Sharjah records 5% higher real estate transactions in 2020

Sharjah records 5% higher real estate transactions in 2020

UAE - Mubasher: Sharjah witnessed a 5.1% growth in real estate transactions to 64,459 worth AED 15.9 billion in 2020, when compared to 2019, as shown by the latest data by the Sharjah Real Estate Registration Department.

The number of sales transactions in Sharjah's real estate sector reached 3,773 in 2020, up 13.4% from 3,328 in 2019, according to a press release on Monday.

Most of these sales transactions were registered in Sharjah city with 3,292 transactions valued at AED 4.6 billion.

The number of sales sealed by non-GCC investors in Sharjah's real estate sector rose by 32.5% year-on-year (YoY) in 2020, attributed to a reduction of the sales fees from 4% to 2% for non-GCC purchasers.

The Director General of the Sharjah Real Estate Registration Department, Abdul Aziz Ahmed Al Shamsi, said that this growth is attributed to the support provided by Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah to the real estate sector amid coronavirus (COVID-19).

Al Shamsi further remarked that launching premium real estate projects in 2020 has also helped the real estate transactions to revive.