The UAE’s property market is recovering from the effects of the coronavirus pandemic. It is due to government initiatives such as the expansion of the 10-year golden visa program and other schemes. According to experts, the real estate market could see a substantial resurgence. Most probably in the following 18 months, as politicians’ response to the pandemic has pushed investors even further. It has become relatively easy to buy property in Sharjah now. Therefore, this article lists some of the best places to invest in real estate 2022 Sharjah.
The Sharjah government announced historic amendments to real estate in the past. These included ownership laws relating to foreign property investment in Sharjah in 2014. The earliest revisions to the law permitted non-GCC members to purchase real estate in Sharjah if they had a valid resident visa. Foreign investors, on the other hand, could only buy up to five houses.
However, this has changed now. Due to a recent change in the law, it is now allowed for foreign investors to purchase the property. They can buy real estate in Sharjah without requiring a resident visa. Keep in mind that this flexibility for foreigners to acquire houses in Sharjah is limited to specified locations. We have listed these specific areas for expat property investment in Sharjah city below.
Sharjah legislation still prohibits expats from owning freehold homes in the emirate. Best Places to Invest in Real Estate 2022 Sharjah are present in the regions listed here. Property leases for foreign real estate investment in Sharjah are now available for a maximum of 100 years.
7 Best Places to Invest in Real Estate 2022 Sharjah:
Best Places to Invest in Real Estate 2022 Sharjah
According to figures provided by the Sharjah Real Estate Registration Department, total real estate transactions in Sharjah have increased. They have gone from 22.7 percent year on year in the third quarter to Dh5.7 billion. During the period, the emirates registered 16,781 transactions.
Sharjah, located north of Dubai, is the cultural center of the United Arab Emirates. It is known for housing some of the top museums and art galleries in the country. This makes it an attractive place to visit for everybody. Sharjah is also an appealing destination for expats. It is due to its laid-back and easygoing lifestyle and a lower cost of living compared to Dubai or Abu Dhabi.
Furthermore, the city has a variety of activities and entertainment venues to keep people of all ages entertained. As the country’s third-largest metropolis, there are numerous residential regions to select from. If you are a foreign investor looking to buy property in Best Places to Invest in Real Estate 2022 Sharjah, here is some information on the finest regions to invest in. You can choose depending on your budget, interests, and lifestyle. This list has flats, townhouses, villas, duplexes, and even residential plots.
Whether you’re a resident or a foreigner in the UAE looking to buy affordable Sharjah flats, Al Mamsha is a terrific place to start. A magnificent studio flat in Al Mamsha is available for as little as AED 330k. A 2-bedroom luxury apartment starts at AED 740k.
Al Mamsha is a lively urban development area in Sharjah. It integrates modern living with contemporary lifestyle features of leisure and retail. This place provides you with a whole new selection of apartments for sale in Sharjah. The region also includes distinctive architecture, retail areas, and entertainment districts. All of these things contribute to an appealing living environment.
Al Mamsha in Muwaileh is conveniently located just minutes from Sharjah International Airport. It is unquestionably one of the best places in Sharjah for international investors. The property is in an excellent location near University City. And is home to the American University of Sharjah, Skyline University College, and other major Sharjah universities.
While the location is ideal, the property itself provides a diverse range of community activities and features. Investing here gives you access to a range of things. For example, retail businesses, entertainment centers, nurseries, schools, and a play area for children. There are also swimming pools, high-tech gymnasiums, and health club facilities.
This Muwaileh community is created for everyone, with modern and high-quality home options. While GCC nationals can purchase freehold flats in Al Mamsha, non-GCC citizens can purchase long-term leased homes. The complex offers luxurious apartments with 1, 2, and 3 bedrooms. To fulfill the different needs of Sharjah real estate buyers, studio apartments are also offered in a variety of floor plans. Al Mamsha offers 2- and 3-bedroom duplex flats with gardens and private terraces if you’re seeking a larger investment.
Al Taawun is a lively neighborhood with stunning waterfront apartments on the Dubai-Sharjah border. There are various mid-and high-rise buildings with apartments for sale and rent in this area. On the ground floor of most apartment complexes, there are stores and supermarkets.
It is a popular destination for both expats and real estate investors. Despite its popularity, the flats in the region remain reasonably priced and family-friendly. Furthermore, the neighborhood offers a healthy outdoor lifestyle as well as a vibrant street life. Al Taawun is ideal for families or singles who prefer to live in close-knit communities.
This is one of the greatest neighborhoods in Sharjah to buy cheap townhouses. For example, a 2-bedroom villa in Aljada costs under AED 120k. For those of you who are interested in anything other than buying Aljada townhouses. The large selection of Aljada apartments for sale is another appealing option. It is located near Sharjah Airport International Free (SAIF) Zone and University City. It has emerged as Sharjah’s top real estate destination. This unique urban neighborhood has successfully drawn expat Best Places to Invest in Real Estate 2022 Sharjah real estate. It is because it provides an excellent combination of jobs, entertainment, retail, recreation, and living conditions.
This area is designed for stress-free living, with amenities and facilities that complement this way of life. As part of its premises, the region includes schools, mosques, clinics, outdoor sports facilities, a library, a civil defense center, a post office, and even hotels and offices. This well-appointed, partially built community has all you need as a foreign investor to ensure that your property purchases maximize earnings.
