- Areas for Buying Apartments
- Areas for Renting Apartments
- Areas for Buying Villas
- Areas for Renting Villas
The real estate market in Sharjah has observed significant growth in the first six months of 2024, driven by recent infrastructure developments such as drainage and sewage projects, as well as new road constructions. These enhancements are set to improve accessibility to other emirates, thereby strengthening Sharjah’s strategic location. Additionally, the affordability of real estate continues to attract residents, further fueling market growth. This combination of factors has led to a notable surge in property prices in the emirate. dubizzle’s analysis corroborates this trend, highlighting increases in both rental and sales prices for properties in Sharjah.
As per the insights of dubizzle, the average sales and rent have increased in Sharjah. Following are some key highlights of the H1 2024 Sharjah real estate market report.
- Al Nahda, Muwaileh and Al Qasimia have remained popular among the tenants for renting apartments in H1 2024.
- Muwaileh has witnessed the highest increase of 26.92% in the average annual rent of apartments. The area has also observed the highest change of 43.75% and 37.04% in the annual rents of studio and 1-bedroom apartments, respectively.
- Al Khan, Muwaileh, Aljada, and Al Nahda have remained the preferred areas to buy apartments in Sharjah in H1 2024.
- Aljada has witnessed the highest increase of 22.29% in the annual sales prices of apartments. Whereas, the highest ROI of 7.54% has been recorded in Al Nahda.
- Al Jazzat, Al Rahmaniya and Al Tai have been the most preferred areas for renting villas in Sharjah in H1 2024.
- In H1 2024, the average rent of villas in Sharjah has ranged between AED 122k and AED 146k.
- The highest change of 64.95% has been observed in the average rent of 5-bedroom villas in Al Jazzat.
- For buying villas, Tilal City, Al Rahmaniya and Muwaileh have remained the most preferred areas.
- The highest average sales price of villas in Sharjah has been AED 4M, recorded in Tilal City. Whereas, the highest ROI of 5.26% on villas has been recorded in Muwaileh.
The following Sharjah real estate market report H1 2024 is based on the in-depth analysis of dubizzle’s data. For better understanding, the report is divided into several categories based on property for sale and rent.
Top Areas for Buying Apartments in Sharjah
The following areas have been the most popular among those looking to buy apartments in Sharjah in H1 2024.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023 | Studio | 1-Bed | 2-Bed |
|---|---|---|---|---|---|
| Al Khan | ROI 4.62% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Muwaileh | ROI 4.56% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Aljada | ROI 5.29% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Al Nahda | ROI 7.54% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Al Majaz | ROI 6.09% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| Studio
| 1-Bed
| 2-Bed
|
Al Khan
The waterfront community of Al Khan has topped the list of the most popular areas to buy apartments. This waterfront community is home to famous tourist destinations, including Sharjah Aquarium and Sharjah Expo Center.
In fact, Al Khan is one of the most popular areas to buy a 1-bedroom apartment in Sharjah. The apartments in the area have recorded an average sales price of AED 1.11M with an ROI of 4.62%.
- The price per square foot of apartments for sale in Al Khan has increased by 3.74%, making it AED 932 in H1 2024.
- Similarly, the prices of studio, 1 and 2-bedroom apartments have increased by 9.58%, 7.83% and 3.08% averaging AED 812k, AED 1.07M and AED 1.57M, respectively.
Muwaileh
Muwaileh is located on the outskirts of Sharjah near the Sheikh Mohammed Bin Zayed Road (E311). The community features low-rise buildings with 3 to 7 floors. Moreover, it is among the most popular areas to rent apartments in Sharjah. The average sales price of apartments in Muwaileh has been AED 970k in H1 2024. Whereas, the estimated ROI of apartments in the area has been 4.56%.
- The price per square foot of apartments for sale in Muwaileh has averaged AED 966.
- The average price of a studio apartment has been AED 697k. Whereas, the average prices for 1-bed and 2-bedroom apartments have been AED 1.21M and AED 1.52M, respectively.
Aljada
One of the most popular areas to buy studio apartments in Sharjah-Aljada spans an area of 2.2km, featuring around 70,000 residential units. The community is known for offering a secure and peaceful lifestyle to its residents. In H1 2024, the average sales price of apartments in Aljada has witnessed an increase of 22.29% from H2 2023, reaching AED 1.28M. The ROI offered by Aljada has been 5.29%.
- The price per square foot of apartments for sale in Aljada has been AED 1,136.
- The sales price of studio apartments in the area has averaged AED 896k. Whereas, AED 1.43M and AED 2.22M have been the average sales price of 1 and 2-bedroom apartments.
