August 19, 2021

Al Majaz, Al Khan and Muwaileh top Sharjah realty searches-

categories : real estate

The average property listing prices for the sales of Villa/Townhouses have increased across the majority of communities in Sharjah, according to Property Finder Proprietary data.

Average listing prices for rent have declined except in communities like Al Majaz, Al Nahda, Muwaileh and Al Riqqa which have been in high demand.

The average apartment sales listing price for a property in Sharjah increased from AED590,000 ($160,633) in January to AED603,000 in July 2021. The average Villa/Townhouses sales listing price however started from 2,200,000 in January 2021 and is the same in July, however it did fall in between and was at its lowest in March 2021 at AED1,950,000.

The average apartment rRental listing price for a property in Sharjah remained consistent throughout 2021 at a steady AED30,000 occasionally falling to AED29,000.

The average Villa/Townhouses rental listing price has shown a steady decline over the year and fell from AED100,000 in January 2021 to 95,000 in July, a decline of 5%.

The top areas for apartment sales listings in July were Maryam Island, Al Khan, Aljada, Muwaileh Commercial, Al Taawun and Al Nahda. The average listing price in Al Nahda increased by 17.02% over a 6-month period to AED550,000, Aljada increased by 4.75% to AED529,000 and Maryam island increased by 1.07% to AED606,444.

“The top areas for villa/townhouse sales listings in July were Muwaileh Commercial, Tilal City, Al Tai, Al Rahmaniya, Aljada and Sharjah Waterfront City. The average listing price in Tilal City increased by 25.19% over a 6-month period to AED1,498,500 and Sharjah Waterfront City increased by 18.52% to AED3,200,000 and Al Tai increased by 8.77% to AED1,550,000,” according to Lynnette A Sacchetto, Director of Research & Data.

SALES DEMAND

The user demand of apartments for sale in July 2021 was dominated by Al Khan that had more than 16.6% of all user searches followed by Maryam Island, Al Majaz, Al Taawun, Al Nahda and Muwaileh Commercial.

For Villa/Townhouses, Muwaileh Commercial had the most searches with 26.5%, followed by Al Tai, Al Badie, Al Rahmaniya, Al Heerah and Wasit.

RENTAL DEMAND

The user demand of apartments for rent in July 2021 was dominated by Al Majaz that had more than 21% of all user searches followed by Muwaileh, Al Nahda, Al Taawun, Al Khan and Al Qasemiya. For Villa/Townhouses, Al Heerah had the most searches with 15.6%, followed by Al Riqqa, Muwaileh Commercial, Halwan, Al Tai and Al Badie.

SEARCH TERMS

The top terms searched on Property Finder for apartments and villa/townhouses, for both rent and sales were - Chiller Free, Brand new, Balcony, Independent and Gated.

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