UAE: New tenants to pay higher rent in Sharjah as demand for cheaper flats soars

UAE: New tenants to pay higher rent in Sharjah as demand for cheaper flats soars

One-bedroom units — which were offered for Dh18,000 to Dh20,000 earlier this year — now go for Dh22,000 to Dh24,000

Published: Wed 21 Dec 2022, 3:36 PM Last updated: Wed 21 Dec 2022, 4:04 PM

With more residents looking to move to more affordable flats, rents in Sharjah have increased by at least 15 per cent compared to the first half of the year, according to real estate agents. A number of residential towers are reportedly fully occupied, too.

Among the localities with the highest spike in demand are Al Nahda, Muwailah, and Al Tawoon due to their proximity to Dubai.

Rayyan Gawai, a manager at Ansar Real Estate, said that their one-bedroom units are now being rented out for Dh22,000 to Dh24,000 — compared to around Dh18,000 to Dh20,000 earlier this year.

With four towers consisting of over 700 residential units, Ansar Real Estate had nearly 70 vacant flats when the year started — but those were quickly booked over the past weeks.

“We have been receiving nearly 30 phone calls enquiring about vacant flats. Both one and two-bedroom units are in great demand. Now, we have only a few units vacant and those will be occupied in the next few days,” said Gawai.

A two-bedroom