Sharjah is the third-largest emirate in the United Arab Emirates and is known as a unique cultural and tourist center due to its strategic location near Dubai. The calm family environment it offers, along with relatively lower living costs compared to Dubai, makes it an ideal destination for both residence and real estate investment. In this article, we review details about the apartment market in Sharjah, including options available for sale or rent, and what to consider when deciding to buy or rent an apartment in this distinguished emirate.

Advantages of Living in Sharjah

Sharjah is an excellent choice for those looking to combine high quality of life with reasonable costs. It offers a unique mix of culture, education, and entertainment, with many museums, art galleries, and cultural landmarks that reflect the rich Emirati heritage. Sharjah also hosts a wide range of excellent educational institutions, from international schools to universities recognized globally.

Moreover, Sharjah is characterized by social stability and a high level of safety and security, making it a suitable place for families. The emirate also boasts a developed infrastructure that includes all public services and facilities such as medical services, shopping centers, and public transportation. Despite its proximity to Dubai, the cost of housing and living in Sharjah is much lower, making it a suitable option for those who work in Dubai but prefer to live in a quieter and more affordable place.

Also Read:

Investing in Real Estate in Dubai and the UAE

Types of Apartments Available in Sharjah

The available apartments in Sharjah vary according to the apartment size, amenities, and location. Apartments in Sharjah range from small studio apartments to luxurious spacious ones. The types of apartments available can be categorized into multiple classes based on size, location, and level of luxury.

1. Studio Apartments: Studio apartments are an ideal option for individuals or couples looking for a small and comfortable space. Their area usually ranges between 300 to 600 square feet and includes one bedroom with a kitchen and a bathroom. These apartments are perfect for students or workers who wish to live alone.
2. One-Bedroom Apartments: These apartments are suitable for couples or individuals who need a bit more space than a studio. They typically feature one bedroom, a living room, a kitchen, and a bathroom, with an area usually ranging between 600 to 900 square feet.
3. Two and Three-Bedroom Apartments: These apartments are suitable for small families or couples who want extra space for guests or to designate a room for children. Their area ranges between 900 to 1500 square feet.
4. Luxury Apartments: Luxury apartments are suitable for those who want a luxurious and comfortable experience. These apartments are located in modern residential towers and come with luxurious and distinctive services such as dedicated parking spaces, gyms, and 24-hour security. They typically include spacious areas, elegant interior designs, and smart home management technologies.

Also Read:

Real Estate Prices in Dubai and the UAE in 2024

Popular Residential Areas in Sharjah

Sharjah includes many residential areas, each offering a unique residential experience. Some of the prominent areas with apartments for sale and rent are:

• Al Qasba: Al Qasba is considered one of the most prestigious and important residential areas in Sharjah, featuring a large number of cafes, luxury restaurants, and recreational facilities. It also boasts views of the water canal. Apartments in this area are usually luxurious and suitable for families and individuals looking for a distinctive and comfortable experience.
• Al Majaz: Located close to Khalid Lake, Al Majaz is known for its charming waterfront views. It is one of the preferred areas for families due to its proximity to schools, shopping centers, and public parks. The area also includes reasonably priced apartments as well as luxury ones.
• Al Nahda: Al Nahda in Sharjah is one of the most sought-after residential areas due to its proximity to Dubai. It offers a variety of apartments ranging from economical to luxury, making it suitable for various social classes.
• Al Khan: Al Khan is ideal for those who want to live near the sea, offering apartments with stunning sea views and a range of recreational facilities such as restaurants and cafes.

Also Read:

Best Places in Dubai to rent and buy an apartment

Apartment Prices in Sharjah

Apartment prices in Sharjah vary depending on several factors such as location, apartment size, and available services. Sharjah is considered a low-cost real estate destination compared to Dubai and Abu Dhabi.

• Studio Apartments: The prices for studio apartments in Sharjah range between AED 150,000 to AED 300,000 for purchase. For rent, the annual price ranges between AED 15,000 to AED 25,000.
• One-Bedroom Apartments: The purchase price for these apartments ranges between AED 300,000 to AED 600,000, while the annual rent ranges between AED 25,000 to AED 45,000.
• Two and Three-Bedroom Apartments: Purchase prices range between AED 600,000 to AED 1,200,000, while rent ranges between AED 45,000 to AED 75,000 annually.
• Luxury Apartments: The prices for these apartments vary greatly based on location and services. Purchase prices can exceed AED 2,000,000, while annual rent ranges between AED 75,000 to AED 150,000.

Also Read:

Best Real Estate Companies in Dubai

Key Tips for Renting an Apartment in Sharjah

When buying or renting an apartment in Sharjah, it is essential to follow some tips and guidelines to ensure a distinctive and comfortable experience.

1. Budget: Set a clear budget based on your monthly income and potential costs. When renting, don’t forget to include additional costs such as maintenance fees and water and electricity services.
2. Location: Choose a location that suits your needs, considering proximity to your work, your children’s schools, and public transportation. Make sure to visit the area at different times of the day to check the traffic.
3. Facilities and Services: Ensure the availability of essential facilities such as parking, security, and maintenance, as well as services like elevators, air conditioning, and general cleanliness.
4. Purpose of Rent: Determine the type of property to be rented as it greatly facilitates finding suitable housing.

Also Read:

ِVillas for Sale in Dubai

Factors Affecting Apartment Prices in Sharjah

Apartment prices in Sharjah are affected by several factors, such as:

1. Location: The location is one of the most important factors. Apartments located in areas close to vital services like schools, hospitals, shopping centers, and beaches are more expensive.
2. Apartment Size: The size and number of rooms determine the apartment’s price; larger apartments are more expensive, and vice versa.
3. Property Condition: New or renovated properties are more expensive than older properties that need renovation.
4. Facilities and Services: Apartments that offer facilities like swimming pools, gyms, parking, and security services are more expensive.
5. Supply and Demand: If there is an increase in demand for apartments in a specific area, prices rise, and if there is a shortage in supply, prices rise as well.
6. Interior Finishes: Apartments with high-quality finishes and modern fittings are more expensive than those with basic finishes.
7. Proximity to Transportation: Being close to metro stations or bus stops can increase the apartment’s value.

Also Read: Real Estate Prices in Dubai and the UAE in 2024