The Ajman property market has observed positive trends in the first half of 2023. The fifth-largest Emirates in the UAE has attracted investors and renters more or less like the other cities. With the first half of 2023 now completed, it is possible to identify the recurring trends in the Emirate in comparison to those in H2 2022.
The Ajman real estate market report H1 2023 reflects the property market dynamics based on trends on the dubizzle platform. Ajman has shown positive trends in the majority of property segments.
Let’s take a quick look at the recurring real estate market trends in Ajman during H1 2023 as compared to those of H2 2022.
- The average per-square-foot price of apartments for sale in Ajman has increased for all popular areas.
- Al Rashidiya has observed the biggest rise with average prices for apartments increasing by about 28% in H1 2023.
- For villas, the average per square foot sales prices have observed mixed trends. The prices have increased in some popular areas while decreased in others.
- Al Rawda has the largest change in average price for villas with rates going up by 25%.
- The average rental price for villas has increased in the majority of the popular areas.
- As far as prices are concerned, the rental price of apartments has observed a positive trend.
- Villas in Al Zahya have the highest ROI, 6.63% while Emirates City has the highest ROI, 9.81% for apartments.
Disclaimer: Please note that the rent and sale prices mentioned are subject to change depending on the area, amenities, the project developer and some other key factors.
TOP AREAS FOR BUYING APARTMENTS IN AJMAN
|
POPULAR AREAS
|
ROI
|
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
Studio
|
1-Bed
|
2-Bed
|
3-Bed
|
|---|---|---|---|---|---|---|
| Ajman Downtown |
ROI
9.30% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
Studio
|
1-Bed
|
2-Bed
|
3-Bed
|
| Al Nuaimiya |
ROI
7.29% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
Studio
|
1-Bed
|
2-Bed
|
3-Bed
|
| Emirates City |
ROI
9.81% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
Studio
|
1-Bed
|
2-Bed
|
3-Bed
|
| Al Rashidiya |
ROI
7.07% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
Studio
|
1-Bed
|
2-Bed
|
3-Bed
|
| Al Amerah |
ROI
9.09% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
Studio
|
1-Bed
|
2-Bed
|
3-Bed
|
As per the Ajman real estate market report H1 2023, apartments have remained a popular choice for people looking to reside in the Emirate. According to the transactions on dubizzle, some areas have emerged as the most popular ones for buying apartments in Ajman.
Let’s have a look at the most famous areas for buying apartments in Ajman.
AJMAN DOWNTOWN
Ajman Downtown has emerged the most popular for purchasing apartments in the Emirate. Located in the vicinity of Al Rumaila and Al Rashidiya, Ajman Downtown is home to many apartments of grandeur status.
Ajman Downtown has an average sale price of AED 255k and a 9.30% ROI. The area, covered with lush green gardens and beautiful landscapes, holds a notable place in Ajman real estate market.
- The average price per square foot for apartments in Ajman Downtown has increased by 9.09% and has reached AED 207.
- The asking price for studio apartments has averaged AED 142k. Whereas, it has increased to AED 212k for 1-bed apartments.
- For 2-bed apartments, the average sale price has been recorded at AED 288k. Whereas, the average sale price for 3-bed apartments have increased to AED 363k
AL NUAIMIYA
With an ROI of 7.29% and an average price of AED 373k, Al Nuaimiya has been the second most popular choice for people looking for an apartment in Ajman. Al Nuaimiya’s location puts the area close to many of the major attraction points in the Emirate.
- Compared to H2 2022, the average per-square-foot price, after a hike of 1.74%, has increased to AED 361.
- The average selling prices of studio and 1-bed apartments in Al Nuaimiya have increased to AED 158k and AED 314k, respectively.
- The average price has been recorded at AED 454k for 2-bed apartments and AED 408k for 3-bed apartments.
EMIRATES CITY
Emirate City is one of the most upscale areas in Ajman. With average prices of AED 202k and 9.81% ROI for apartments, Emirate City has secured third place as the most popular area for buying apartments in Ajman.
- In H1 2023, the price per square foot in Emirate City has increased from AED 169 to AED 178 after a 4.79% rise.
- The price has averaged AED 233k for studio apartments and AED 165k for 1-bed apartments.
- The average price for 2-bed and 3-bed apartments in Emirates City has increased to AED 234k and AED 303k respectively.
Based on the searches on the dubizzle platform in H1 2023, Al Rashidiya has been a popular area for those looking to buy apartments in Ajman. The average asking price has been recorded at AED 521k with a 7.07% ROI. Whereas, the asking price for apartments in Al Amerah has averaged AED 191k with an ROI of 9.09%.
