price has increased from AED 392 in 2022 to AED 395 in 2023.
- The average asking price of a 1-bedroom apartment has been AED 336k
- After observing a nominal hike, the sales price of a 2-bedroom apartment in Al Majaz averaged AED 589k.
With its boundaries spreading into Dubai, Al Nahda has emerged as another sought-after neighbourhood among Sharjah apartment seekers. The average sales price of apartments in the area has been recorded at AED 601k, with a 6.13% ROI in 2023.
Moreover, as per apartment buying trends in Sharjah, Aljada has also been a preferred choice for investors. It is a masterfully planned project offering various perks of living in a gated community. Buyers have paid an average price of AED 995k for an apartment in Aljada to enjoy an ROI of 3.14%.
Top Areas for Renting Apartments in Sharjah
POPULAR AREAS | Studio Avg. Yearly RentChange from 2022 | 1-Bed Avg. Yearly RentChange from 2022 | 2-Bed Avg. Yearly RentChange from 2022 |
|---|---|---|---|
| Al Nahda (Sharjah) | Studio Avg. Yearly RentChange from 2022
| 1-Bed Avg. Yearly RentChange from 2022
| 2-Bed Avg. Yearly RentChange from 2022
|
| Muwaileh | Studio Avg. Yearly RentChange from 2022
| 1-Bed Avg. Yearly RentChange from 2022
| 2-Bed Avg. Yearly RentChange from 2022
|
| Al Qasimia | Studio Avg. Yearly RentChange from 2022
| 1-Bed Avg. Yearly RentChange from 2022
| 2-Bed Avg. Yearly RentChange from 2022
|
| Al Majaz | Studio Avg. Yearly RentChange from 2022
| 1-Bed Avg. Yearly RentChange from 2022
| 2-Bed Avg. Yearly RentChange from 2022
|
| Al Taawun | Studio Avg. Yearly RentChange from 2022
| 1-Bed Avg. Yearly RentChange from 2022
| 2-Bed Avg. Yearly RentChange from 2022
|
With reasonable yearly rents across the emirate, renting an apartment in Sharjah has proven to be a feasible choice. According to search trends on dubizzle, most people searching for rental apartments in the emirate have considered Al Nahda (Sharjah), Muwaileh, Al Qasimia, Al Majaz, and Al Taawun as top choices.
Al Nahda (Sharjah)
According to dubizzle’s search trends, Al Nahda has claimed the top spot among the most popular areas for renting apartments in Sharjah. The area is particularly favoured among working individuals due to its reasonable rents and an ideal location near Dubai, which adds to commuting ease. Given such factors, the average annual rent for rental apartments in Al Nahda (Sharjah) has witnessed a notable increase of 15.38% from 2022, reaching an average of 30k.
- The average asking rent of studio apartments has increased from AED 16k in 2022 to AED 19k in 2023.
- The average rents of 1 and 2-bedroom apartments have been AED 25k and AED 32k, respectively.
Muwaileh
Muwaileh has followed Al Nahda to secure the second spot as the most searched area for renting apartments in Sharjah. Compared to last year, the average annual rent of rental apartments in Muwaileh has remained AED 21k, unchanged from 2022.
- The rent has averaged AED 12k for a studio apartment and AED 21k for a 1-bedroom apartment.
- Meanwhile, tenants in 2-bedroom apartments in Muwaileh have paid AED 33k on average.
Al Qasimia
According to dubizzle’s trends, no change has been observed in the rental prices of apartments in Al Qasimia. Known for its peaceful environment, Qasimia has an average annual rent of AED 21k for apartments
- For studio apartments, the average rent has been observed at AED 14k.
- To rent 1-bedroom and 2-bedroom apartments in Al Qasimia, tenants have paid an annual rent of AED 18k and AED 24k, respectively.
Al Majaz has also maintained its popularity among apartment buyers in Sharjah. The neighbourhood has secured the fourth position on the popularity list. The average annual rent of apartments in Al Majaz has been AED 39k, after an uptick of 14.71% from 2022.
As dubizzle’s rental trend, Al Taawun has also emerged as a popular apartment rental area. Following the upward trajectory, the average annual rent in the area has gone up by 12.5%, standing at AED 36k in 2023.
