Sharjah is an up-and-coming market for global real estate investors looking at the UAE property market. The city offers real estate options for everyone. This includes areas for foreigners to invest in Sharjah real estate. There are plenty of new developments sprouting up across the city as this incredible community gears to take on the future with sustainable and appealing concepts of community living.
Until recently, however, it was not possible for foreigners to buy property in Sharjah without a residency visa. All that has changed now.
Can Foreigners Buy Property in Sharjah?
It was in 2014 that the government of Sharjah made landmark reforms to the real estate ownership laws in the emirate. The initial amendments made to the law allowed non-GCC members to buy real estate in Sharjah as long as they had a valid residency visa. However, foreign investors could purchase only up to five properties.
In a more recent change of law, it is now possible for overseas investors to purchase real estate in Sharjah, without a residency visa. Although, keep in mind that this freedom for expats to buy properties in Sharjah is restricted to certain areas – the specific areas for foreigners to invest in Sharjah city.
Best Areas for Foreigners to Invest in Sharjah
If you’re an expat investor interested in buying properties in Sharjah, this is where you can get an insight into the best areas for investment. You can choose between apartments, townhouses, villas and duplexes – depending on your budget, preferences, and lifestyle. While the law in Sharjah still doesn’t allow expats to own freehold properties in the emirate, you can find long-term leasehold properties in Sharjah in the areas listed below. The property lease granted to foreigners can be for a maximum of 100 years.
These are, according to search trends on Bayut, the top areas for foreigners to invest in Sharjah.
Located near Sharjah Airport International Free (SAIF) Zone and University City, Aljada is quickly emerging as the hottest real estate destination in Sharjah. Offering an ideal combination of work, entertainment, retail, recreation and living standards, this unique urban community is definitely worth being among our top areas for foreigners to invest in Sharjah.
Properties in Aljada
Promoting an active lifestyle, Aljada by Arada promises luxury living at affordable prices. When investing in residential properties, you can choose from penthouses, townhouses, villas and high-end apartments.
This is one of the best areas to buy affordable townhouses in Sharjah, with a 2-bedroom villa in Aljada costing around AED 900k. For those of you who wish to explore something other than buying townhouses in Aljada, the extensive range of apartments is another attractive option.
You can buy studio apartments in Aljada at a starting price of AED 240k. Starting price for 2 BHK flats in Aljada is AED 370k and 3 BHK apartments will cost you at least AED 1.3M. Villas for sale in Aljada have a starting price of 899k.
Amenities in Aljada
Aljada is designed for stress-free living with amenities and facilities that support this lifestyle. The area offers schools, mosques, clinics, outdoor sports facilities, a library, a civil defence centre, a post office, and even hotels and offices as part of its premises. This well-appointed community, still in the construction phase, has everything you need as a foreign investor to make sure your property picks maximum returns.
Next on our list of top areas for foreigners to invest in Sharjah, is the mixed-use community of Al Mamsha. Integrating modern living with contemporary lifestyle elements of leisure and retail, Al Mamsha is a vibrant urban development still undergoing construction to bring you a whole new range of apartments for sale in Sharjah. The area is marked with unique architecture, active retail, walkable spaces and entertainment districts that combine to create an attractive living environment.
Properties in Al Mamsha
Offering contemporary and high-quality residential choices, this community in Muwaileh is designed for everyone. While GCC residents can buy apartments in Al Mamsha on a freehold basis, long-term leasehold properties are available for non-GCC residents.
The community boasts luxury apartments in 1, 2, and 3-bed variations. Studio apartments are also available in a variety of floor plans to meet the varying needs of Sharjah real estate customers. If you’re looking to invest in something bigger, Al Mamsha has 2 and 3-bedroom duplex apartments with gardens and private terraces.
Whether you’re a resident or an expat living in the UAE, looking to buy affordable flats in Sharjah – Al Mamsha is a great option to invest in. You can easily purchase a luxury studio apartment in Al Mamsha for prices as low as AED 320k. Starting price for a 2-bed luxury apartment is AED 850k.
Amenities in Al Mamsha
Ideally located only minutes away from the Sharjah International Airport, Al Mamsha in Muwaileh is definitely one of the good areas for foreigners to invest in Sharjah. The project enjoys a prime location close to the University City that houses the American University of Sharjah, Skyline University College and other top universities in Sharjah.
While the location is excellent, the development itself offers wide-ranging community amenities and facilities. Investing here gives you access to retail outlets, entertainment centres, nurseries, schools, and a kids’ play area. Swimming pools, high-tech gymnasiums and health club facilities are also available. Even if you don’t choose to live here, there will be a high demand to rent properties in Al Mamsha thanks to these conveniences.
The latest addition to areas with off-plan properties in Sharjah, Tilal City, is an investors’ haven. This first-of-its-kind development provides you with a never-before opportunity to buy land in Sharjah and build your property on it. While GCC Nationals can purchase property here on a freehold basis, foreign investors in Sharjah can obtain it on a 100-year lease.
This mixed-use development is spread over an area of 25 million sq. ft. Located on Emirates Road E611, Tilal City is Sharjah’s first ever master-planned community, designed for conducive community living. Once complete, the project will be home to more than 65,000 people.
In case you’re wondering what makes this development rank among the top areas for foreigners to invest in Sharjah state – here’s what you need to know. Tilal City has five distinct divisions that include residential, commercial, entertainment and retail offerings. For expats interested in buying 100-year leasehold residential properties in Tilal City, options include townhouses, apartments, and villas.
The availability of choice, however, is only a start to the benefits you can derive even as a foreign investor. The development has an expected ROI of up to 10% with both freehold and leasehold options. It doesn’t matter what nationality you are, you can still own property in Tilal City with complete infrastructure.
There is no community or maintenance fee attached to the plots available for sale; and besides residential, you can even choose to invest in mixed-purpose properties, schools, nurseries or the provision of community facilities.
Amenities in Tilal City
The popularity of an area in terms of living and investing is highly influenced by the facilities available in and around it. Similar to the areas mentioned above for foreigners to invest in Sharjah, the Tilal City master plan includes ample space for lifestyle facilities and amenities. There are detailed retail belts including independent outlets and a mega-shopping mall. Restaurants and cafes alongside schools, parks, clinics, mosques and other shared facilities promise a luxurious lifestyle.
Regardless of the area you choose as foreigners to invest in Sharjah, one thing is absolutely certain – the emirate has a stable real estate market. There are other projects as well where you can invest in Sharjah real estate, but make sure you study the trends and returns on them.
The latest changes in Sharjah’s legislation have retracted the UAE residence visa requirement for foreign investors who are interested in buying property for sale in Sharjah. This has opened avenues of real estate investment for expats in Sharjah. It has also eliminated the need for evaluating the real estate market. It wouldn’t be a surprise if Sharjah begins to attract a good chunk of UAE foreign investment in the coming years.
For anyone who wishes to buy luxury apartments in Sharjah or any other property, projects like Aljada, Tilal City and Al Mamsha open great prospects of a comfortable lifestyle and lucrative investments. The market is promising, but it will still be a while before more areas for foreigners to invest in Sharjah pop up around the city.
To keep up with the market trends and real estate news in Sharjah and the rest of the UAE, stay tuned to MyBayut.