The recent changes in real estate legislation have had a positive impact on the real estate market in Sharjah
Dubai, United Arab Emirates: Metropolitan Premium Properties, the leading real estate agency that provides integrated services and a subsidiary of the Metropolitan Real Estate Group, recorded a 15-20% increase in real estate prices in Sharjah since the Sharjah Executive Council announced that citizens of any country would be allowed to own real estate of all kinds. and uses in the emirate. The Metropolitan Real Estate Group recently opened an office in Sharjah to cover the group’s activities in all the Northern Emirates.
Commenting on the price hike, Khaled Ahmed, Sales Director for Northern Emirates at Metropolitan Premium Properties, said: “The real estate market in Sharjah is more stable and less prone to price volatility. The changes introduced by the Sharjah government to the real estate law have had a positive impact that has contributed to boosting buyer interest. As the emirate witnessed a 30% increase in demand for ready and off-plan real estate units, there is also a shortage in the number of real estate units offered in the market, and the prices of some villas may be higher than their counterparts in Dubai.”
It is expected that real estate prices in Sharjah will continue to rise due to the launch of many new luxury communities and projects, such as the “Masar” project and the “Hayyan” villas project. The emirate also has good potential to attract many tourists with its embrace of many hospitality projects, including “Rove” and “Vida” hotels.
The available data from the Sharjah Real Estate Registration Department indicates that real estate market transactions in the emirate recorded revenues amounting to AED 24 billion in 2022 through 91,507 transactions, compared to 84,238 transactions in 2021, an increase of 8.6%.
Most of the interest recorded by Metropolitan Premium Properties to buy real estate in Sharjah was from Indians, who accounted for about 70% of the total number of buyers, followed by Pakistanis and Arabs. The company also recorded a remarkable interest
Emiratis from Abu Dhabi, Ras al-Khaimah and Fujairah who wish to buy a second home or holiday home.
The most popular property prices range between AED 2-4 million, and end users constitute around 70% of the total number of buyers. Besides Metropolitan Premium Properties of Dubai, the Metropolitan Group also includes the real estate company Metropolitan Capital of Abu Dhabi, Luxury Immobilien GMBH, a real estate agency in Vienna specializing in luxury real estate, and Metropolitan Consulting FZE, which provides legal services. Personal and business in the United Arab Emirates.--
– is over –
About Metropolitan Premium Properties
Metropolitan Premium Properties (MPP) is the flagship real estate company of the Metropolitan Group headquartered in Dubai. It is a full-service real estate agency that provides customized solutions to developers, owners and investors looking to enhance the value of their luxury real estate assets. The company offers a complete real estate solution under one roof and has the largest luxury real estate portfolio in the UAE.
For more information, please contact:
Leader Middle East and North Africa
Tel: +971 4 817 0394 | Mobile: +971 50 453 7023 | [email protected]