Al Nahda and Al Majaz have also remained on the list of popular areas to buy apartments in Sharjah. Apartments in Al Nahda have delivered an ROI of 7.54% with an average sales price of AED 530k. Meanwhile, the sales price of apartments in Al Majaz has been AED 737k with an ROI of 6.09%.
Top Areas for Renting Apartments in Sharjah
The following are the areas that have remained popular among tenants looking for apartments in H1 2024.
POPULAR AREAS | STUDIO Avg. Yearly RentChange from H2 2023 | 1-BED Avg. Yearly RentChange from H2 2023 | 2-BED Avg. Yearly RentChange from H2 2023 |
|---|---|---|---|
| Al Nahda | STUDIO Avg. Yearly RentChange from H2 2023
| 1-BED Avg. Yearly RentChange from H2 2023
| 2-BED Avg. Yearly RentChange from H2 2023
|
| Muwaileh | STUDIO Avg. Yearly RentChange from H2 2023
| 1-BED Avg. Yearly RentChange from H2 2023
| 2-BED Avg. Yearly RentChange from H2 2023
|
| Al Qasimia | STUDIO Avg. Yearly RentChange from H2 2023
| 1-BED Avg. Yearly RentChange from H2 2023
| 2-BED Avg. Yearly RentChange from H2 2023
|
| Al Taawun | STUDIO Avg. Yearly RentChange from H2 2023
| 1-BED Avg. Yearly RentChange from H2 2023
| 2-BED Avg. Yearly RentChange from H2 2023
|
| Abu Shagara | STUDIO Avg. Yearly RentChange from H2 2023
| 1-BED Avg. Yearly RentChange from H2 2023
| 2-BED Avg. Yearly RentChange from H2 2023
|
Al Nahda
Al Nahda has topped the list of the most popular areas to rent apartments in Sharjah. The average annual rent of Al Nahda has increased by 16.67% making it AED 35k for H1 2024.
- An increase has been observed in the average rent of studio, 1 and 2-bedroom apartments.
- The annual rent of studio apartments averaged AED 25k. Whereas, it has been AED 31k for 1-bedroom and AED 39k for 2-bedroom apartments.
Muwaileh
Muwaileh with an average annual rent of AED 33k has ranked second on the list.
- The rent of studio apartments has increased by 43.75%, averaging AED 23k for the H1 2024.
- Similarly, the rent of 1 and 2-bedroom apartments have increased by 37.04% and 20.00%, making it AED 37k and AED 48k for H1 2024, respectively.
Al Qasimia
Al Qasimia is known for its ideal location and the wide range of amenities it offers to the residents. In fact, Al Qasimia is one of the most popular areas to rent affordable apartments in Sharjah. The annual rent of apartments in Al Qasimia has increased from AED 22k in H2 2023 to AED 27k in H1 2024.
- The rent of studio apartments has jumped from AED 14k to AED 17k.
- However, the rent of 1 and 2-bedroom apartments averaged AED 23k and AED 31k, respectively.
Al Taawun and Abu Shagara have also made it to the list of popular areas to rent apartments in H1 2024. The average annual rent of apartments in Al Taawun has been AED 40k. Whereas, it has been AED 27k for apartments for sale in Abu Shagara.
Top Areas for Buying Villas in Sharjah
Following are the most searched for areas in H1 2024 to buy villas in Sharjah.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023 | 3-Bed | 4-Bed | 5-Bed |
|---|---|---|---|---|---|
| Tilal City | ROI 4.74% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
| Al Rahmaniya | ROI 3.27% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
| Muwaileh | ROI 5.26% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
| Hoshi | ROI 5.24% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
| Al Tai | ROI 4.97% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
Tilal City
The mixed-use community of Tilal City covers an area of 25 million sq. ft. featuring around 65,000 residential units. The community is equipped with modern amenities and facilities, making it an ideal area for families. In H1 2024, the sales price of villas in Tilal City averaged AED 4M with an estimated ROI of 4.74%.
- The price per square foot of villas in Tilal City has increased from AED 966 in H2 2023 to AED 1,000 in H1 2024.
- The price of 3-bed villas for sale in Tilal City averaged AED 2.33M. Whereas, the prices of 4 and 5-bedroom villas have been AED 3.06M and AED 6M, respectively.
Al Rahmaniya
Situated near the Sharjah Equestrian and Racing Club and Sharjah National Park, Al Rahmaniya is one of the top villa communities in Sharjah. The community is home to a myriad of villas and townhouses, each equipped with all the basic lifestyle amenities and facilities.
