Sharjah, Property Market Snapshot, Winter 2016/17
Sharjah’s residential rental market has been tracking the market in Dubai for almost two years. With rates in Dubai down on this time last year, Sharjah’s landlords have been left with no choice but to lower rents in order to remain competitive.
Despite the ongoing correction however, average rents in Sharjah are still almost a third higher than they were at the start of 2012, highlighting the strength of rent rises in recent years. Still, Sharjah’s rents remain at almost half the levels seen in Dubai or Abu Dhabi.
Undoubtedly the emirate’s economy is feeling the pinch from the wider slowdown across the rest of the UAE, but demand for a slice of Sharjah’s emerging master planned land market remains high and continues to exceed our expectations.
In the city’s office market, As we previously forecast, office rents have succumbed to pressure from falling rents in some of Dubai’s most affordable submarkets, while demand continues to ebb.
Further analysis is presented in the report, so please download your copy here.