Sales Surge 67.1% in Sharjah: A Deep Dive Into Q1 2024 Market Trends

The real estate sector in Sharjah witnessed a major surge in the first three months of 2024. The total value of transactions crossed the Dh10 billion mark for the first time. This showed an increase of 67% from the same period last year.

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Rise in Deal Volumes

The number of deals saw a jump as well. Total transactions reported were 23,478, higher by 9.3% year-on-year. Demand was strong across various property types in the emirate.

Residential Dominates

Most property purchases made in Sharjah during Q1 were of residential properties. These accounted for 81% share of total sales. A total of 2,242 residential deals happened, the highest among other segments.

Apartments in Demand

Among homes, apartments witnessed maximum traction. 700 apartment transactions were recorded. Residential lands and built villas also attracted many buyers.

Mortgage Financing up

Mortgage transactions amounted to 976, rising 13.1% from the previous year. The total value of home loans disbursed reached Dh2.2 billion. This reflects improved affordability for property buyers.

Investors from 94 Nations

Properties in Sharjah appeal to international investors. Citizens from 94 countries invested during the quarter. UAE nationals led the pack while Indians formed the largest expatriate investor group.

Government Support Boosts Sentiment

Favorable policies of the Sharjah government towards the real estate sector have lifted market confidence. The development of new infrastructure and facilities has fuelled sales.

Outlook Remains Positive

With steady government backing and economic growth, demand is likely to stay robust. Transaction volumes may keep rising through 2024 on the back of strong market outlook.

Home Buyer’s Paradise

Sharjah presents attractive choices for both end-users and investors. Quality properties are available across segments and the budget suits all. Steady capital appreciation is assured for the long term.

With continuous government backing , modern infrastructure additions and strengthening economic fundamentals, Sharjah real estate is set to enrich investors and homeowners for years to come. The emirate is rightly emerging as a smart realty investment choice within the robust northern emirates market.