Sharjah property booms as demand for leasing surges
16.6% of all searches for apartments to buy in July were in Al Khan area
Dubai: The average property listing prices for the sales of villa/townhouses have increased across Sharjah, according to the latest Property Finder figures. Data shows average listing prices for rent have declined except in communities like Al Majaz, Al Nahda, Muwaileh and Al Riqqa which have been in high demand.
The average apartment sales listing price for a property in Sharjah increased from Dh590,000 in January to Dh603,000 in July. Meanwhile, the average apartment rental listing price remained consistent throughout the year at a steady Dh30,000 occasionally falling to Dh29,000.
Villa/townhouses rental listing price has shown a steady decline over the year and fell from Dh100,000 in January to Dh95,000 in July, a decline of 5 per cent.
Top areas for apartment sales
- Maryam Island
- Al Khan
- Aljada
- Muwaileh Commercial
- Al Taawun
- Al Nahda
Top areas for villa/townhouse sales
- Muwaileh Commercial
- Tilal City
- Al Tai
- Al Rahmaniya
- Aljada
- Sharjah Waterfront City
Sales demand
The demand for apartments was dominated by Al Khan with more than 16.6 per cent of all user searches followed by Maryam Island, Al Majaz, Al Taawun, Al Nahda and Muwaileh Commercial. For villa/townhouses, Muwaileh Commercial had the most searches with 26.5 per cent, followed by Al Tai, Al Badie, Al Rahmaniya, Al Heerah and Wasit.
Rental demand
For rental apartments, Al Majaz had more than 21 per cent of all user searches followed by Muwaileh, Al Nahda, Al Taawun, Al Khan and Al Qasemiya. For villa/townhouses, Al Heerah had the most searches with 15.6 per cent, followed by Al Riqqa, Muwaileh Commercial, Halwan, Al Tai and Al Badie.