Sharjah records real estate transactions worth Dh24.2bn in 2019 – The National

Sharjah records real estate transactions worth Dh24.2bn in 2019 – The National

The emirate registered 61,357 transactions last year, up by 13.4 per cent compared to 2018. Commercial transactions made up 15.9 per cent, industrial sales 11.8 per cent and agricultural deals 2.9 per cent.. Most of the sales within the city were recorded in the Muwaileh Commercial, Al Khan, Al Nahda and Hoshi areas.. Sharjah witnessed a softening in sales prices and rents as residences in neighbouring Dubai became more affordable, a report from consultant Cavendish Maxwell showed.. In turn, existing tenants were seen taking advantage of the lower rents in Dubai," the report said.. Average rents for a prime, two-bed apartment in the emirate stood at about Dh50,000 per year, while rents for a prime, five-bed villa ranged from Dh110,000-120,00 per year.. Sharjah's affordability, particularly, buoyed the number of sales transactions last year.. Cavendish Maxwell noted that sales transactions grew 31 per cent in the first nine months of the year.. Arada, a company that is developing the emirate's $6.5bn (Dh 23.8bn) Aljada project, reported that sales picked up 33 per cent within its projects in Sharjah..