UAE: New tenants to pay higher rent in Sharjah as demand for cheaper flats soars

One-bedroom units — which were offered for Dh18,000 to Dh20,000 earlier this year — now go for Dh22,000 to Dh24,000

by

SM Ayaz Zakir

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Top Stories

Published: Wed 21 Dec 2022, 3:36 PM

Last updated: Sun 25 Dec 2022, 1:24 PM

With more residents looking to move to more affordable flats, rents in Sharjah have increased by at least 15 per cent compared to the first half of the year, according to real estate agents. A number of residential towers are reportedly fully occupied, too.

Among the localities with the highest spike in demand are Al Nahda, Muwailah, and Al Tawoon due to their proximity to Dubai.


Muhammed Rayyan, a manager at Ansar Group, said that their one-bedroom units are now being rented out for Dh22,000 to Dh24,000 — compared to around Dh18,000 to Dh20,000 earlier this year.

With four towers consisting of over 700 residential units, Ansar Real Estate had nearly 70 vacant flats when the year started — but those were quickly booked over the past weeks.


“We have been receiving nearly 30 phone calls enquiring about vacant flats. Both one and two-bedroom units are in great demand. Now, we have only a few units vacant and those will be occupied in the next few days,” said Gawai.

A two-bedroom flat in Al Nahda, which was available for Dh24,000 in the first quarter, is now being offered for Dh 30,000, he added.

Sajjad Ali, area manager at Badr Al Marzooqui Real Estate, has observed a similar trend.

“We have recorded nearly 100 percent occupancy in all the buildings we deal with," said Ali, whose firm manages over 50 residential towers with over 5,000 apartments.

He said rents for their one-bedroom units in Al Nahda have shot up to Dh23,000 from Dh20,000, while those for two-bedroom apartments increased from Dh25,000-Dh26,000 to Dh30,000-Dh32,000.

“Post-pandemic, many residents have told us that they have received nearly 20 percent cut in their wages. This can be one reason why people move to Sharjah,” said Ali.

Hamid Al Mansoori, deputy general manager of Ansar Holdings, added: “The main reasons why people are considering relocating to Sharjah are affordability, good standard of living, easy access to malls and shopping complexes, schools in the vicinity, and much more."

ALSO READ:


More news from Business