TOP AREAS FOR RENTING APARTMENTS IN AJMAN ON A YEARLY BASIS
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POPULAR AREAS
|
Studio
Avg. Yearly RentChange from H2 2022
|
1-Bed
Avg. Yearly RentChange from H2 2022
|
2-Bed
Avg. Yearly RentChange from H2 2022
|
|---|---|---|---|
| Al Nuaimiya |
Studio
Avg. Yearly RentChange from H2 2022
|
1-Bed
Avg. Yearly RentChange from H2 2022
|
2-Bed
Avg. Yearly RentChange from H2 2022
|
| Al Rashidiya |
Studio
Avg. Yearly RentChange from H2 2022
|
1-Bed
Avg. Yearly RentChange from H2 2022
|
2-Bed
Avg. Yearly RentChange from H2 2022
|
| Ajman Downtown |
Studio
Avg. Yearly RentChange from H2 2022
|
1-Bed
Avg. Yearly RentChange from H2 2022
|
2-Bed
Avg. Yearly RentChange from H2 2022
|
| Al Rawda |
Studio
Avg. Yearly RentChange from H2 2022
|
1-Bed
Avg. Yearly RentChange from H2 2022
|
2-Bed
Avg. Yearly RentChange from H2 2022
|
| Al Jurf |
Studio
Avg. Yearly RentChange from H2 2022
|
1-Bed
Avg. Yearly RentChange from H2 2022
|
2-Bed
Avg. Yearly RentChange from H2 2022
|
|
Not available due to low/no historical inventory or influx of off-plan properties
|
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Renting in Ajman is a budget-friendly option as compared to some other Emirates. According to the H1 2023 Ajman real estate market report, people looking for rental apartments in the Emirate have shown interest in Al Nuaimiya, Al Rashidiya, Ajman Downtown, Al Rawda and Al Jurf.
AL NUAIMIYA
Al Nuaimiya has ranked as the most popular area for renting apartments in Ajman on an annual basis.
- With a 3.85% hike, the average yearly rent for apartments in Al Nuaimiya has reached AED 27k.
- The average yearly rent for studio apartments has reached AED 25k after a 66.67% increase. Whereas the asking rental price has averaged at AED 25k for 1-bed apartments.
- For 2-bed apartments, the average yearly rent has decreased to AED 28k after a -3.45% drop.
AL RASHIDIYA
According to the H1 2023 Ajman Property Sales and Rent Market Report, Al Rashidiya is ranked as the second most popular area for renting apartments in Ajman.
- The average yearly rent in Al Rashidiya has increased to AED 30k with a 20.00% rise in H1 2023.
- As compared to H2 2022, the prices for studio, 1-bed and 2-bed apartments have increased to AED 18k, AED 24k and 37k respectively.
AJMAN DOWNTOWN
Ajman Downtown has also been a popular area for renting apartments in the Emirate.
- According to dubizzle data, the average yearly rent in Ajman Downtown has increased by 8.70% and reached AED 25k.
- The average rental prices for studio apartments have increased to AED 14k. Whereas, the asking prices for 1-bed and 2-bed apartments have decreased to AED 19k and AED 27k respectively.
Al Rawda and Al Jurf have also been among the top areas for renting apartments in Ajman. The asking rental prices for apartments have increased to AED 26k in Al Rawda and AED 23k in Al Jurf.
TOP AREAS FOR BUYING VILLAS IN AJMAN
|
POPULAR AREAS
|
ROI
|
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
3-Bed
|
4-Bed
|
5-Bed
|
|---|---|---|---|---|---|
| Al Yasmeen |
ROI
5.95% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
3-Bed
|
4-Bed
|
5-Bed
|
| Al Zahya |
ROI
6.63% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
3-Bed
|
4-Bed
|
5-Bed
|
| Al Rawda |
ROI
4.94% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
3-Bed
|
4-Bed
|
5-Bed
|
| Al Zorah |
ROI
4.70% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
3-Bed
|
4-Bed
|
5-Bed
|
| Ajman Uptown |
ROI
6.15% |
PRICE PER SQ.FT
Avg. Price/sq.ftChange from H2 2022
|
3-Bed
|
4-Bed
|
5-Bed
|
As per the transactions done on the dubizzle platform, Al Yasmeen, Al Zahya, Al Rawda, Al Zorah and Ajman Uptown have emerged as the most popular areas for buying villas in Ajman.
AL YASMEEN
Al Yasmeen, located near the Ajman-Sharjah border, is a villa-friendly community in the Emirate. With an average sale price of AED 1.27M and 5.95% ROI, the area has been ranked as the most popular one for buying villas in Ajman.
- According to transactions done on dubizzle in H1 2023, the average per-square-foot price in Al Yasmeen has increased to AED 402 as compared to AED 381 during H2 2022.
- The average price for 3-bed and 4-bed villas has increased to AED 1.10M and AED 1.17M respectively. Whereas, it has averaged to AED 1.30M for 5-bed villas.
