Blog
April 6, 2024
New Realty Havens Offers 11.5%+ ROI: Ajman, Sharjah, and RAK Shine With 40% Rental Growth
Landlords are looking beyond Abu Dhabi and Dubai after a huge sales and rental increase in 3 emirates
Dubai offers profitable investment opportunities but pricey properties. Ajman, Sharjah, and Ras Al Khaimah have alternate opportunities for Dirham generation with healthy returns.
Asteco has predicted a positive and stable future for the real estate market in the Northern Emirates in 2023. The market shows recovery and growth signs. The groundwork laid in 2023 has positioned the market for growth in 2024.
Dubizzle’s CEO, Haider Khan, has stated: “Ajman, Sharjah, and Ras Al Khaimah are emerging as rising stars in the UAE property market according to our 2023 Annual Property Market Reports.”
Dubizzle analyzed user behaviour and gathered data to reveal a report in 2023, showcasing Ajman to stand out with notable growth in sales and rentals, making it an inviting destination for property investors. Meanwhile, Sharjah and RAK have appeared as hotspots for property purchases in the UAE, showing a rising interest in these areas among real estate buyers.
Ajman has reported to become a top investment zone with a notable ROI of 9.44%. It has a solid infrastructure, advanced lifestyle, and increasing investment rates due to high rental demand. Report states that Al Yasmeen is most popular for villa purchases with 6.15% ROI. Al Zorah has an impressive ROI of 6.99%. Al Nuaimiya leads in apartment rentals with average rent of Dh27,000 and sales price of Dh371,000.
“H. Khan, CEO of dubizzle, said: ‘We’ve noticed consistent increases in nearly all villa and apartment categories, facilitated by modern amenities at competitive prices and timely completion of off-plan projects.'”
The Sharjah property market experienced enormous growth with Maryam Island, Massar, Aljada, Al Mamsaha Raseel, and Al Mamzar appearing as popular spots, each offering different ROIs. Aljada featured a 5% ROI and is considered a critical investment destination. Al Sabkha had the highest ROI for villas at 6.23%. Muwaileh witnessed a 40.48% increase in 3bhk apartment prices. Top areas for apartment rentals were Al Nahda, Muwaileh, Al Qasimia, Al Majaz, and Al Taawun, with Al Nahda leading due to its desirable location and affordable rents.
Dubizzle’s CEO, Haider Khan, says: “Property listings in Sharjah and the Northern Emirates received over 25 million page views in 2023.”
Ras Al Khaimah’s off-plan projects and modern amenities attract investors, buyers, and tenants. RAK’s Al Marjan Island is a preferred investment hub with high demand of AED 1.57m for apartments. Yasmin Village offers 11.71% ROI. Al Hamra Village apartments are selling at an average price of AED 656,000 with a 7.33% ROI, while Mina Al Arab and Al Marjan Island show significant growth in villa prices, reaching AED 19m with a 35.33% increase in 3-bedroom homes.
“Dubizzle’s CEO, Haider Khan, says: The UAE is offering competitive options with similar amenities and benefits for those interested in housing and investment opportunities.”
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