Bayut and dubizzle’s Sharjah real estate market report Q1 2022
With the first quarter of the year wrapped up, it’s time to look at how the property market fared in Sharjah over the last few months. Analysis of Bayut and dubizzle’s Sharjah real estate market report Q1 2022 has revealed that the real estate trends in the UAE’s cultural capital continued to exhibit a fair amount of stability, in line with the trends observed through most of 2021. The appealing prices, family-friendly amenities and proximity to many emirates, small and big, have resulted in Sharjah continuing to sustain the interest of both tenants and property buyers.
To determine the state of the market during the last quarter, we have compared the property prices in Sharjah for Q1 2022 to those observed in Q4 2021.
Rental prices in some of the most-searched-for neighbourhoods in Sharjah have largely remained stable, although certain areas have displayed price appreciations of up to 9%. Moving onto the property sales side of things, moderate price increases of under 2% were recorded in the first quarter of 2022. For further insights into the property price trends in this family-friendly emirate, let’s now take an in-depth look at Bayut & dubizzle’s Sharjah real estate market report for Q1 2022.
Disclaimer: This Sharjah market report is based on property prices promoted by real estate agencies on behalf of Bayut & dubizzle (excluding room share). They are not representative of actual real estate transactions in the emirate.
Property prices in Sharjah Q1 2022: Buying apartments
Al Khan, Al Majaz and Al Nahda have been the most popular areas to buy apartments in the first quarter of 2022. These established areas continue to prove attractive to both buyers and tenants, due to the convenient lifestyle they provide. Additionally, these areas appeal to investors interested in buying affordable real estate closely located to the emirate of Dubai.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021 | 1-BED | 2-BED | 3-BED |
|---|---|---|---|---|---|
| Al Khan | ROI 3.54% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 1-BED
| 2-BED
| 3-BED
|
| Al Majaz | ROI 6.26% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 1-BED
| 2-BED
| 3-BED
|
| Al Nahda | ROI 5.39% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 1-BED
| 2-BED
| 3-BED
|
| Al Taawun | ROI 5.85% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 1-BED
| 2-BED
| 3-BED
|
| Al Muwaileh | ROI 2.73% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 1-BED
| 2-BED
| 3-BED
|
Al Khan is the most popular area for buying apartments – Bayut & dubizzle Sharjah property market analysis Q1 2022
As per the collective data gathered from Bayut & dubizzle for the Sharjah real estate market report Q1 2022, Al Khan has continued to attract the most interest from buyers in search of apartments for sale in Sharjah. The high demand could be attributed to the steady interest for waterfront accommodations in the third largest emirate of the UAE. The area has experienced a slight dip of 1.18% in the price-per-square-foot, with the average going from AED 818 in Q4 2021 to AED 808 in Q1 2022.
Those looking to buy 1-bed apartments in Al Khan have seen average prices of AED 527k during Q1 2022. The average asking price has stood at AED 800k for a 2-bed flat in the area, whereas the price for a 3-bedroom apartment for sale in Al Khan has averaged at AED 1.19M.
Al Majaz has been the next most popular area with buyers keen on apartments for sale in Sharjah according to the data gathered for Bayut & dubizzle’s report for the Sharjah property market Q1 2022. The price-per-square-foot in the area has experienced a 0.33% increase, to average at AED 368 in Q1 2022.
The average sales price to buy 1-bed apartments in Al Majaz has stood at AED 340k. To buy 2-bed apartments in Al Majaz, investors have paid AED 559k on average. In contrast, the average cost has increased to AED 825k for the larger 3-bed flats.
Al Nahda has also attracted investors keen on purchasing apartments in the UAE’s cultural capital. The flats for sale in Al Nahda have recorded an uptick of 1.38% in the price-per-square-foot, increasing from AED 382 in Q4 2021 to AED 387 in Q1 2022. Despite the slight increase, the area offers excellent value for money, proximity to plenty of amenities aplenty and an enviable location on the Dubai-Sharjah border.
Investors looking to buy 1-bed apartments in Al Nahda have paid AED 436k, on average. The asking sales price of 2 and 3-bed flats in the area has averaged at AED 471k and AED 779k, respectively.
Aside from the three aforementioned areas, buyers have also focused on Al Taawun and Muwaileh for apartment sales in Sharjah.
Al Majaz has the highest ROI for apartments in Sharjah
Amongst the most searched for areas, Al Majaz has reported the highest ROI in Sharjah for Q1 2022, with projected rental yields averaging at 6.26%. Buyers keen on healthy returns can also consider apartments in Al Taawun, which offer projected returns of 5.85%.