AL ZAHYA
With an average price of AED 1.12M and 6.63% ROI, Al Zahya has attained the second spot. Al Zahya is a developing community with plenty of residential properties and villas for sale in Ajman.
- After a drop of 2.85%, the per-square-foot price has decreased to AED 366.
- The average prices have averaged AED 1.03M for 4-bedroom villas.
- However, the asking price for 3-bed and 5-bed villas has decreased to AED 1.02M and AED 1.21M respectively.
AL RAWDA
Al Rawda, with an average sale price of AED 1.65M and 4.94% ROI has attained the third position as the top area for buying villas in Ajman.
- The per-square-foot price in Al Rawda which was 273 during H2 2022, has increased to AED 341 in H1 2023.
- The average prices for villas have significantly increased for 3-bed and 4-bed villas and have reached AED 1.29M and AED 1.35M.
- For 5-bed villas, the average price has averaged AED 1.66M.
For those looking for villas in Ajman, Al Zorah and Ajman Uptown have also been popular choices. Al Zorah has an average price of AED 3.31M and 4.70% ROI. Whereas, the asking price in Ajman Downtown has been AED 1.19M with an ROI of 6.15%.
TOP AREAS FOR RENTING VILLAS IN AJMAN ON A YEARLY BASIS
|
POPULAR AREAS
|
3-Bed
Avg. Yearly RentChange from H2 2022
|
4-Bed
Avg. Yearly RentChange from H2 2022
|
5-Bed
Avg. Yearly RentChange from H2 2022
|
|---|---|---|---|
| Al Mowaihat |
3-Bed
Avg. Yearly RentChange from H2 2022
|
4-Bed
Avg. Yearly RentChange from H2 2022
|
5-Bed
Avg. Yearly RentChange from H2 2022
|
| Al Yasmeen |
3-Bed
Avg. Yearly RentChange from H2 2022
|
4-Bed
Avg. Yearly RentChange from H2 2022
|
5-Bed
Avg. Yearly RentChange from H2 2022
|
| Al Rawda |
3-Bed
Avg. Yearly RentChange from H2 2022
|
4-Bed
Avg. Yearly RentChange from H2 2022
|
5-Bed
Avg. Yearly RentChange from H2 2022
|
| Al Zahya |
3-Bed
Avg. Yearly RentChange from H2 2022
|
4-Bed
Avg. Yearly RentChange from H2 2022
|
5-Bed
Avg. Yearly RentChange from H2 2022
|
| Al Zahra |
3-Bed
Avg. Yearly RentChange from H2 2022
|
4-Bed
Avg. Yearly RentChange from H2 2022
|
5-Bed
Avg. Yearly RentChange from H2 2022
|
|
Not available due to low/no historical inventory or influx of off-plan properties
|
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According to dubizzle consumer data recorded in H1 2023, Al Mowaihat, Al Yasmeen and Al Rawda have been the popular choices for renting villas in Ajman.
AL MOWAIHAT
Al Mowaihat has been the most popular area among people looking for rental villas in Ajman.
- During H1 2023, the average yearly rent in Al Mowaihat has increased by 3.41% and reached AED 91k.
- The area has observed positive growth with rental prices for 3-bed, 4-bed and 5-bed apartments reaching AED 60k, AED 70k and AED 91k respectively.
AL YASMEEN
A villa-friendly community, Al Yasmeen has been another popular area for villa rental in Ajman.
- With a slight increase of 0.90%, the average rent has reached AED 82k in the area.
- The average rental price for 3-bed villas has decreased to AED 67k. Whereas, the annual rental price has increased to AED 74k for 4-bed villas and AED 83k for 5-bed villas.
AL RAWDA
Al Rawda has emerged as the third-most-popular area for renting villas in Ajman.
- During H1 2023, the average yearly rent for renting villas in Al Rawda has increased to AED 81k.
- 3-bed villa prices have decreased to AED 54k. On the other hand, the average annual rents have increased to AED 76k and AED 83k for 4-bed and 5-bed villas respectively.
Another popular area for renting villas in Ajman, Al Zahya has an average yearly rent of AED 81k. Whereas, the average rent for villas in Al Zahra has been recorded at AED 79k.
With this, we conclude the Ajman real estate market report H1 2023. The Emirate has shown steady growth during the first half of 2023. The Emirate remains a considerable option for buying and renting properties in the UAE.
If you are looking for a property to buy or rent in Ajman, browse through the following:
You can find different UAE property types in the most popular areas. Moreover, go through the Ajman property report 2022 and find out how the property market fared in 2022. Want to know the property analysis of other major Northern Emirates? Check out RAK H1 sales and rental report and find out all the details.
Stay tuned to dubizzle’s property blog for property market analysis of different Emirates.
Disclaimer: The market trends presented in the Ajman real estate market report H1 2023 are based on the properties listed on dubizzle for sale and rent. This, by any means, is not an actual representation of real estate trends in the Emirate.
