Sharjah is slowly but surely turning out to be the destination of choice for GCC nationals looking for a second home, because of the stable market and competitive pricing of the emirate. Sharjah is a stable market destination, and this is one factor that is increasingly becoming attractive to genuine buyers. The latest figures from the Sharjah Real Estate Registration Department indicate the growing confidence. GCC nationals are among the biggest investors in the emirate’s real estate market, with property investments of Dh3.4 billion in over 2,000 transactions in a year.
Stable Growth in the Sharjah Second-Home Property Market
One of the major factors that contribute to this growing demand is the consistent price appreciation in Sharjah, which has been averaging 10-12% per annum in the past few years. Analysts forecast that this trend is likely to continue because of its strong fundamentals and not due to any speculative demand. Industry insiders have pointed out that Sharjah’s real estate development strategy is based on long-term value creation and not on quick price appreciation.
Affordability Supporting Demand in the Sharjah Second-Home Property Market
The other reason that has contributed to the second-home market in Sharjah is that it is family-friendly lifestyle. The promotional lifestyle in Sharjah, which lays emphasis on education, culture, and communal living, makes it a good destination to be adopted by families that are pursuing more relaxed lifestyle. This has resulted in making sure that the consumers in the market are buying as an use to an end.
Shift From Short-Term Investors to End Users
Market dynamics in Sharjah have changed considerably. Though in the initial years, there were more short-term investors, the trend now is towards more end-users and long-term investors. Developers and real estate experts also state that the new set of buyers is more committed, value-conscious, and interested in livability. This has led to more price stability in the market.
Government Policies Strengthening Confidence in the Sharjah Second-Home Property Market
The Sharjah government has been an important element in the growth of the real estate industry by focusing on the importance of regulations, infrastructure, and transparency. This has led to the development of trust among buyers in the region.The regulations that enable people of all nationalities to own freehold properties in designated communities have also raised the demand for properties in the region.
Rising Demand for Waterfront Properties
The waterfront market is one of the most developing markets in the Sharjah real estate sector. The past two years have seen the introduction of new waterfront projects, a factor that indicates the high demand on the waterfront properties due to the scarcity and the high demand of the same. The real estate developers are paying more attention to the living solutions which are vertical, approach to the sea view to maximum extent but which are not at the cost of open space and walking areas.
Limited Supply Adds to Long-Term Value
Experts point out that the fact that waterfront properties are inherently limited in supply adds immense value to investment in such properties. Such properties are less likely to see depreciation in value during market fluctuations, and the returns on investment, in terms of rental income, are also better. Moreover, such properties are more liquid when it comes to resale.
Family-Friendly Lifestyle Attracting Buyers
The other reason that has contributed to the second-home market in Sharjah is that it is family-friendly lifestyle. The promotional lifestyle in Sharjah, which lays emphasis on education, culture, and communal living, makes it a good destination to be adopted by families that are pursuing more relaxed lifestyle. This has resulted in making sure that the consumers in the market are buying as an use to an end.
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Coastal Tourism Activities Boosting Property Demand
The increase in tourism activities along the coast has also contributed to the demand for properties along the coast. The coastal developments not only contribute to the development of the tourism sector but also have a positive effect on the economic development of the surrounding areas. With the increase in tourism infrastructure, the demand for properties along the coast is also expected to remain high.
Outlook: Sharjah’s Property Market on a Strong Trajectory
Thanks to the continued support from the government, the growing demand from the end-users, and the balanced price growth, the real estate market in Sharjah is not slowing down anytime soon. The fact that Sharjah has been able to achieve the right balance between being affordable, well-regulated, and lifestyle-driven is what continues to attract GCC nationals to the emirate as a second home destination. Thanks to the balanced supply and demand, Sharjah is turning out to be one of the most stable markets in the UAE.
