Rents in Sharjah are expected to stay high for the next couple of years because more people are moving to the emirate. The growing number of residents is making rental prices go up by about 5 to 10 percent.
Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel
Saeed Ghanem Al Suwaidi, who is in charge of real estate in Sharjah, said that even though rents in Sharjah are not rising as fast as in other places, they will still continue to increase for the next two years. He added, "Rents are going up in Sharjah. I think they will stay high for two more years, with a small rise of 5 to 10 percent."
The population of Sharjah has been increasing. In 2015, the population was 1.4 million, and by 2022, it had grown to 1.8 million. This increase is happening across the UAE, especially after the economy bounced back from the COVID-19 pandemic. In 2020, more people moved to Sharjah because things started to get better after the pandemic.
In late 2022, Sharjah allowed foreign people to own property, which has made the demand for homes go up even more. This move helped the real estate market grow. Local developers like Arada, Alef Group, and Shurooq have started building new residential and mixed-use projects, giving people more places to live.
A real estate company called Asteco said that Sharjah is now leading the way for new buildings in the northern part of the UAE. By the third quarter of 2024, rents in Sharjah range from Dh12,000 for a small studio to Dh100,000 for a three-bedroom apartment. This shows a 3 percent rise in rents every three months, and a 16 to 19 percent rise compared to last year.
Issa Ataya, the CEO of Alef Group, said that the higher rents are good for people who are investing in property. "Rents are going up because more people want to live here. This is helping the economy grow," he said.
In short, Sharjah’s real estate market is growing, and rents are likely to stay high because of the increasing number of people moving to the area. New buildings and more demand will keep the prices up in the coming years.
#trending #latest #SharjahRents #UAERealEstate #RentIncrease #SharjahHousing #SharjahMarket #UAEProperty #RealEstateGrowth #HousingDemand #SharjahLiving #UAEInvestments #RentalTrends #UAEeconomy #SharjahDevelopments #RealEstateInvesting #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai
Egypt to host emergency Arab summit on 27 February to address serious Palestinian issues...Read More.
UAE Supreme Court approves extradition of French national Mehdi Charafa to France...Read More.
Bencic wins Mubadala Abu Dhabi Open title again, while Ostapenko/Perez claim doubles win
Desert Race, part of Al Salam Cycling, set for 9 Feb under Sheikh Mohammed's patronage
Harry Maguire scored a last-minute header as FA Cup champions Man United came back to beat Leicester
Zoe Saldaña wins Critics Choice Award for Best Supporting Actress for *Emilia Pérez* and addresses c
The GSAM 2025 exhibition will feature 75 global firms in aviation, energy, and advanced tech
Egypt to host Arab summit on 27 February to discuss Palestinian issue
Egypt to host emergency Arab summit on 27 February to address serious Palestinian issues
UAE Supreme Court Approves Extradition of Mehdi Charafa to France
UAE Supreme Court approves extradition of French national Mehdi Charafa to France
Sharjah NYU Executive Program to Take Place in Sharjah Next April
Sharjah will host the NYU Executive Program at AUS, April 14-17, under Sheikha Bodour's patronage
Bencic wins Mubadala Abu Dhabi Open title for second time
Bencic wins Mubadala Abu Dhabi Open title again, while Ostapenko/Perez claim doubles win
UAE Condemns Israeli Provocative Statements Against Saudi Arabia
UAE condemns Netanyahu's provocative statements on a Palestinian state in Saudi Arabia
Cameron Diaz on MeToo Impact & Inappropriate On-Set Experiences
Cameron Diaz shares on-set experiences and how the industry evolved after MeToo
Finance Ministry Introduces Top-up Tax for Multinational Enterprises
Finance Ministry issues Cabinet Decision on UAE Domestic Minimum Top-up Tax
Rachel Brosnahan on Superman Role, Positive Fan Response & Gunn
Rachel Brosnahan shares Superman trailer buzz, work with David Corenswet, and more
Light to Moderate Rain in Ras Al Khaimah, Fujairah; Cloudy Skies in UAE
Rain and cooler temperatures are expected on Saturday, says the National Meteorology Center
Dubai to Host Young Arab Leaders Forum Before World Government Summit
Dubai to host Young Arab Leaders Forum on 10 Feb ahead of World Gov Summit 2025
3001E, 30 Floor, Aspin Commercial Tower, Sheikh Zayed Road, Dubai, UAE
+971 52 602 2429
info@dxbnewsnetwork.com
© DNN. All Rights Reserved.