The average sales price of villas in Al Rahmaniya has been AED 2.65M after an increase of 7.85% from H2 2023. Whereas, the estimated ROI of villas in Al Rahmaniya has been 3.27%.
- The price per square foot of villas for sale in Al Rahmaniya has been AED 915 after an increase of 9.65% from H2 2023.
- The sales price of 3-bed villas averaged AED 2.28M. Whereas, the recorded sales price of 4 and 5-bedroom villas averaged AED 2.57M and AED 3.61M, respectively.
Muwaileh
Third on the list, Muwaileh offered villas at an average sales price of AED 3.09M with an ROI of 5.26%.
- The price per square foot price of villas has increased by 10.85% making it AED 957 for the H1 2024.
- The prices of 3-bedroom villas have dropped by 6.22% averaging at AED 2.29M. The drop has continued in the sales price of 4 and 5-bedroom villas averaging AED 2.66M and AED 4.54M, respectively.
Muwaileh has been followed by Hoshi and Al Tai. Hoshi has offered an ROI of 5.24% in H1 2024 at an average sales price of AED 3.07M. Whereas, the average sales price of Al Tai has been AED 2.58M with an ROI of 4.97%.
Top Areas for Renting Villas in Sharjah
Here are the most searched for areas in H1 2024 to rent villas.
POPULAR AREAS | 3-BED Avg. Yearly RentChange from H2 2023 | 4-BED Avg. Yearly RentChange from H2 2023 | 5-BED Avg. Yearly RentChange from H2 2023 |
|---|---|---|---|
| Al Jazzat | 3-BED Avg. Yearly RentChange from H2 2023
| 4-BED Avg. Yearly RentChange from H2 2023
| 5-BED Avg. Yearly RentChange from H2 2023
|
| Al Rahmaniya | 3-BED Avg. Yearly RentChange from H2 2023
| 4-BED Avg. Yearly RentChange from H2 2023
| 5-BED Avg. Yearly RentChange from H2 2023
|
| Al Tai | 3-BED Avg. Yearly RentChange from H2 2023
| 4-BED Avg. Yearly RentChange from H2 2023
| 5-BED Avg. Yearly RentChange from H2 2023
|
| Hoshi | 3-BED Avg. Yearly RentChange from H2 2023
| 4-BED Avg. Yearly RentChange from H2 2023
| 5-BED Avg. Yearly RentChange from H2 2023
|
| Sharqan | 3-BED Avg. Yearly RentChange from H2 2023
| 4-BED Avg. Yearly RentChange from H2 2023
| 5-BED Avg. Yearly RentChange from H2 2023
|
Al Jazzat
Al Jazzat is one of the top areas to rent villas in Sharjah, sandwiched between four major roads of Sharjah, making it easily accessible from different parts of the emirate. The grid-like infrastructure, presence of modern amenities and ideal location are a few features that add to the popularity of Al Jazzat.
- The annual rent of villas in Al Jazzat averaged AED 133k after a decrease of 5.67% from H1 2023.
- The annual rent of 3, 4 and 5-bedroom villas in Al Jazzat averaged AED 64k, AED 82k and AED 160k, respectively.
Al Rahmaniya
Al Rahmaniya followed Al Jazzat securing second position on the list with an annual rent of AED 133k.
- The annual rent of 3-bedroom villas has been AED 123k.
- Whereas, it has been AED 140k for 4-bedroom and AED 150k for 5-bedroom villas.
Al Tai
Al Tai offered villas on an annual rent of AED 126k, known for their exceptional design, green spaces and luxury interior.
- The annual rent of 3-bedroom villas in Al Tai averaged AED 95k.
- The recorded rent of 4 and 5-bedroom villas has been AED 143k and AED 154k, respectively.
Tenants looking for villas in H1 2024 have also preferred Hoshi and Sharqan. The average annual rent of villas in Hoshi has been AED 146k. Whereas, the rent of villas in Sharqan averaged AED 122k. You can browse through these villas for rent in Sharqan and choose an ideal residence.
Here we will wrap our Sharjah real estate market report H1 2024. As per the analysis, an upward trajectory has been observed in both, rental and sales prices of apartments and villas. The higher property prices are backed by infrastructure development, government strategies and convenient inter-emirate travelling. To avail of this surge, you can browse through these properties for sale in Sharjah and choose an ideal unit for investment.
Stay tuned to dubizzle’s property blog for more information on real estate trends.
Disclaimer: The prices mentioned above are based on dubizzle’s data and they may or may not reflect the actual market trends observed in H1 2024.
