Sharjah had Dh6.3 billion in real estate transactions in the first quarter of 2022, according to reports released on Thursday.
According to the Sharjah Real Estate Registration Department, there were 21,615 transactions in the emirate during this time.
The city of Sharjah accounted for 97 percent of the overall transaction value, with Dh6.1 billion, while the Central Region received Dh69.7 million. Dh57.5 million was spent in Khorfakkan, followed by Dh54.9 million in Kalba and Dh54.9 million in Dibba Al-Hisn (Dh6.5 million).
According to Abdul Aziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Department the results reflect the return of investment opportunities to grow and escalate the emirate’s real estate market adding that the results indicate the sector’s recovery from the exceptional circumstances brought about by the pandemic and the restoration of sustainability in growth at the beginning of 2022.
“The first three months of this year witnessed a remarkable growth in the performance of the real estate sector in the emirate in terms of monetary value, a number of real estate transactions, and the total number of real estate transactions carried out by the various branches across Sharjah.”
With a total of Dh2.7 billion in deals in March, the month saw a 32.3 percent growth over February, when the value of trades was Dh1.9 billion.
Real estate deals up 5.7%
Property certificates accounted for 12,707 of the total 21,615 real estate transactions, followed by title deeds (6,062) and mortgage transactions (1,641). The value of the mortgages totaled Dh3.3 billion.
When compared to the previous quarter, sale transactions in the title deeds transactions increased by 21.9 percent. The total trading area of these real estate transactions was 15.8 million square feet.
Residential properties take the lead
Residential units accounted for 72.1 percent of all properties sold in the emirate of Sharjah in the first quarter, with 1,225 units sold, representing a 17.3 percent increase.
Commercial lands accounted for 13.4% of the total, representing a 45.5 percent increase over the previous year.