Are you thinking about investing in property but unsure where to start? Look no further than Sharjah.
This emirate, often overshadowed by its glitzy neighbor Dubai, offers a wealth of opportunities for savvy property buyers.
Investing in property is a big decision, and choosing the right location is crucial.
Sharjah stands out as an excellent choice for many reasons, from its rich cultural heritage to its promising economic prospects.
Why Choose Sharjah?
This emirate is not just about location, it’s a treasure trove of cultural heritage, with numerous museums, galleries, and historical sites.
Moreover, Sharjah’s economy is stable, with diverse sectors including manufacturing, trade, and tourism driving growth.
All these factors make it an attractive destination for property investment.
Affordability and Cost-Effectiveness
One of the most compelling reasons to buy property in Sharjah is its affordability.
Compared to the soaring property prices in Dubai and Abu Dhabi, Sharjah offers much more bang for your buck.
The cost of living is also lower, making it an ideal place for families and individuals looking to enjoy a high quality of life without breaking the bank.
Sharjah Market Trends
Growth:
Transaction volumes are up significantly year-on-year. Reports suggest a 14.6% increase in the first nine months of 2023 alone. It’s estimated to be about 4.5% in 2024.
Rising Prices:
Both sales and rental prices have witnessed upward trends across various property types. Apartments saw an average cost rise between AED 601k and AED 1.01M. The Sharjah property market broke records as it scored a $2.7 Billion record in Q1 of 2024.
Sharjah Property Prices Market Analysis
Apartment Prices Area Wise
Central Sharjah (Al Khan, Al Qasba):
Typically pricier due to their proximity to amenities and waterfront locations. Expect apartments to range from AED 800,000 and upwards.
Family-Oriented Areas (Al Nahda, Al Taawun):
Can offer good value for money, with apartments starting at around AED 500,000.
Up-and-Coming Areas (Tilal City, Aljada):
Modern developments with potentially higher price points due to their new infrastructure and lifestyle offerings.
Villa Prices Area Wise
Established Areas with Amenities (Al Tai, Al Khan):
These areas tend to have higher villa prices due to their well-developed infrastructure, proximity to amenities, and potentially waterfront locations. Expect villas to start from AED 2 million and upwards.
Family-Oriented Areas (Al Zahraa, Al Qasimia):
Often offer a balance between affordability and desirable features. You might find villas here starting around AED 1.5 million.
Up-and-Coming Areas (Tilal City, Aljada):
These new developments showcase modern villas with potentially higher price tags due to their new infrastructure, contemporary design, and lifestyle offerings.
Keep in mind:
Villa prices are highly influenced by factors like size, plot area, amenities offered within the villa or community, and the general age and condition of the property.
Always conduct thorough research on specific properties and areas that align with your needs and budget.
Best Areas to Invest
Affordability Seekers: Al Nahda and Al Qasimia offer good value for apartments and villas.
Waterfront Living: Al Khan boasts a beachfront location with a variety of amenities, making it desirable for both buying and renting.
Modern Lifestyle: Aljada is a new development featuring a mix of residential, commercial, and leisure facilities, attracting those who want a contemporary living experience.
High Returns: Sharjah Sustainable City offers villas with potentially high ROI (around 7.9%) [dubizzle Popular Areas for Expats to Buy a Property in Sharjah].
Diverse Property Options
Sharjah boasts a wide array of property options to suit different needs and preferences.
Whether you’re looking for a cozy apartment, a spacious villa, or commercial space for your business, Sharjah has it all.
The emirate is also home to several mixed-use developments, providing a perfect blend of residential, commercial, and recreational spaces.
Attractive Return on Investment (ROI)
Investing in property in Sharjah can yield impressive returns.
Most of the areas in Sharjah offer villa properties and you can expect an ROI for villa properties between 10%-11%. On average 6% is a consistent ROI expected throughout all property types in Sharjah.
Rental yields in Sharjah are among the highest in the UAE, making it a lucrative option for landlords.
Additionally, property values in Sharjah have been appreciating steadily, promising significant capital gains for investors over the long term.
Legal Framework and Investor Protection
Sharjah has a robust legal framework that protects the rights of property investors, including expatriates.
The emirate has clear property laws that ensure transparency and fairness in property transactions.
Expatriates can own property in designated areas, giving them the confidence to invest without fear of legal hassles.
Tax Benefits
One of the standout benefits of buying property in Sharjah is the favorable tax regime.
There is no property tax or capital gains tax, which means investors can maximize their returns.
This tax-friendly environment makes Sharjah an attractive destination for property buyers looking to optimize their investments.
High-Quality Infrastructure
Sharjah’s infrastructure is top-notch, with well-developed transportation networks, including roads, bridges, and public transport systems.
Utilities and services such as electricity, water, and telecommunications are reliable and efficient, contributing to a high standard of living.
Educational and Healthcare Facilities
For families considering a move to Sharjah, the emirate offers excellent educational and healthcare facilities.
GEMS Millennium School (Sharjah):
- Offers the Central Board of Secondary Education (CBSE) curriculum from New Delhi, India.
- Caters to students from KG to XII (co-educational).
- Features an all-through day-boarding option.
- Part of the GEMS Education Group.
- Rated as “Outstanding” by the Sharjah Private Education Authority (SPEA).
Ambassador School LLC (Sharjah):
- Provides CBSE curriculum.
