Sharjah reported Dh11.2 billion worth of real estate transactions in the first half of 2022, with March being the busiest month.
As many as 3,327 sales transactions took place at a total value of Dh4.1 billion, up 16.2 per cent compared to the year-ago period, of which Dh3.9 billion was recorded in the city of Sharjah alone, according to a Sharjah Real Estate Registration Department report.
The sale of usufruct transactions stood at Dh243 million, while mortgages clocked Dh5.3 billion.
“The real estate sector in Sharjah continues to improve at an accelerating pace, taking advantage of the competitive opportunities enjoyed by investors despite any challenges, mainly due to the increase in the volume and number of transactions in the residential sector, as well as the launch of a number of major real estate development projects, which motivates investors to expand the transactions and conduct real estate deals, considering real estate the safest and most appropriate haven for their investments in light of the relative increase in inflation rates,” said Abdulaziz Rashid Al Saleh, Director of the Sharjah Real Estate Registration Department.
The report showed that March led the first half of 2022 in terms of trading volume with a total of Dh2.7 billion, followed by June (Dh2 billion), and February (Dh1.9 billion).
During the first half of 2022, real estate investors from 75 different nationalities concluded deals on 14,646 properties, data showed.
Residential properties represented 71.9 per cent of the total transactions, followed by industrial (11.7 per cent), commercial (11.1 per cent), and agricultural (5.3 per cent).