According to a latest report about Sharjah Property, average rental rates for apartments in Northern Emirates especially in Sharjah declined by 6% whereas villas rates remained steady during Q2 2012. Annual apartments' rental rates declined by 21% and 12% along the Mina Road and in Al Yarmouk respectively whereas property along Al Nahda and Al khan commuter belt, reported just 1% decline in rental rates as compared to Q1.
The price of residential property in Sharjah is also under pressure with few high-rise areas performing better than others. With the prices rising in Dubai, Sharjah has emerged as the cheap destination to live in the UAE. The year 2012 was started with a positive note about the sector but the results of Q2 have reversed the static trend of previous 2 quarters because of the introduction of tougher tenancy rules.
If you are looking forward to investing in UAE real estate, I would recommend you to prefer investing in Dubai properties. This is because the worst times are now over and recovery is going momentum in this emirate. Times are near when Dubai property prices would roar back to their original position and offer high capital gains and ROI.
If you want to ask anything else, please feel free to ask anytime!
298 days ago
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