Real estate prices to rent flats in Sharjah
Al Nahda, Muwaileh and Al Majaz have been the most preferred areas for rental flats in Sharjah based on Bayut & dubizzle’s Sharjah real estate market report Q1 2022. To evaluate the rental costs in an area, we have compared the average rents of each unit from Q1 2022 to Q4 2021.
POPULAR AREAS | STUDIOS Avg. Yearly RentChange from Q4 2021 | 1-BED APTS Avg. Yearly RentChange from Q4 2021 | 2-BED APTS Avg. Yearly RentChange from Q4 2021 |
|---|---|---|---|
| Al Nahda | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
|
| Muwaileh | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
|
| Al Majaz | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
|
| Al Taawun | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
|
| Muwailih Commercial | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
|
| Al Qasimia | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
|
| Al Khan | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
|
| Abu Shagara | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
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| Bu Tina | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
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| Al Mamzar | STUDIOS Avg. Yearly RentChange from Q4 2021
| 1-BED APTS Avg. Yearly RentChange from Q4 2021
| 2-BED APTS Avg. Yearly RentChange from Q4 2021
|
Al Nahda is the top area to rent flats in Sharjah: Bayut & dubizzle Sharjah property market analysis 2022
Al Nahda has continued to be the top choice for apartment rentals in Sharjah during Q1 2022. Its strategic location and competitive rents have consistently made it a popular option for prospective tenants.
Compared to Q4 2021, the rents in Al Nahda have remained competitive. While studios have shown an increase of 3.57% in rent, the costs of 1 and 2-bedroom rental flats have declined by 8.32% and 4.78%, respectively.
Studio apartments for rent in Al Nahda have averaged AED 16k in the first quarter of 2022. Meanwhile, the price of 1-bed apartments has remained competitive at AED 19k, on average. Potential tenants searching for more spacious units should note that asking rents for 2-bed flats in Al Nahda have averaged at an annual rent of AED 27k in Q1 2022.
The second most popular area to rent flats in Sharjah has been Muwaileh. Studios for rent in Muwaileh have remained affordable, with no changes in asking rents recorded during Q1 2022. For studios for rent in Muwaileh, the asking price has averaged at AED 12k. Similarly, a 1-bed flat for rent in Muwaileh has been priced at AED 20k on average. For a 2-bed apartment, tenants have paid an average rent of AED 31k.
Those interested in renting apartments in the country’s cultural capital have also shown interest in properties in Al Majaz. Scenic waterfront views, a host of eateries and a bustling urban environment make it a popular option for families.
Compared to the fourth quarter of 2021, the prices of apartments for rent in Al Majaz have remained stable for all major bed types during Q1 2022. The average asking price to rent studios in Al Majaz has stood at AED 16k. The average cost for 1-bed flats for rent in Al Majaz has also remained unchanged at AED 23k. For 2-bed apartments for rent in Al Majaz tenants have paid rent of AED 33k on average.
Other popular areas to rent apartments in the emirate have included Al Taawun, Muwailih Commercial, Al Qasimia, Al Khan, Abu Shagara, Bu Tina and Al Mamzar. The rents in those areas have generally remained stable, although some bed types have experienced decreases of up to 10%.
Sharjah real estate market report Q1 2022: Top areas to buy and rent villas
The next section of the Bayut & dubizzle Sharjah real estate market report 2022 analyses tenant and investor preferences for villas in the emirate.
BUYING VILLAS | RENTING VILLAS |
|---|---|
BUYING VILLAS Hoshi | RENTING VILLAS Al Tai |
BUYING VILLAS Al Tai | RENTING VILLAS Al Jazzat |
BUYING VILLAS Muwaileh | RENTING VILLAS Sharqan |
BUYING VILLAS Al Rahmaniya | RENTING VILLAS Barashi |
BUYING VILLAS Al Gharayen | RENTING VILLAS Al Rifah |
BUYING VILLAS Al Goaz | RENTING VILLAS Muwaileh |
BUYING VILLAS Sharqan | RENTING VILLAS Al Azra |
BUYING VILLAS Al Suyoh | RENTING VILLAS Al Nekhailat |
BUYING VILLAS Barashi | RENTING VILLAS Hoshi |
BUYING VILLAS Al Yash | RENTING VILLAS Al Sabkha |
Hoshi is the most searched area with villas for sale in Sharjah in Q1 2022
Our Sharjah real estate market report Q1 2022 reveals that investors interested in buying villas in Sharjah have focused more on Hoshi in the first quarter of 2022. The area’s proximity to the Sharjah-Dubai border is a major factor in the sustained interest among investors. When it comes to buying 3-bed villas in Hoshi, buyers have paid AED 1.54M on average. Landlords have listed 4-bed villas for sale in Hoshi at an average asking price of AED 2.06M, whereas 5-bed villas for sale in Hoshi have recorded an average price of AED 3.27M in Q1 2022.
