UAE : Shortage of Smaller Flats in Sharjah, Ajman Drives Rent Increases

Post by : Elena Malik

Rising Demand for Rentals in Sharjah and Ajman Amidst Dubai Commute Benefits

The appeal of Sharjah and Ajman as residential alternatives to Dubai has surged, driven by proximity to Dubai's schools and significant cost savings on rent. Recent reports indicate a notable increase in rental prices in these Northern Emirates, with one to two-bedroom apartments seeing up to a 20% rise compared to late 2023.

Raif Hassan Ikkeri, founder of Emaan Properties LLC, attributes this trend to the attractiveness of Sharjah and Ajman's rental differentials post-Covid, despite overall rental increases across the UAE. Mohammed Rayyan from A and H Real Estate corroborates this, noting a substantial increase in rents, particularly for one-bedroom apartments now starting from Dh30,000 to Dh36,000 annually.

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Smaller units are in high demand, with one-bedroom apartments favored by small families and two-bedroom units sought after for accommodating visiting relatives. Rental prices for two-bedroom flats range from Dh36,000 to Dh52,000, a notable increase from six months ago when rates started at Dh34,000.

Preferred areas such as Al Nahda, Al Tawoun, and Al Majaz are seeing heightened interest due to their accessibility to transportation hubs, healthcare facilities, and retail outlets, along with convenient links to Dubai.

Rayyan emphasizes that the fixed rental rates for the initial three years of tenancy in Sharjah appeal to many residents, adding to the emirate's attractiveness. Additionally, the growing population influx, spurred by increased visa issuances and industrial growth in neighboring Ras Al Khaimah, further fuels housing demand in Sharjah and Ajman.

Investment trends show a preference for spacious villas and apartments in Ajman and Sharjah, especially among end-users and foreign investors attracted by comparatively lower property prices. Villas in Ajman's popular freehold areas like Rowdah, Yasmeen, and Zahia start at approximately Dh1.2 million, offering larger living spaces compared to Dubai's property market.

Experts foresee continued rental market adjustments in Sharjah and Ajman, influenced by Dubai's escalating rental costs, which have risen by 30% since early 2023. This trend underscores the Northern Emirates' growing significance as viable residential alternatives amidst shifting demographic and economic dynamics in the UAE.

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