The strong development of the UAE market has also been reflected at the emirate level in Sharjah and this has increased demand in both
commercial and residential property markets in the emirate, according to a real estate consultancy.
It is also reported that increasing rents in neighbouring Dubai, an overflow of residents from other parts of the Middle East as well as renewed economic activity and job creation in Sharjah all in all creating the emirate an alluring place for occupants.
According to a report, average residential rents was increased by 4.5% during the first quarter of 2014, leaving them 19% higher than this time last year, additional building on a 3.4% increase in fourth quarter of 2013. Average rents in Al Qassimiya have seen the toughest gains over the past 12 months, with rents now standing 36% up on the first quarter of 2013. Villas on the other hand have registered a 13% increase in rents in the first quarter which measures up to a 25% rise all the way through 2013.
Though limited to a small number of occurrences, residential towers in places supposed to be most important. They have been sold completely off-plan with capital values drifting around the Dh400 psf mark. In a different place in the emirate’s real estate landscape, the overarching improvement in the UAE’s economic presentation is also showing itself in the commercial marketplace in the form of climbing levels of tenant activity with Sharjah as well clearly benefiting from the economic optimism.