Wednesday, May 22, 2024

Sharjah Real Estate Records a 6-Year High in 2023, Reflecting Growing Investor Interest

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Sharjah’s Real Estate Market Hits New Milestone

Sharjah’s real estate sector has reached a significant peak in 2023, experiencing its most active year since 2017. The surge in property transactions, amounting to Dh27 billion, underscores an increasing investor interest, signaling confidence in the emirate’s market stability and growth potential.

A Closer Look at the Market Dynamics

The Sharjah Real Estate Registration Department reported a 13% increase in transaction volume, a clear indication of the market’s strength and versatility. This expansion reflects not just in the volume of transactions but also in the diversity of investors, which now spans 103 nationalities—a 21% increase from the previous year.

Diversity and Growth in Investments

The diversity in the investor base is particularly noteworthy, with a significant uptick in non-Arab foreign investors, indicating a broadening appeal of Sharjah’s real estate. Mortgages also showed robust growth, totaling Dh7.5 billion, highlighting the healthy financing environment for property investments in the emirate.

Contributions Across Nationalities

The report detailed contributions from Gulf nationals and Arab citizens, as well as a strong showing from UAE citizens, who accounted for the majority of investments. Foreign nationals, led by Indian investors, also made significant contributions, further demonstrating the global appeal of Sharjah’s real estate market.

Sharjah’s Appeal to International Investors

The robust growth and diversity in Sharjah’s real estate market not only highlight its resilience but also its attractiveness as a key investment destination. The influx of investors from across the globe points to the emirate’s strategic initiatives to create an inviting and lucrative environment for property investments.

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