Due to an increase in demand from local, Arab, and Asian citizens, Sharjah real estate sales increased by 48% to a record Dh40 billion last year, up from Dh27 billion in 2023. The start of new projects and the stability that the emirate’s real estate market provides to investors are the main drivers of demand.
The Sharjah Real Estate Registration Department’s director of studies and research bureau, Lamia Al Jewaied, stated that this was the largest transaction volume in the emirate’s history, drawing investors from 120 different countries in 2024 as opposed to 103 in 2023.
Additionally, compared to 31,229 homes in 2023, the number of properties traded by investors of different nations rose to 45,676 last year.
With Dh19.2 billion, or 48% of the total, UAE nationals were the highest buyers on the list. Dh7 billion was invested by Arab citizens, compared to Dh2.3 billion committed by Gulf citizens. In a similar vein, foreign nationals’ investments hit a record high of over Dh11.5 billion.
In terms of the quantity of properties traded by nationality, investors from India, Syria, Iraq, Egypt, and Pakistan came in second and third, respectively, with 30,638 properties traded by Emiratis.
Lamia Al Jewaied disclosed that 2,558 transactions involving 32 financing organizations totaled Dh10 billion in mortgage value. The busiest areas were Muwailih Commercial, Um Fanain, and Tilal.
Last year, Sharjah reported 14 new residential, commercial, and industrial projects in 2024, including 5 towers and 9 complexes. Furthermore, in 2024, 20,197 properties were exchanged in the emirate’s real estate development projects.
Lamia Al Jewaied ascribed the surge in demand to Sharjah’s robust infrastructure, low volatility, and simplicity of purchasing and selling real estate, as well as the city’s high demand for both living and investing.
“Last year 14 projects were launched and new phases of previous projects were launched. Plus Dh10 billion mortgages show that the banks highly value Sharjah’s real estate market and have confidence and trust in the market due to stability in the market,” she said.
According to Lamia Al Jewaied, there is still opportunity for expansion as the emirate’s real estate market has not yet peaked.
She noted that research indicates that when purchasing real estate in the emirate, investors should anticipate an 8–10% rental return.