Top Areas for Buying Villas in Sharjah
According to user search preferences on dubizzle, Al Tai, Muwaileh, Sharjah Sustainable City, Hoshi and Al Rahmaniya have emerged as the top five areas for buying villas in Sharjah. The cost of a five-bedroom unit in Al Tai has averaged AED 5.84M, the highest sales price recorded for villas in Sharjah during 2023.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022 | 3-Bed | 4-Bed | 5-Bed |
|---|---|---|---|---|---|
| Al Tai | ROI 3.40% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| 3-Bed
| 4-Bed
| 5-Bed
|
| Muwaileh | ROI 5.42% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| 3-Bed
| 4-Bed
| 5-Bed
|
| Sharjah Sustainable City | ROI 5.06% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| 3-Bed
| 4-Bed
| 5-Bed
|
| Hoshi | ROI 4.75% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| 3-Bed
| 4-Bed
| 5-Bed
|
| Al Rahmaniya | ROI 2.38% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2022
| 3-Bed
| 4-Bed
| 5-Bed
|
Here are more details about the top-searched areas for buying villas in Sharjah.
Al Tai
Al Tai, also known as Al Tayy, has been the top choice for buying a villa in Sharjah, as per trends on dubizzle. The suburban community enjoys a central location in Sharjah. Its strategic position at the intersection of Emirates Road (E611) and Sharjah Kalba Road (E102) ensures easy inter-emirate commuting.
For buying a villa in Al Tai, the average cost has been observed at AED 3.44M, with an estimated ROI of 3.4%.
- The per-square-foot price of villas increased from AED 727 in 2022 to AED 880 in 2023.
- The average cost to acquire a 3-bedroom villa in Al Tai has been recorded at AED 2.03M, after a hike of 16.42%
- The prices for 4 and 5-bedroom villas averaged AED 2.72M and AED 5.85M, respectively.
Muwaileh
Situated on the outskirts of Sharjah, Muwaileh serves as a prime location for buying villas. The area offers spacious residences with expansive outdoor gardens and a host of modern amenities. Yielding an impressive 5.42% ROI, Muwaileh has ranked second on the list of areas preferred by villa buyers. During 2023, the sales price of villas has averaged AED 2.94M in the area.
- The price per square foot of villas in the area experienced a notable uptrend, increasing from AED 641 in 2022 to AED 826 in 2023.
- Following an increase of 40.48%, the average price for a 3-bedroom villa has been observed at AED 2.11M.
- The asking prices of 4-bedroom and 5-bedroom villas averaged AED 3.23M and AED 4.84M in 2023, respectively.
Sharjah Sustainable City
Known for its environmentally friendly infrastructure, Sharjah Sustainable City comes next on the list of top villa communities for investors in Sharjah. The average price of villas has stood at AED 2.28M, with an ROI of 5.06% in 2023.
- The per-square-foot price of villas for sale in Sharjah Sustainable City has increased from AED 706 in 2022 to AED 794 in 2023.
- Buyers seeking a 3-bedroom villa in Sharjah Sustainable City have paid an average price tag of AED 1.89M in 2023 compared to 1.67M in 2022.
- Moreover, for 4-bedroom and 5-bedroom villas, the prices have averaged AED 2.32M and AED 3.27M, respectively.
Nestled in the serene outskirts of Sharjah near Dubai’s border, Hoshi serves as a tranquil residential haven. For buying a villa in Hoshi, investors have paid an average of AED 2.82M, an investment that yielded 4.75% ROI in 2023.
Hoshi has been followed by Al Rahmania in popularity among villa investors in Sharjah. Al Rahmania is another peaceful neighbourhood comprising 10 residential sub-communities. For 2023m Villas for sale in Al Rahmania have an estimated price of AED 1.98M with an ROI of 2.38%.
