Blog
October 7, 2024
Ajman's real estate sector reached a total valuation of AED 2.25 billion in August 2024
Almost 1005 transactions were made in the real estate sector in August 2024. These transactions generated a shocking high amount of AED 950 million. If we talk about which area in Ajman had the most sales, it’s Helio 2 with a sales record reaching 38.7 million. This achievement made Helio 2 the key region in Ajman.
Rapid Increase in Total Valuation of Ajman Real Estate Sector
Soon after Ajman hit that number, the Director-General of Ajman’s Dept. of Lands and Real Estate, Omar bin Omair Al Muhairi, revealed that the the transactions has increased to 1264 and has hit more than AED 1.57 billion. The fun part is that it kept increasing. In the same month, when the final 142 valuation transactions were completed, it hit over AED 2.25 billion, an increase of 266% from the previous month, July 2024.
Ajman Becomes the Top Investment Destination
Now it’s official from Dept. of Lands and Real Estate Regulation that Ajman is the most favorable investment destination. Comparing it to last year, August 2023, there is an increase of 4.6% in real estate transactions volume.
Investors are Confident to Invest in Ajman Property
After all these shocking growth results and registration of 184 mortgage deals that made over AED 267 million, the confidence of investors and residents in Ajman real estate sector has increased. While Helio 2 is the highest sales record area in Ajman, Al Nuaimia 1 became the top area to perform in mortgage transactions. Its highest single mortgage transaction was valued at AED 14 million.
Commercial Properties are Ruling Ajman Real Estate Market
Although every type of real estate property is showing mind boggling results, commercial properties is becoming the most sought after type of real estate in Ajman.
- Commercial properties such as stores and shops are the most valuable, worth AED 1.97 billion.
- Industrial properties, for instance, factories and warehouses are the second most valuable, worth AED 158 million.
- Residential properties, for example, homes and condos are the third most valuable, worth AED 119 million.
Ajman Launches Special Programs to Retain Investors
The Department of Lands and Real Estate Regulation has checked property worth by analyzing personal deals, court-ordered checks, and requests from big institutions. They found 118 deals for long-term stays for rich investors investing in golden residencies, worth more than AED 407 million in total. This was 8.8% more than in July 2024.
As a result, global property investors are now attracted to Ajman, and current investors are getting retail to keep investing in Ajman because it’s a prime destination now.
Conclusion
All of this altogether shows that Ajman is continuously growing to be the best real estate market. It has shown the highest transaction volumes, profitable mortgages and record-breaking property values. Commercial properties are on the top whereas industrial and residential properties are also leading the market. International investors are now displaying strong demand for Ajman’s real estate market because of its lucrative investment incentives and positive economy.
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