Al Tai ranked second on the list of popular areas for villa sales in Sharjah. The price of large 3-bed villas for sale in Al Tai has averaged at AED 1.28M during 2022’s first quarter. Prices for 4 and 5-bed villas in the area have increased to average at AED 2.13M and AED 3.28M, respectively.
Muwaileh has also emerged as a favourite for investors interested in houses for sale in Sharjah. Its location on the outskirts of the emirate close to Sheikh Mohammed Bin Zayed Road (E311) explains the area’s allure for buyers. The average sales price for buying 3-bed villas in Muwaileh has stood at AED 1.52M. For 4-bed villas, buyers have paid an average of AED 2.03M. Meanwhile, the larger 5-bed villas for sale in Muwaileh have been purchased for AED 3.13M on average.
Other locations that have attracted investors for villa properties have been Al Rahmaniya, Al Gharayen, Al Goaz, Sharqan, Al Suyoh, Barashi and Al Yash.
Muwaileh has the highest ROI for villa sales in Sharjah
When it comes to a healthy returns on investment, Muwaileh and Al Goaz have come up on top with projected rental yields of 7.15% and 5.66%, respectively. Other areas with good rental yields in Sharjah include Hoshi, Al Tai, Sharqan and Al Yash.
Al Tai is the most popular area with villas to rent in Sharjah
According to the combined data gathered from Bayut & dubizzle, Al Tai has been a firm favourite for renting villas in Sharjah during Q1 2022. The well-established district is prized for its location right next to Emirates Road, as well as a myriad of convenient amenities.
The average starting price of 3-bed villas for rent in Al Tai has stood at AED 82k. The 4 and 5-bed units have averaged at AED 108k and AED 119k, respectively, during Q1 2022.
Coming in second for popular areas for villa rentals in Sharjah is Al Jazzat. The residential area’s location close to the Sharjah-Ajman border makes it an ideal option for tenants who need to commute between the two emirates regularly. The starting price of villas for rent in Al Jazzat has averaged at AED 47k for 3-bed villas.
Also attracting tenant interest in Sharjah for villa rentals is Sharqan. The luxurious community offers a variety of nearby dining options, educational institutes, beaches and clinics, making it a perfect choice for families. The villas for rent in Sharqan have average rents ranging from AED 85k to AED 110k.
Apart from the aforementioned areas, other locations that have attracted tenant interest in villa rentals in Sharjah include Barashi, Al Rifah, Muwaileh, Al Azra, Al Nekhailat, Hoshi and Al Sabhka.
Sharjah Real Estate Market Report Q1 2022: Top off-plan projects in Sharjah
AREA | PROJECT | PROPERTY TYPE |
|---|---|---|
AREA Muwaileh | PROJECT Al Zahia | PROPERTY TYPE Townhouses, apartments, villas |
AREA Aljada | PROJECT Nest Student Accommodation | PROPERTY TYPE Apartments |
AREA Al Tai | PROJECT Masaar | PROPERTY TYPE Villas and townhouses |
The emirate’s off-plan market has continued to boast attractive options for potential investors. The most popular among these in Sharjah Q1 2022 has been Al Zahia in Muwaileh. From abundant retail options to high-quality facilities, the development is expected to offer community living at its best.
Another sought-after off-plan sales project in Sharjah is the upcoming Nest Student Accommodation complex in Aljada. The student-exclusive development by Arada will come with perks like an edutainment centre and technological spaces. All of which are expected to make it a tempting prospect for buyers.
Masaar in Al Tai is another area boasting off-plan projects. The area will feature eight communities upon completion, with promised facilities including a fitness centre, nursery school and more.
That concludes Bayut & dubizzle’s Sharjah real estate market report Q1 2022. As is apparent in the report, the stability in the emirate’s property sector has continued to benefit both tenants and investors.
To learn about rental costs in other major emirates, check out the rental trends in Dubai for Q1 2022. Alternatively, learn about the prevailing property prices in the same emirate with sales trends in Dubai Q1 2022.
