Bayut and dubizzle’s Ajman property market report Q3 2021: Prices remain stable in the third quarter of 2021
As we step into the final quarter of 2021, it’s time to assess the changes in the Ajman property market that have taken place in Q3 this year. Generally, during the third quarter, rent and sales prices have remained stable in Ajman, with some minor price fluctuations in certain neighbourhoods.
Areas such as Corniche Ajman, Al Rashidiya, Ajman Downtown, Al Jurf and Al Nuaimiya have remained popular among those looking to buy or rent villas in Ajman. Whereas for apartments, Al Yasmeen, Al Zahia, Al Jurf, Al Rawda and Al Hamidiyah have been in great demand.
For more comprehensive insights, let’s take a look at how the real estate market in Ajman has performed with Bayut & dubizzle’s Ajman Market Report for Q3 2021.
Bayut & dubizzle’s Ajman Property Market Report compares the Q3 2021 average sales price-per-square-foot with the prices from Q2 2021. These are average prices and individual properties may go for higher or lower rates depending upon multiple factors like amenities, the developer involved in the project, location and other key details.
PROPERTY PRICES IN AJMAN FOR BUYING APARTMENTS IN Q3 2021
Al Rashidiya, Ajman Downtown and Corniche Ajman have been the most popular areas to buy apartments in the third quarter of 2021.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021 | 1-BED APT | 2-BED APT | 3-BED APT |
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| Al Rashidiya | ROI 7.09% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Ajman Downtown | ROI 9.15% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Corniche Ajman | ROI 6.40% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Emirates City | ROI 9.28% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Al Nuaimiya | ROI 5.79% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Al Sawan | ROI 6.97% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Al Bustan | ROI 5.13% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Garden City | ROI 9.50% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Sheikh Maktoum Bin Rashid Street | ROI 5.12% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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| Al Yasmeen | ROI N/A | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2021
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BAYUT & DUBIZZLE AJMAN PROPERTY MARKET REPORT Q3 2021: AL RASHIDIYA IS THE MOST POPULAR AREA TO BUY APARTMENTS IN AJMAN
For the third quarter of 2021, Al Rashidiya has taken the top spot when it comes to popular areas to buy apartments in Ajman. The area has witnessed a 7% drop in the sales price-per-square-foot, with the average going from AED 307.50 in Q2 2021 to AED 284.69 in Q3 2021.
Those who wanted to buy a 1-bed apartment in Al Rashidiya have paid AED 223k, on average. The average asking price has jumped to AED 406k for a 2-bed apartment for sale in Al Rashidiya. Whereas, a 3-bed apartment for sale in Al Rashidiya is priced at AED 524k, on average.
Ajman Downtown has secured the second position when it comes to apartment sales in Ajman, experiencing a rise of 1.8% in sales price-per-square-foot in the third quarter. Despite this slight increase, this area offers excellent value for money due to its excellent location and its proximity to amenities.
The average sales price of a 1-bed flat in Ajman Downtown has stood at AED 206k. Whereas, to buy a 2-bed apartment in Ajman Downtown, investors have paid AED 308k on average. For a larger 3-bed apartment, the average cost has increased to AED 378k.
Corniche Ajman has also attracted consumer interest for apartment sales in the emirate. This area has recorded a drop in price-per-square-foot from AED 440.89 to AED 410.31 in Q3 2021. Those who wanted to buy 1-bed flats in Corniche Ajman have invested AED 605k, on average. The asking sales prices have averaged at AED 769k and AED 1.3M for 2 and 3-bed apartments in Corniche Ajman, respectively.
Besides these three areas, investors have also focussed their interest in apartments for sale in Emirates City, Al Nuaimiya, Al Sawan, Al Bustan, Garden City, Sheikh Maktoum Bin Rashid Street and Al Yasmeen.
GARDEN CITY DELIVERED THE HIGHEST ROI FOR APARTMENTS IN AJMAN
Investors keen on buying apartments in the northern emirate primarily with the aim of making a profit have reaped the best returns in Garden City that delivered a 9.5% ROI.
Emirates City and Ajman Downtown have also offered healthy returns on investments for apartments for sale in Ajman with respective projected rental yields of 9.28% and 9.15%.
