Sharjah Real Estate Marks Growth Rate Of 22.7% Compared To Last Year
The real estate sector in the emirate of Sharjah has shown significant growth during Q3 2021, as the monetary value of real estate transactions amounted to AED5.7 billion by the end of September, through 16,781 transactions, according to a report issued by the Sharjah Real Estate Registration Department. These numbers marked a growth rate of 22.7% compared to the same period last year, while the volume of area circulated in sales transactions amounted to about 16.5 million square feet. The main branch accounted for 94.7 percent of the total monetary value of real estate transactions recorded in the emirate, while the monetary value in other branches accounted for 5.3 percent of the total monetary value during Q3 2021. The Central Region branch achieved a monetary value rate of 3.6 percent, while the monetary value rate in the Khorfakkan branch amounted to 0.5 percent. Moreover, the Dibba Al-Hisn branch recorded 0.2 percent, and as for the Kalba branch, it accounted for 1percent of the total monetary value. There is a remarkable increase in the department's total transactions during Q3 2021, compared to the same period last year, which indicates the withdrawal of the COVID-19 crisis, where the increase in total transactions reached 12.9 percent. The total number of mortgage transactions in the various areas of Sharjah during Q3 2021 amounted to 990 transactions, with a value of AED2.4 billion. The number of sales transactions in the various regions of the emirate during Q3 2021 recorded 1,662, with an increase of 52.5 percent compared to the same period last year. Most sales transactions took place in Sharjah with some 1,542 transactions which were in 93 different areas of Sharjah, amounting to AED2.2 billion. During Q3 2021, investors of 50 nationalities invested in Sharjah. The investments of GCC citizens, including Emiratis, amounted to about AED4.5 billion, with 4,874 properties. Furthermore, the investment of citizens of other countries, including the Arab countries, amounted to AED1.2 billion for 1,042 properties.
Tags : INTERNATIONAL Investment Transactions Sharjah growth rate Emirate Sharjah Real Estate Registration Department