The demand for 1-BHK and 2-BHK apartments in Sharjah and Ajman has surged, resulting in a significant increase in rental prices. Real estate professionals report a 20 percent rise in rents for these units compared to the previous quarter of 2023. Raif Hassan Ikkeri, founder of Eeman Properties, attributed this preference to the lower rents compared to Dubai. Post-COVID, rental rates in the UAE have been on the rise, prompting more interest in properties in Sharjah and Ajman.
Mohammed Rayyan, manager at A and H Real Estate, noted a change in housing preferences, with many smaller units being quickly sold out. 1-BHK apartments are popular among small families, while 2-BHK units are favored by larger families or those hosting visiting relatives. The rental prices for these units have also increased, with 1-BHK flats now starting at Dh30,000 to Dh36,000 and 2-BHK flats ranging from Dh36,000 to Dh52,000 in Sharjah.
Al Nahda, Al Tawoun, and Al Majaz are among the high-demand areas due to their proximity to essential services and easy access to Dubai. Rent in Sharjah is fixed for the first three years of the contract, which is a significant draw for many residents. The growing population and industry in the northern Emirates, including Ras Al Khaimah, are major factors influencing the real estate market.
Some newcomers to the UAE opt to buy villas in Ajman or Sharjah due to more favorable pricing and larger living spaces. Popular areas for freehold properties in Ajman include Rowdah, Yasmeen, and Zahia. The influx of people from Western countries seeking higher living standards and a safer environment is also impacting the rental markets, with rents in Dubai already experiencing a 30 percent increase.