According to the Bayut & dubizzle Ajman real estate market report Q3 2021, flats for sale in Al Rashidiya, Al Sawan, Corniche Ajman, Al Nuaimiya, Al Bustan and Sheikh Maktoum Bin Rashid Street have offered ROIs ranging between 5% and 7%.
AJMAN PROPERTY TRENDS FOR RENTAL APARTMENTS IN Q3 2021
Al Rashidiya, Al Nuaimiya and Al Jurf have been the top three areas to rent apartments based on the Bayut & dubizzle’s Ajman property market report Q3 2021.
BAYUT & DUBIZZLE Q3 2021 AJMAN REAL ESTATE MARKET REPORT: AL RASHIDIYA IS THE MOST POPULAR AREA TO RENT APARTMENTS IN AJMAN
POPULAR AREAS | STUDIO Avg. Yearly RentChange from Q3 2021 | 1-BED APT Avg. Yearly RentChange from Q3 2021 | 2-BED APT Avg. Yearly RentChange from Q3 2021 |
|---|---|---|---|
| Al Rashidiya | STUDIO Avg. Yearly RentChange from Q3 2021
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| Al Nuaimiya | STUDIO Avg. Yearly RentChange from Q3 2021
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| Al Jurf | STUDIO Avg. Yearly RentChange from Q3 2021
| 1-BED APT Avg. Yearly RentChange from Q3 2021
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| Al Rawda | STUDIO Avg. Yearly RentChange from Q3 2021
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| Ajman Downtown | STUDIO Avg. Yearly RentChange from Q3 2021
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| Emirates City | STUDIO Avg. Yearly RentChange from Q3 2021
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| Corniche Ajman | STUDIO Avg. Yearly RentChange from Q3 2021
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| Al Bustan | STUDIO Avg. Yearly RentChange from Q3 2021
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| Al Mowaihat | STUDIO Avg. Yearly RentChange from Q3 2021
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| Al Sawan | STUDIO Avg. Yearly RentChange from Q3 2021
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In Q3 2021, Al Rashidiya has been a firm favourite for tenants in search of rental apartments in Ajman. The combined data collected at Bayut & dubizzle for the third quarter of 2021 has shown stability in the average rents for the area. To rent a studio in Al Rashidiya tenants have paid AED 14k on average in Q3. The average rent has stabilised at AED 19k and AED 26k for 1 and 2-bed apartments, respectively. The district’s location on the Sharjah-Ajman border makes it convenient and popular among many.
Al Nuaimiya has also emerged as a popular location to rent apartments in Ajman in Q3 2021. The area has seen rental prices remain stable during the third quarter. The average rent for a studio in Al Nuaimiya has been recorded at AED 14k. Similarly, a 1-bed flat for rent in Al Nuaimiya has been priced on average at AED 19k. Whereas, for a 2-bed apartment, tenants can expect to pay AED 28k, on average.
Those looking to rent apartments in the northern emirate have also been keen on the properties in Al Jurf. This area is particularly popular among families as it has a host of educational institutes in the vicinity. Recording no changes in the average rent for the quarter, properties in Al Jurf are largely affordable. For a studio flat for rent, the asking rents have averaged at AED 13k in Q3. The rental price for 1-bedroom flats for rent in Al Jurf has averaged at AED 19k in Q3 2021. Whereas, the average rent for a 3-bed flat in Al Jurf has averaged at AED 28k.
Other popular areas to rent apartments in Ajman include Al Rawda, Ajman Downtown, Emirates City, Corniche Ajman, Al Bustan, Al Mowaihat and Al Sawan. Generally, rents here have been either stable or have decreased by up to 4%.
AJMAN PROPERTY MARKET REPORT Q3 2021: MOST POPULAR AREAS TO BUY AND RENT VILLAS IN AJMAN
The next section of our Ajman Market Report for Q3 2021 reveals buyer and tenant preferences for the villa segment.
