The property’s value has risen 13%, becoming a hot spot. That’s why International Investors are attracted to Sharjah Real Estate. Explore the blog to learn more about the increase and tips for end-users and investors.
Changes in the Freehold Laws Sharjah Real Estate
With the recent modifications in the freehold property laws, new foreign investment is attracted to the Sharjah real estate landscape. This law opens up opportunities, increases demand, and will increase property value in Sharjah.
Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, the Crown Prince and Deputy Ruler of Sharjah presented real estate law at the Sharjah Consultative Council. The petition was to establish a rental disputes center in the Emirates.
Sharjah Consultative Council discussed it.
The law aims to regulate rental rules and create a legislative framework in tandem with the growth of cities and the demand for the real estate industry. It will streamline the government’s procedures, ensure everyone’s rights, and simplify landlords’ and tenants’ collaboration.
Aftermath Impact of Law Changes on Sharjah Real Estate
According to the Sharjah Real Department of Estate Registration, the value of real estate transactions increased across different areas and reached AED 1.7 billion by April 2024. There were 1,632 transactions in 6.5 million acres of the total area.
Due to the booming economic environment, the city is continually creating projects.
The statistics show that the overall number of transactions amounted to 1,632 and 579 sales transactions, 35.5 percent of the total transactions.
Like mortgage transactions, mortgage transactions reached a total amount of AED 402.2m. The remainder of the transaction was 856, 52.4 percent of the overall transaction. The sale was conducted in 89 regions within the city.
253 lands,185 towers for units, and 141 constructed on lands were purchased.
The Development of Luxury Communities Is Another Add-On
Another reason is that Sharjah Real Estate has received exclusive communities featuring luxury residential properties and residences. These projects attract wealthy segments and offer excellent amenities and exceptional living.
Noteworthy Communities Sharjah Real Estate has excellent communities, including Maryam Island, Al Masha Raseel, and Al Mamar.
These communities are home to luxury properties and high-end residential projects that have set a new standard in Sharjah, and investors are showing interest.
More comfortable living: The communities in Sharjah provide top-of-the-line facilities and essential services like parks, retail options, entertainment, schools, and many others for an easy life.
Investment Opportunities
Sharjah promises substantial returns on investment.
You can purchase a house in Sharjah and enjoy the same luxurious amenities. Whether you’re looking for a short-term or long-term investment, Sharjah Real Estate is an optimal choice.
Sharjah offers various properties, from apartments to townhouses and villas. You can select the type of property that fits your budget.
Sharjah has a greater demand for rental properties, offering property owners consistent rental income.
Final Thought
Sharjah’s real estate market is growing, and the new freehold law regulations are improperly demanding its value.
The city’s luxury neighborhood has experienced a 13 percent improvement and has become the new Emirates real estate region. Sharjah’s real estate market is an excellent place to invest.
