Ajman is the smallest of all seven emirates, yet under the rule of His Highness Sheikh Humaid bin Rashid Al Nuaimi, member of the Supreme Council and the ruler of Ajman, the city’s economy and infrastructure have been marked by steady growth. The Ajman real estate market is particularly active due to an influx of brand-new developments in the countdown to Expo 2020. The time is right for investors to take advantage of the competitive prices yet high-profit margins of Ajman property.
Bayut brings you a full disclosure on the sales trends for both flats and villas in Ajman, whether you’re an investor or a homebuyer.
IS AJMAN A FREEHOLD AREA?
One of the many questions real estate agents get when it comes to Ajman is whether the emirate is a so-called ‘freehold’ area or not. The truth is, Ajman was the third emirate to start offering ‘freehold’ properties well over a decade ago (2005) – after Dubai and Ras Al Khaimah and before its neighbouring emirate of Sharjah.
Ajman lies on the west coast of the UAE and takes up the central spot among the Northern Emirates.
Getting to Dubai is a 40-minute commute via Sheikh Mohamed bin Zayed Road. Another option is to take the Sheikh Zayed Road, which takes 50 minutes due to more traffic.
From Ajman to Sharjah, it’s roughly a 20-minute drive, as is getting into Umm Al-Quwain. Reaching Ras Al Khaimah takes 35 minutes.
Slightly further away are Abu Dhabi (2h 15 min) and Fujairah (1 h and 20 min).
TYPES OF VILLAS IN AJMAN FOR SALE?
The emirate of Ajman is full of affordable villas, as well as apartments and offices, although its cityscape is mostly made out of villas and townhouses.
The most popular type of property is 5-bedroom villas with prices starting from AED 1.2M on average, followed by 4-bedroom villas at roughly AED 1M. There are also 3-bedroom villas available for sale, as well as 6-beds, 7-beds and higher.
As always, the average prices depend on the property location. More affordable villas can be purchased in Ajman Uptown, for example in the newly-developed Emirates City project by Sweet Homes developer and agency. This community is located north of Ajman City centre and offers 2 or 3-beds for sale at AED 700,000 average price.
Here is a full overview of the most sought-after areas and average prices in 2017 when it comes to villas in Ajman for sale this year, according to Bayut’s Data Team:
TYPES OF APARTMENTS IN AJMAN FOR SALE?
Ajman is a particularly fruitful market when it comes to affordable apartments. Studio units in Ajman start at an extremely low price of AED 250,000.
However, the most common type of property in Ajman is the 1-bed unit. The property type is popular among all types of home seekers – singletons, young couples or small families. Prices start from AED 540,000 on average.
Apartments with more luxury amenities can be found in Ajman 1 Towers or Corniche Towers. These are serviced apartments located in buildings that are fully equipped with a pool and a gymnasium. Some of the other popular options include flats in Pearl Towers, Horizon Towers and Falcon Towers.
Here is a breakdown of the most sought-after areas and average property prices in 2017 when it comes to apartments for sale in Ajman.
The majority of the community is made up of Arab nationals – Egyptian, Syrian, Jordanian, Palestinian, and others. The next population group by size is South Asian expats (Indian, Pilipino, Pakistan), followed by locals. However, there are many Westerners in the emirate as well, many of whom commute to Dubai on a daily basis.
Ajman is predominantly a family-friendly emirate, almost to the extent to which Sharjah is suitable for family living. At the same time, the city is just as suitable for singletons or young couples who prefer to live their life away from the hustle and bustle of larger emirates.
Most companies s in Ajman work in two shifts – from 9AM-1PM and 4PM-9PM.
The rest of the time is spent on leisure activities. The emirate has several pristine beaches that rival Dubai’s finest. Corniche Road on the coast is particularly popular among residents due to many restaurants, cafes and venues offering many Arabs’ favourite pastime – sheesha.
Furthermore, Ajman offers a plethora of shopping malls, such as the Ajman City Centre, Ajman China Mall, and others.
Some of the other popular hangouts and places of worship include the Ajman Museum, the Rashidiya Ladies Park and a large mosque, the Ajman Sheikh Zayed Mosque.
Homebuyers who value good health facilities should note that the Ajman Saudi German medical city will be opening soon on the Sheikh Ammar street. This hospital centre is expected to be even larger than the Dubai Saudi German medical centre. Many big universities are opening in Ajman soon too, such as the City University on Sheikh Ammar street (next to the Saudi German medical centre). In these areas, property prices are predicted to rise in the upcoming years so early purchase is advisable.
Ajman is also a tourist attraction with many superb hotels, such as Kempinski Hotel Ajman, Ajman Saray, The Bahi Ajman Palace, Ramada Beach hotel, Fairmont, and others. These hotels have first-class amenities, gorgeous swimming pools and licensed bars – all of which are open to paying visitors.
WHY SHOULD YOU INVEST?
Ajman is still under development in many aspects, so the prices of most projects will remain low in the near future. If you buy a property in Ajman now, as opposed to closer to Expo 2020, you’ll be able to rake up the high-profit margins through reselling in just a few years or enjoy stable returns on investment through subletting.
Furthermore, the Ajman Land Department continues to improve the level of real estate regulations in Ajman in order to keep up with the influx of property developments.
Ajman may be a small emirate, looking at its territory alone. But that does not hinder its grand ambitions. The emirate already offers many beaches, schools, coffee shops, and so forth, while its future of the infrastructure is looking even brighter.