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The property market in Sharjah’s Central and Eastern regions is experiencing a remarkable upswing, with transaction values climbing by an impressive 17.7% in the first half of 2024. This surge highlights the growing appeal of Sharjah’s real estate sector and its potential for investors and homebuyers alike.

Key Highlights of Sharjah’s Real Estate Performance

• Total Transaction Value: AED646 million
• Number of Transactions: 14,395
• Traded Area: 21.7 million square feet

These figures, reported by the Sharjah Real Estate Registration Department, showcase the robust health of the emirate’s property market.

Regional Breakdown of Real Estate Activity

The growth in Sharjah’s real estate sector wasn’t confined to a single area. Here’s how different regions contributed to the overall success:

1. Central Region: Led the pack with AED284.2 million in trading value
2. Khor Fakkan: Contributed AED179.6 million
3. Kalba: Added AED170.7 million
4. Dibba Al-Hisn: Recorded AED11.5 million in transactions

Omar Al-Mansouri, Director of the Branches Department, attributed this success to the Sharjah Government’s unwavering support and continuous development of infrastructure and legislation. This proactive approach has created a favourable environment for real estate growth across all cities in the emirate.

Diving Deeper into the Numbers

Let’s break down the real estate activity in each region:

Central Region

• 281 sales transactions across 36 areas
• Al-Qasimia city led with 142 transactions

Khor Fakkan

• 137 transactions in 22 areas
• Al-Bardi 4 area topped the list with 23 transactions

Kalba

• 63 transactions spread over 22 areas
• Al-Taraif 5 area was the frontrunner with 12 transactions

Dibba Al-Hisn

• 13 transactions in 3 areas
• Al-Shamali district dominated with 9 transactions

Mortgage Market Shows Strength

The report also sheds light on the mortgage market in Sharjah:

• 246 mortgage transactions were recorded
• Total value of mortgages: AED279.7 million

This data indicates a healthy lending environment, supporting the overall growth of the real estate sector.

What This Means for Investors and Homebuyers

1. Diverse Opportunities: With activity spread across various regions, investors have a wide range of options to choose from.
2. Growing Market: The significant increase in transaction values suggests a market on the rise, potentially offering good returns on investment.
3. Government Support: The backing of the Sharjah Government in developing infrastructure and favorable legislation creates a stable and attractive investment environment.
4. Mortgage Availability: The strong mortgage figures indicate that financing options are readily available, making property purchases more accessible.

Looking Ahead: Sharjah’s Real Estate Future

As Sharjah continues to develop its infrastructure and refine its real estate regulations, the emirate is positioning itself as an increasingly attractive destination for property investment. The remarkable growth seen in the first half of 2024 sets a positive tone for the remainder of the year and beyond.

For those considering entering the Sharjah real estate market, whether as investors or homebuyers, the current trends suggest a promising landscape filled with opportunities. As always, it’s advisable to conduct thorough research and possibly consult with local real estate experts to make informed decisions.

Stay tuned for more updates on Sharjah’s thriving real estate sector as we move through the second half of 2024.