- Caters to students from KG to XII (co-educational).
- Offers a well-rounded education with a focus on academics, sports, and extracurricular activities.
- Rated as “Very Good” by SPEA.
Our Own English High School (Boys), Juwaiza:
- Offers CBSE curriculum.
- Caters to boys from KG to XII.
- Established a reputation for academic excellence.
- Rated as “Very Good” by SPEA. There is also a separate girls’ school.
Our Own English High School (Girls), Sharjah:
- Offers CBSE curriculum.
- Caters to girls from KG to XII.
- Established a reputation for academic excellence.
- Rated as “Very Good” by SPEA.
Delhi Private School (Sharjah):
- Commonly referred to as DPS Sharjah.
- Offers CBSE curriculum.
- Considered one of the best Indian curriculum schools in the UAE.
- Caters to students from KG to XII (co-educational).
- Rated as “Very Good” by SPEA.
Sharjah Indian School:
- Offers CBSE curriculum.
- Caters to students from KG to XII (co-educational).
- Known for its large and diverse student body.
- Offers a variety of extracurricular activities.
Amity Private School, Sharjah:
- Offers CBSE curriculum.
- Caters to students from KG to XII (co-educational).
- Established by Amity Education Group, known for its high standards and focus on innovation.
- Rated as “Good” by SPEA.
Ryan International Private School (Sharjah):
- Offers CBSE curriculum.
- Caters to students from KG to XII (co-educational).
- Part of the Ryan International Group of Institutions.
- Offers a holistic education with a focus on academics, sports, and creative expression.
- Rated as “Good” by SPEA.
And there are other numerous schools and universities that provide high-quality education.
Some of the Top Hospitals in Sharjah
- A government-run hospital providing a variety of medical and surgical services.
- Committed to offering affordable and accessible healthcare to the community.
- Features a 24/7 emergency department, in-patient and out-patient services.
Additionally, Sharjah has a range of hospitals and clinics equipped with modern medical facilities, ensuring residents have access to top-notch healthcare services.
Saudi German Hospital Sharjah:
- A joint venture between Saudi Arabia’s Ministry of Health and a prominent German healthcare provider.
- Offers advanced medical and surgical treatments across various specialties.
- Features a 24/7 emergency department, in-patient and out-patient services.
- Part of the Thumbay Group, a leading healthcare provider in the region.
- Offers a range of specialties, including dentistry, ophthalmology, and pediatrics.
- Features a 24/7 emergency department, in-patient and out-patient services.
Tourism and Lifestyle
Sharjah is a haven for tourists and residents alike, with its blend of cultural, historical, and modern attractions.
From the stunning Al Noor Island to the bustling Central Souq, there is no shortage of things to see and do.
The emirate also offers a vibrant lifestyle with numerous leisure and entertainment options, catering to all age groups and interests.
Environmental Initiatives
Sharjah is committed to sustainability and environmental conservation. The emirate has numerous green spaces and parks, promoting a healthy and active lifestyle.
Additionally, sustainable development practices are being incorporated into new projects, ensuring that Sharjah grows in an environmentally friendly manner.
Government Support and Initiatives
The government of Sharjah actively supports property investment through various incentives and development projects.
These initiatives are designed to attract both local and foreign investors, fostering a thriving real estate market.
Government-backed projects also ensure that the emirate continues to develop and modernize, enhancing its appeal as an investment destination.
Community and Quality of Life
Sharjah is known for its safe and secure environment, making it an ideal place for families.
The emirate has a diverse expatriate community, offering a multicultural living experience.
The high quality of life in Sharjah, coupled with its friendly and welcoming atmosphere, makes it a desirable place to call home.
Future Growth Potential
Sharjah’s future looks bright, with numerous upcoming projects set to enhance its appeal further.
From new residential developments to state-of-the-art commercial hubs, the emirate is poised for continued growth.
Investing in property now could yield substantial benefits as these projects come to fruition and Sharjah’s vision for the future becomes a reality.
Conclusion
Sharjah offers a compelling case for property investment. Its strategic location, cultural richness, affordability, and strong economic prospects make it a top choice for savvy investors.
With a robust legal framework, tax benefits, high-quality infrastructure, and a commitment to sustainability, Sharjah is an ideal destination for those looking to invest in property.
Whether you’re a first-time buyer or an experienced investor, Sharjah has something to offer everyone.
FAQs
What are the main advantages of buying property in Sharjah?
The main advantages include affordability, high rental yields, a robust legal framework protecting investors, tax benefits, and high-quality infrastructure and amenities.
How does Sharjah compare to Dubai for property investment?
Sharjah offers more affordable property prices and a lower cost of living while still providing excellent infrastructure and amenities. It also boasts high rental yields and a strong sense of cultural heritage.
Are there any restrictions for expatriates buying property in Sharjah?
Expatriates can buy property in designated areas of Sharjah. The emirate has clear laws that protect the rights of expatriate investors, ensuring transparency and fairness in transactions.
What types of properties are available in Sharjah?
Sharjah offers a diverse range of properties, including residential apartments, villas, commercial spaces, and mixed-use developments, catering to various needs and preferences.
How can I get started with buying property in Sharjah?
To get started, it’s advisable to work with a reputable real estate agent familiar with the Sharjah market. They can guide you through the process, from property selection to completing legal formalities and finalizing the purchase.
