The demand is driven by the launch of new projects as well as the stability that the emirate's Real estate market offers to investors.
Lamia Al Jewaied, head of studies and research bureau at Sharjah Real Estate Registration Department, said this was the highest transaction volume since 2008, attracting investors from 120 nationalities from different parts of the world in 2024 compared to 103 in 2023.
Lamia Al Jewaied
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Moreover, the number of properties traded by investors of various nationalities also increased last year to reach 45,676 properties, compared to 31,229 in 2023.
UAE citizens topped the list of buyers with Dh19.2 billion, which represented 48 per cent of the total. Investments by Gulf citizens amounted to Dh2.3 billion, while investments by Arab citizens rose to Dh7 billion. Similarly, investments by citizens of other countries achieved a record increase, which reached about Dh11.5 billion.
As for the number of properties traded by nationality, Emiratis traded 30,638 properties, followed by investors from India, Syria, Iraq, Egypt and Pakistan.
Lamia Al Jewaied revealed that the value of mortgages amounted to Dh10 billion, through 2,558 transactions done by 32 financing entities. Muwailih Commercial saw the highest activity, followed by Tilal and Al-Khan.
As many as 14 new projects - residential, commercial and industrial projects - were registered in Sharjah last year, including 9 complexes and 5 towers. Additionally, 20,197 properties were traded in real estate development projects in the emirate during 2024.
Lamia Al Jewaied attributed the increase in demand to the high demand to invest and live in Sharjah, strong infrastructure, low volatility and ease of buying and selling properties.
“Last year, 14 projects and new phases of previous projects were launched. Plus, Dh10 billion mortgages show that banks highly value Sharjah's real estate market and have confidence and trust in the market due to stability in the market,” she said.
Lamia Al Jewaied noted that the emirate's property market has not reached its peak yet and there is still room for growth.
She added studies suggest that investors can expect an eight to 10 per cent rental return when buying property in the emirate.