Real Estate Boom: Ajman, Sharjah, and RAK Investments Surge
Ajman, Sharjah, and Ras Al Khaimah emerge as real estate hotspots in the UAE. Dubizzle’s 2023 reports reveal record growth in sales and rentals for Ajman, making it stand out. Sharjah and RAK gain popularity, with high returns on investment, positioning them as attractive destinations for property purchases. Asteco predicts stable growth in the Northern Emirates market throughout 2023, setting the foundation for further expansion in 2024.
Dubizzle CEO Haider Khan emphasizes the rising prominence of these cities in the UAE real estate market. The Northern Emirates, particularly Ajman, witness increased demand due to infrastructural development and affordable options.
Ajman experiences significant growth, particularly in rents, per-square-foot pricing, and ROI. Notable areas include Ajman Downtown with a 9.44% ROI, Al Zorah with 6.99%, and Al Yasmeen as a sought-after villa neighborhood with a 6.15% ROI.
Sharjah sees increased prices for both buying and renting, with Al Khan as the top choice for apartment purchases (3.51% ROI) and Al Nahda for rentals. RAK’s real estate market maintains appeal, especially in Al Hamra Village, Mina Al Arab, and Al Marjan Island, with Yasmin Village providing the highest ROI of 11.71%.
Overall, these emirates showcase potential investment opportunities and growing popularity among homebuyers in the UAE.