dubizzle Property reveals Northern Emirates report comparing H1 2017 to H1 2018

dubizzle Property, the UAE’s biggest and most visited Property platform, reveals its regular Northern Emirates report, comparing rentals and sale prices trends from H1 2017 to H1 2018.

With over 130k listings at any given time and over 100k daily visits, dubizzle Property regularly shares insights and trends into the property market in Sharjah and Ajman. With the increasing popularity of rental and sale properties in the Northern Emirates, dubizzle reveals key changes in the property landscape in order to empower consumers to make more well-informed decisions.

The report findings indicate an overall prominent decline in rentals and sale prices in both Sharjah and Ajman across apartments and villas.

When analyzing rental prices of apartments, a decrease in average prices was recorded across key areas. Al Nahda and Al Khan experienced the biggest drops, with a decrease of 16% from H1 2017, followed by Al Taawun, which saw a 14% drop, and Muwailih Commercial where rents are down by 2%. Two-bedroom rental apartments in Al Nahda saw the largest decline, dropping 20%, putting the average cost for a two-bed at AED 36,000.

However, apartment sale prices in Sharjah showcased slightly different patterns. The most popular Al Khan area saw a slight increase in average sale price by 4%, while other key areas experienced a drop in prices. Sale prices in Al Majaz fell by 19%, while Al Nahda decreased 9% and Al Taawun saw a fall of 4%.

Al Nahda, Muwailih Commercial, and Al Taawun were the most popular areas amongst dubizzle property seekers for both sale and rent.

Ajman witnessed a similar decline in both rentals and sales prices, with properties dropping even further than Sharjah. Apartment rentals across the entire Emirate decreased. Al Jurf and Ajman industrial area saw the largest drop in rental prices in 2018, with a decline of 18% from 2017. This is followed by Al Sawan with a 14% decrease and Emirates City, where prices have dropped by 10%.

“Across the UAE, properties are becoming more affordable resulting in a decline in the cost of living. We are seeing an oversupply of property units in the market right now which has created a more competitive and affordable market. Our data highlight that apartment sale prices in Ajman, in particular, have fallen at a more pronounced rate than rental prices, giving property seekers an excellent opportunity to invest in their own property,” added Samer Abdin, General Manager at dubizzle Property.

The greatest decline in average sale prices of apartments was in Al Nuaimiya, which fell 23%, closely followed by Emirates City with an average decrease of 21%, and Al Mushairef coming in last with a 19% decrease compared to 2017. While these areas experience heavy declines, Al Sawan experienced the lowest decline in average sale price, dropping by only 10%.

Overall villa prices for both sale and rent have also significantly declined. When looking at the most searched areas amongst dubizzle users, Emirates City, Al Nuaimiya, and Al Sawan were amongst the top areas for both sale and rent.