Ajman's real estate sector experienced significant growth in March 2024, with transactions totalling $398 million. The Emirates News Agency (WAM) detailed these figures, marking an almost 50% increase compared to the same period last year. This growth highlights the emirate's growing appeal to investors and its thriving property market.
STRONG SALES GROWTH ACROSS DIFFERENT PROPERTY TYPES
In March 2024, there were 1,169 real estate transactions in Ajman. These transactions show that sales are seeing continuous growth across different property types. The total value of these transactions reached AED1.46 billion.
COMPETITIVE ADVANTAGES DRIVING GROWTH
Engineer Omar bin Omair Al Muhairi, Director-General of the Department of Land and Real Estate Regulation in Ajman highlighted the competitive advantages and supportive investment climate of the emirate. He conveyed how Ajman's real estate sector is thriving, breaking records and performing very well.
Al Muhairi also attributed Ajman's real estate growth to its appeal to different investors. He mentioned how the investment climate and competitive advantages make Ajman a great place for real estate. So, these are key factors that attract investors and boost sales in Ajman.
KEY HIGHLIGHTS IN AJMAN’S REAL ESTATE MARKET:
- The highest-value sale, recorded in the Al Helio 1 area, amounting to AED72 million.
- Mortgage transactions increased, with 168 recorded in March, totalling over AED280 million.
- The highest-valued mortgage was in the Al Rawda 1 area, amounting to AED20.9 million.
- Al Yasmeen emerged as the most traded neighbourhood, according to official data.
- Ajman One was Ajman’s most traded major real estate project in March 2024.
WHY INVEST IN AJMAN REAL ESTATE?
In a prime location along the Persian Gulf coast, Ajman provides easy access to Dubai and Sharjah. So, its proximity to major business hubs and transportation networks makes it well-connected. This makes it a convenient location for both residents and investors.
Additionally, Ajman provides more affordable property choices compared to other emirates like Dubai. This affordability, combined with rental yields reaching up to 8%, attracts investors looking for value and rental income potential.
Ajman also provides a friendly environment for real estate investors. For example, the emirate has introduced forward-thinking policies and rules that promote investment. These include allowing expatriates to own property in specific areas, simplifying property registration, and offering appealing financing options.
So when combined, all these factors make Ajman's real estate market an attractive location for investors looking for lasting benefits.
A THRIVING MARKET SET FOR CONTINUED GROWTH
The real estate market in Ajman is experiencing a period of rapid growth fueled by strong sales, a favourable investment climate, and its strategic location. Ajman's affordability, investor-friendly policies, and potential for high rental yields make it attractive for investors entering the UAE property market. So, the emirate is continuing to develop and draw in new residents and businesses. As a result, Ajman's real estate market is well-positioned for sustainable growth in the years to come.
