Sharjah is an up-and-coming market for global real estate investors looking at the UAE property market. The city offers an exciting range of real estate options for everyone. This includes areas for expat property investment in Sharjah real estate. There are plenty of new developments being launched across the city as the UAE’s cultural capital prepares to meet the rising housing demands of the region 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 Expats Buy Property in Sharjah?
It was in 2014 that the government of Sharjah made landmark reforms to the real estate ownership laws pertaining to expat property investment in Sharjah. 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 foreigners to buy properties in Sharjah is restricted to certain areas – the specific areas for expat property investment in Sharjah city.
Best Areas for Expat Property Investment in Sharjah
Apartments, Townhouses, Villas, Duplexes
Residential Plots and Commercial Land
If you’re an foreign investor interested in buying properties in Sharjah, here’s an insight into the best areas for investment. You can choose between apartments, townhouses, villas, duplexes and even residential plots – 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 for foreign real estate investment in Sharjah 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 has emerged as the hottest real estate destination in Sharjah. Offering an ideal combination of work, entertainment, retail, recreation and living standards, this unique urban community has successfully attracted expat investment in Sharjah real estate.
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 120k. For those of you who wish to explore something other than buying townhouses in Aljada, the extensive range of Aljada apartments for sale is another attractive option.
You can buy studio apartments in Aljada at a starting price of AED 230k. Starting price for 2 bed flats in Aljada is AED 670k and 3-bed apartments will cost you at least AED 1.2M. Villas for sale in Aljada have a starting price of 1.2M.
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, partially completed, has everything you need as a foreign investor to make sure your property picks maximum returns.
Next on our list of top areas for property investment in Sharjah by foreigners, 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 that brings you a whole new range of apartments for sale in Sharjah. The area also has unique architecture, retail spaces and entertainment districts that 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 Nationals 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 330k. Starting price for a 2-bed luxury apartment is AED 740k.
AMENITIES IN AL MAMSHA
Ideally located only minutes away from the Sharjah International Airport, Al Mamsha in Muwaileh is definitely one of the best areas for foreign investors 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 still be a high demand to rent properties in Al Mamsha thanks to these conveniences.
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 land 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.
In case you’re wondering what makes this development rank among the top areas for expat real estate investment in Sharjah – here’s what you need to know. Tilal City has five distinct divisions that include residential, commercial, entertainment and retail offerings.
The development has an expected ROI of up to 10% with both freehold and leasehold options.
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 land.
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 has ample space for lifestyle facilities and amenities. There are detailed retail belts including independent outlets and a mega-shopping mall.
The changes in Sharjah’s legislation have retracted the UAE residence visa requirement for expat investors who are interested in buying properties in Sharjah. This has opened avenues for expat property investment in Sharjah. It’s no surprise that Sharjah lately has become a lucrative destination for foreign real estate investment in the UAE.
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 profitable 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.
For investors looking at larger residential properties, the best villa communities in Sharjah offer a diverse portfolio of houses that offer great returns on investment.
To keep up with the market trends and real estate news in Sharjah and the rest of the UAE, stay tuned to MyBayut.