Aljada by Arada promotes an active lifestyle and delivers luxury living at an accessible price. You can invest in residential properties by purchasing penthouses, townhouses, villas, or high-end apartments. AED 230k is the starting price for studio apartments in Aljada. AED 670k is the starting price for a two-bedroom flat in Aljada. At the same time, a three-bedroom apartment will set you back at least AED 1.2M. Villas for sale in Aljada start at 1.2 million euros.
Al Qasimia, named for the royal dynasty that has controlled Sharjah since 1600 AD. It is one of the most popular expat neighborhoods. There are affordable apartments in the region that are suited for individuals and families. The apartments are primarily outfitted with top-of-the-line amenities and services. For example, huge bedrooms, parking, and security systems. There are many malls, supermarkets, schools, and medical institutes in Al Qasimia. A welcoming community and tourist attractions also surround it. Like Sharjah Beach, Al Majaz Waterfront, and King Faisal Mosque.
This mixed-use complex covers a total area of 25 million square feet. Tilal City is located on Emirates Road E611. It is Sharjah’s first master-planned city, intended for conducive community life. If you’re wondering what makes this development one of Sharjah’s top destinations for international real estate investment. Here’s everything you need to know. Tilal City is divided into five main divisions: residential, commercial, entertainment, and retail. With both freehold and leasehold options, the development is estimated to generate an ROI of up to 10%.
There are no community or maintenance fees associated with the plots for sale. And you can even invest in mixed-use land in addition to residential. Residential plots in Tilal City are available for as little as AED 500k. A mixed-use plot of land in Tilal City can set you back more than AED 1.1 million.
The facilities available in and around a region have a significant impact on its popularity as a place to live and invest. The Tilal City master plan, like the places described above, Best Places to Invest in Real Estate 2022 Sharjah. It also provides plenty of space for lifestyle facilities and amenities. There are intricate retail belts, as well as independent stores and a mega-shopping complex.
Tilal City is a paradise for investors. This one-of-a-kind development offers you a once-in-a-lifetime opportunity to acquire land in Sharjah. And to build your dream home on it. While GCC nationals can buy land here free and clear, foreign investors in Sharjah can lease it for 100 years.
Al Majaz is a bustling area along the Buhaira Corniche. It is popular with both renters and investors due to its gorgeous and calm views of the pristine lake. This growing neighborhood is currently one of the most sought-after in the city. It’s tranquil, family-friendly, and well-developed.
The neighborhood has plenty of open space for homeowners to enjoy outdoor activities. There are schools, nurseries, supermarkets, restaurants, and shopping centers on the property. Because Al Majaz is primarily a tourist destination, residents are surrounded by tourist attractions. For example, Mamzar Beach, the Eye of the Emirates, and the Al Majaz Waterfront.
Al Khan is well-known as one of Sharjah’s premier waterfront locations, as well as one of the city’s oldest settlements. Its proximity to Dubai leads to higher rentals than in other regions of the city. Expats can pick from mid-rise to high-rise luxury apartment buildings of various sizes and types.
However, it is fully equipped with all of the best amenities. Supermarkets abound, schools with foreign curricula are available, and respected clinics are widely accessible. It also features many entertaining, retail, and outdoor activities.
Real Estate in UAE: Scope for 2022
According to real estate investment advisory firm Medallion Associates: The UAE’s real estate market is currently enjoying increased vigor and momentum. This is a result of peaking rental and capital appreciation across some of the high-end buildings.
According to the report, the UAE’s continued attractiveness stems from the market’s several distinct value propositions. For example, as its focus on innovations and technologies and decisive and swift steps against Covid-19. The company stated that, notwithstanding the obstacles caused by the epidemic, domestic real estate transactions had shown an optimistic market view.
Many elements contributed to the real estate market’s success despite the pandemic. The reason is Proactive government incentives. For example:
- special investor and retiree visas
- golden long-term visas
- the UAE Central Bank’s decrease of the loan-to-value (LTV) for first-time homebuyers to 20%
These provided a huge boost to the industry. Low-interest rates, competitive mortgage programs, and affordable home prices all contributed to the market’s strength.
According to CEO of fam Properties:
“We have seen a much better overall market sentiment due to the Best Places to Invest in Real Estate 2022 Sharjah. This, combined with the positive trends for villas, townhouses, and waterfront properties, has massively contributed to lifting the spirits of investors and boosting their confidence. All of these factors have increased the number of sales transactions across all segments of real estate in Dubai.
As we approach the opening of Expo 2020 in less than 100 days, there is a lot of hope that real estate will boom in 2022. Moreover, there will be better recovery and growth for the commercial real estate sector. This is supported by statistics published by the Dubai Economic Department and DMCC. It is a leading free zone in Dubai. And this indicates a significant increase in the number of new trade licenses issued in 2021.
The Bottom Line
Projects such as Aljada, Tilal City, and Al Mamsha are the best places to invest in real estate 2022 Sharjah. They are for anyone looking to buy luxury flats in Sharjah or any other property. The market is quite promising. But it will be some time before new sites for Best Places to Invest in Real Estate 2022 Sharjah sprout up throughout the city. Sharjah’s most excellent villa communities provide a broad portfolio for investors searching for more significant residential properties. It has many houses with excellent returns on investment.
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