Top Areas for Renting Villas in Sharjah
POPULAR AREAS | 3-Bed Avg. Yearly RentChange from 2022 | 4-Bed Avg. Yearly RentChange from 2022 | 5-Bed Avg. Yearly RentChange from 2022 |
|---|---|---|---|
| Al Tai | 3-Bed Avg. Yearly RentChange from 2022
| 4-Bed Avg. Yearly RentChange from 2022
| 5-Bed Avg. Yearly RentChange from 2022
|
| Al Jazzat | 3-Bed Avg. Yearly RentChange from 2022
| 4-Bed Avg. Yearly RentChange from 2022
| 5-Bed Avg. Yearly RentChange from 2022
|
| Muwaileh | 3-Bed Avg. Yearly RentChange from 2022
| 4-Bed Avg. Yearly RentChange from 2022
| 5-Bed Avg. Yearly RentChange from 2022
|
| Al Ghafia | 3-Bed Avg. Yearly RentChange from 2022
| 4-Bed Avg. Yearly RentChange from 2022
| 5-Bed Avg. Yearly RentChange from 2022
|
| Al Sabkha | 3-Bed Avg. Yearly RentChange from 2022
| 4-Bed Avg. Yearly RentChange from 2022
| 5-Bed Avg. Yearly RentChange from 2022
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||
According to rental trends observed on dubizzle, all the popular areas for renting villas in Sharjah have witnessed rent hikes. Al Tai, Al Jazzat, Muwaileh, Al Ghafia and Al Sabkha turned out to be the most preferred neighbourhoods by villa renters in the emirate.
Let’s learn more about the annual yearly rents for different types of villas in these sought-after areas.
Al Tai
As per search trends recorded in 2023, Al Tai has also remained the most preferred neighbourhood for villa renters in Sharjah. With a slight increase, the yearly rent for rental villas in Al Tai has averaged AED 111k.
- Increasing by 8.43%, the average asking rent for a 3-bedroom villa has been AED 90k per year.
- The annual rental cost of a 4-bed villa in Al Tai has averaged AED 122k, whereas the average rent of a 5-bedroom villa has dropped to AED 127k.
Al Jazzat
With an average yearly rent of AED 124k, Al Jazzat has turned out to be the second most popular neighbourhood for renting villas in Sharjah. It is nestled in the heart of Al Riqa Suburb in the northwest of Sharjah. The neighbourhood enjoys proximity to the Ajman-Sharjah border. Surrounded by the city’s key thoroughfares, the community enjoys convenient access to Sharjah International Airport and inter-emirate commutes.
- Witnessing an upward price trend, the annual asking rent of 3-bed villas in Al Jazzat has averaged AED 62k in 2023.
- For renting a 4-bedroom villa, the average annual cost has been up by 22.89% and reached AED 102k.
Muwaileh
Ranked third on the list, Muwaileh has also garnered the interest of villa renters in Sharjah. Located just a few kilometres from King Faisal Street, Muwaileh offers ease of commuting to residents. The annual rent for villas for rent in Muwaileh has registered a 10.37% increase and has averaged AED 149k.
- The yearly rent of 3-bed villas in Muwaileh has increased from AED 109k to AED 129k in 2023.
- The rental prices of 4-bed and 5-bed villas in the area have been AED 177k and AED 226k a year, respectively.
Enjoying seamless connectivity to the Sharjah public transport system, Al Ghafia has also appeared among the sought-after neighbourhoods for Sharjah villa renters. Following a noticeable upward trend, the average rent of villas in Al Ghafia has increased from AED 45k to AED 70k.
Furthermore, the area of Al Sabkha has also made the list of popular areas to rent villas in Sharjah. The annual asking rent of villas in the area has been AED 57k after increasing by 18.75% in 2023. Many of the prominent neighbourhoods of the emirate have appeared as sought-after areas in the Sharjah rental market report for 2023.
That marks the end of dubizzle’s Sharjah property market report for 2023. The analysis of the price trends observed throughout the year speaks volumes about the positive growth of Sharjah’s real estate market. Investors eyeing a lucrative investment can explore these properties for sale in Sharjah and capitalise on the steadily growing ROI. The Sharjah annual sales market report has outlined prominent sales price upticks compared to the real estate market report for Sharjah 2022.
Keep reading dubizzle’s real estate blogs for more insightful analysis and updates on UAE’s thriving property market similar to the 2023 Sharjah annual market report.
Related Posts
