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The situation in the emirate's real estate sector has returned to its pre-pandemic level.
According to data released by the Sharjah Real Estate Registration Department, the property sector of the emirate showed significant growth during Q3 2021, recording 16,781 transactions worth USD 1.5 billion by the end of September.
Compared to the same period last year, the numbers increased by 22.7 percent. Total area of units sold amounted to about 16.5 million square feet.
The situation in the emirate's real estate sector has returned to its pre-pandemic level thanks to the series of measures and incentives implemented by the government to encourage investment. The great growth that has been achieved in the real estate sector in Sharjah reflects its recovery and proves the confidence of investors in шеы real estate market.
The city of Sharjah accounted for 94.7 percent of the total value of real estate transactions recorded in the emirate. In comparison, the value in other regions accounted for as little as 5.3 percent of the total monetary value. The Central Region achieved a monetary value rate of 3.6 percent, Khor Fakkan recorded 0.5 percent, Dibba Al-Hisn – 0.2 percent and Kalba – one percent of the total monetary value.
A remarkable increase is seen in total transactions. Compared to the same period last year, the increase in total transactions reached 12.9 percent, which indicates the successful withdrawal of the COVID-19 crisis.
The emirate had a total of 990 mortgage transactions in Q3 2021, valued at USD 653 million.
The number of sales transactions increased by 52.5 percent compared to Q3 2020 and amounted to 1662 deals.
When classifying sales transactions by the type of property, residential transactions make up the largest share – 1,262 deals, 76 percent of the total number. 206 industrial transactions account for 12.4 percent, followed by 152 commercial transactions at a rate of 9.1 percent. Agricultural transactions complete the list with 42 deals and 2.5 percent.
Representatives of 50 different nationalities invested in real estate in Sharjah. The investments of GCC citizens, including Emiratis, amounted to 4,874 properties worth nearly USD 1.2 billion. And citizens of other countries, including Arab nations, invested in 1042 properties worth USD 326 million.