BUYING VILLAS | RENTING VILLAS |
|---|---|
BUYING VILLAS Al Yasmeen | RENTING VILLAS Al Rawda |
BUYING VILLAS Al Zahia | RENTING VILLAS Al Jurf |
BUYING VILLAS Al Rawda | RENTING VILLAS Al Hamidiyah |
BUYING VILLAS Al Mowaihat | RENTING VILLAS Al Mowaihat |
BUYING VILLAS Al Hamidiyah | RENTING VILLAS Al Zahia |
BUYING VILLAS Al Helio | RENTING VILLAS Al Yasmeen |
BUYING VILLAS Al Zorah | RENTING VILLAS Ajman Uptown |
BUYING VILLAS Al Aaliah | RENTING VILLAS Al Nuaimiya |
BUYING VILLAS Al Bustan | RENTING VILLAS Musherief |
BUYING VILLAS Al Jurf | RENTING VILLAS Al Rashidiya |
AJMAN REAL ESTATE MARKET REPORT Q3 2021: AL YASMEEN IS THE TOP AREA TO BUY VILLAS
Those who want to invest in a villa in Ajman, have focused most of their attention on the Al Yasmeen area. When it comes to prices to buy a 3-bed villa in Al Yasmeen, buyers have paid AED 994k on average in Q3 2021. Similarly, 4-bed villas in Al Yasmeen have been listed with an average asking price of AED 1.1M. Whereas, 5-bed villas in Al Yasmeen have recorded an average selling price of AED 1.2M.
Al Zahya ranked second on the popularity list for sales villas in Ajman. A spacious 3-bed villa in Al Zahya can be purchased for an average price of AED 921k. The average sales price has respectively increased to AED 979k and AED 1.2M for 4 and 5-bed villas in the area.
Al Rawda has also emerged as a favourite for investors interested in Ajman villas for sale. Located close to the Ajman-Sharjah border, this area is popular among those who travel frequently between the two emirates. The average sales price for a 3-bed villa in Al Rawda has stood at AED 947k. For a 4-bed villa, buyers have paid an average of AED 1.4M. Those interested in buying a 5-bed villa in Al Rawda have purchased properties for AED 1.7M, on average.
Other places of interest for investors in search of villas have been districts such as Al Mowaihat, Al Hamidiyah, Al Helio, Al Zorah and Al Aaliah. Al Bustan and Al Jurf were also popular choices for buying villas in Ajman.
AJMAN MARKET REPORT Q3 2021: AL ZAHIA AND AL HELIO OFFER THE HIGHEST ROI FOR VILLAS
When it comes to ROI, Al Zahia and Al Helio have topped the list with projected rental yields of 6.46% and 6.22%, respectively.
Other areas such as Al Yasmeen, Al Aaliah, Al Mowaihat and Al Rawda have also offered good ROIs of 4% to 5%.
AJMAN MARKET REPORT Q3 2021: AL RAWDA IS THE MOST POPULAR AREA TO RENT VILLAS
Al Rawda has emerged as the top choice for tenants who wish to rent villas in Ajman. The asking rents for 3 to 5-bed villas in Al Rawda have ranged from AED 56k to AED 80k, on average.
Al Jurf has also been popular among those looking to rent villas in Ajman. A 3-bed villa for rent in Al Jurf has been priced at AED 82k, on average. Renting a 4 and 5-bed villa has cost AED 83k and AED 111k, respectively.
Al Hamidiyah has also managed to attract tenant interest for villas in Ajman. Renters have successfully found 3 to 5-bed villas in the neighbourhood with asking rents ranging from AED 70k to AED 101k.
TOP OFF-PLAN PROJECTS: AJMAN PROPERTY MARKET REPORT Q3 2021
There have been some attractive options for off-plan properties in Ajman as well. Camellia in Ajman Uptown has been the most popular project offering beautiful villas and townhouses for investors looking to diversify their property portfolios. Al Mazraa Tower in Al Amerah is another project that has garnered considerable investor interest for off-plan developments.
That concludes our Ajman property market report for Q3 2021. To learn more about the property markets in other emirates, check out the Abu Dhabi rental market report for Q3 2021 or the Dubai sales report for Q3 2021.
Disclaimer: The above report is based on prices advertised by real estate agencies on behalf of their clients on Bayut & dubizzle and is not representative of actual real estate transactions conducted in Ajman.
