Bayut’s Ajman annual market report for 2022
Looking back, it’s more than fair to describe 2022 as a stable year for the Ajman real estate market. Some growth was observed in certain areas of the emirate’s property market, whereas some localities reported a downward trend in prices. For Bayut’s Ajman Market Report for 2022, we have analysed the sales and rent trends to offer you a clear picture of how the industry fared last year.
A look at the data accumulated by Bayut during 2022 reveals that:
- The average sales price-per-square-foot decreased slightly for apartments in Ajman, whereas rental costs have remained largely unchanged.
- With regard to villas, sales prices have generally increased, while rental villas became slightly cheaper.
For the Ajman annual property market report, data analysts at Bayut have compared search and price trends from 2022 with those recorded in 2021.
Please note that these prices are subject to change based on multiple factors, including amenities available, the developer involved in the project, respective locations and other key details.
AJMAN MARKET REPORT FOR 2022
It wouldn’t be wrong to term 2022 as a year of recovery for the UAE real estate sector. The market recovered significantly after a pandemic-inflicted downturn and interest from investors stayed strong throughout the year. Also, the demand for properties substantially increased during the past year.
Our detailed Ajman annual market report details the sales and rental trends observed for apartments and villas.
AJMAN DOWNTOWN IS THE MOST POPULAR AREA TO BUY APARTMENTS IN THE EMIRATE
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021 | 1-BED | 2-BED | 3-BED |
|---|---|---|---|---|---|
| Ajman Downtown | ROI 10.03% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Emirates City | ROI 9.94% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Al Nuaimiya | ROI 5.94% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Corniche Ajman | ROI 6.44% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Al Sawan | ROI 6.93% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Al Rashidiya | ROI 9.36% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Garden City | ROI 9.17% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Al Bustan | ROI 4.88% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Sheikh Maktoum Bin Rashid Street | ROI 5.29% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Al Ameera Village | ROI N/A | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2021
| 1-BED
| 2-BED
| 3-BED
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||||
As per the data analysed over the past 12 months, Ajman Downtown stood out as the most in-demand area for buying apartments:
- The average price-per-square-foot for flats for sale in Ajman Downtown went down by 8.68% to average at AED 187.
- To buy a 1-bed unit in Ajman Downtown, investors paid AED 210k on average. The sales prices averaged at AED 291k and AED 366k for 2 and 3-bed flats, respectively.
Our analysis for the Ajman market report for 2022 showed that Emirates City was the second most popular area to look for apartments for sale.
- For flats for sale in Emirates City, the average price-per-square-foot dropped by 4.10% to AED 168.
- Those interested in buying a flat in Emirates City paid AED 162k on average for a 1-bed flat. The average financial outlay for 2 and 3-bed flats stood at AED 221k and AED 259k, respectively.
As per the Ajman property market report data, other popular areas for the sale of flats included:
- Al Nuaimiya
- Corniche Ajman
- Al Sawan
- Al Rashidiya
- Garden City
- Al Bustan
- Sheikh Maktoum Bin Rashid Street
- Al Ameera Village
From this list, most areas saw a drop of between 4% and 30% in the average sale price-per-square-foot. The most significant dip was observed in the prices for apartments in Al Rashidiya, with landlords pricing their properties competitively to attract buyers.
AJMAN ANNUAL MARKET REPORT FOR 2022: ROI FOR AJMAN DOWNTOWN RANKED THE HIGHEST
Unsurprisingly, given the area’s popularity, Ajman Downtown recorded the highest ROI:
- The projected ROI for Ajman Downtown averaged at 10.03%.
- Emirates City was only slightly behind with 9.94% average rental yields.
- Al Rashidiya and Garden City also registered ROIs of more 9%.
AL NUAIMIYA IS THE MOST POPULAR AREA TO RENT APARTMENTS IN AJMAN
POPULAR AREAS | Studio Avg. Yearly RentChange from 2021 | 1-BED Avg. Yearly RentChange from 2021 | 2-BED Avg. Yearly RentChange from 2021 |
|---|---|---|---|
| Al Nuaimiya | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Al Rashidiya | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Ajman Downtown | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Al Rawda | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Al Jurf | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Corniche Ajman | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Emirates City | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Al Sawan | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Al Mowaihat | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Garden City | Studio Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||
Data analysed for the Ajman property market report showed that Al Nuaimiya was the preferred choice for those interested in flats for rent:
- The asking prices for apartments for rent in Al Nuaimiya remained the same compared to 2021.
- For a studio, tenants paid around AED 14k. For larger 1 and 2-bed apartments, the average rent was recorded at AED 19k and AED 28k per annum.
Al Rashidiya ranked second on the list of popular localities to rent flats according to the Ajman market report for 2022:
- There was a 4.95% drop in the asking price for studios. Alternatively, 2-bed flats saw an increase of 3.26% in average rents. There was no price change reported for 1-bed flats.
- Those searching for rental studios in Al Rashidiya can expect to pay an average of AED 14k. When considering 1 and 2-bed apartments, the financial outlay averaged at AED 19k and AED 28k, respectively.
During the year, potential tenants also showed keen interest in apartments for rent in the following areas:
- Ajman Downtown
- Al Rawda
- Al Jurf
- Corniche Ajman
- Emirates City
- Al Sawan
- Al Mowaihat
- Garden City
THE MOST POPULAR AREAS TO BUY AND RENT VILLAS IN AJMAN
BUYING VILLAS | RENTING VILLAS |
|---|---|
BUYING VILLAS Al Yasmeen | RENTING VILLAS Al Rawda |
BUYING VILLAS Al Zahya | RENTING VILLAS Al Mowaihat |
BUYING VILLAS Al Rawda | RENTING VILLAS Al Yasmeen |
BUYING VILLAS Al Mowaihat | RENTING VILLAS Al Nuaimiya |
BUYING VILLAS Ajman Uptown | RENTING VILLAS Al Zahya |
BUYING VILLAS Al Alia | RENTING VILLAS Musherief |
BUYING VILLAS Al Helio | RENTING VILLAS Al Hamidiyah |
BUYING VILLAS Al Zorah | RENTING VILLAS Ajman Uptown |
BUYING VILLAS Al Hamidiyah | RENTING VILLAS Al Raqaib |
BUYING VILLAS Al Tallah 2 | RENTING VILLAS Al Jurf |
Statistical analysis for the Ajman property market report highlighted that Al Yasmeen garnered the most interest from investors looking to buy villas in Ajman:
- The average sales price for 3 and 4-bed villas in the area stood at AED 1M and AED 1.16M, respectively. To buy a 5-bed villa in Al Yasmeen the average investment required was AED 1.25M.
Al Zahya was another popular area to buy villas in Ajman:
- The average price for a 3-bed villa in Al Zahya was recorded at AED 952k. It increased to AED 1M and AED 1.2M for 4 and 5-bed villas.
Other areas offering villas which saw keen interest from buyers included:
- Al Rawda
- Al Mowaihat
- Ajman Uptown
- Al Alia
- Al Helio
- Al Zorah
- Al Hamidiyah
- Al Tallah 2
AL ALIA OFFERS THE HIGHEST ROI ON VILLAS IN AJMAN
Our analysis for the Ajman market report for 2022 highlighted Al Alia as the area offering the highest ROI for villas in Ajman:
- Buy-to-let villas in Al Alia offered a highly impressive ROI of 13.50%.
- Ajman Uptown, with 7.55% rental returns, was second on the list.
- Rounding off the ROI chart was Al Zorah with a 6.47% return.
POPULAR AREAS TO RENT VILLAS IN AJMAN: AL RAWDA LEADS THE SEARCHES
During 2022, Al Rawda was the most popular area to rent villas in Ajman:
- To rent a 3-bed villa, the financial outlay averaged at AED 55k. Tenants paid around AED 62k and AED 79k for 4 and 5-bed units.
Many potential tenants also considered Al Mowaihat to rent villas in Ajman:
- To rent 3 and 4-bed villas, the average outlay was AED 57k and AED 65k, respectively. Whereas the average rent stood at AED 84k for a 5-bed villa.
According to the trends analysed for the Ajman property market report, other popular areas to rent villas in the emirate included:
- Al Yasmeen
- Al Nuaimiya
- Al Zahya
- Musherief
- Al Hamidiyah
- Ajman Uptown
- Al Raqaib
- Al Jurf
AJMAN MARKET REPORT FOR 2022: OFF-PLAN PROJECTS
There was considerable interest observed for off-plan properties in Ajman. The Fairways in Al Zorah was extremely popular with investors considering off-plan villas. Dahlia villas in Ajman Uptown and Al Rawda 3 in Al Rawda also attracted significant interest.
As for off-plan apartments, Al Rashidiya 1 in Al Rashidiya, Al Aamra Tower in Al Amerah and Emirates City Tower in Emirates City garnered the most buyer interest in 2022.
This concludes our Ajman market report for 2022. Looking to invest in the Ajman property market? After such a stable year for the emirate’s real estate sector, now might be the perfect time to do so.
For those considering buying properties in Dubai, our Dubai annual sales market report has all the details.
Stay tuned to MyBayut to get key insights about the UAE’s property market.
Disclaimer: The above report (MKTT RPT YE 2022) is based on prices advertised by real estate agencies on behalf of their clients on Bayut and does not represent actual real estate transactions conducted in Ajman.
