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Sharjah is a fast-growing market for international real estate investors interested in the United Arab Emirates’ property market. The city provides an intriguing choice of real estate alternatives for people of all ages and backgrounds. Areas for ex-pat real estate investment in Sharjah real estate are included in this category. It is not difficult to see new complexes popping up all over the city as the cultural capital prepares to satisfy the region’s growing housing needs with innovative and sustainable ideas of communal living.
Can ex-pat buy property in Sharjah?
Recently, foreigners were unable to purchase real estate in Sharjah unless they had obtained a resident permit from the UAE government. All of that is no longer the case.
The government of Sharjah implemented major amendments to the real estate ownership rules related to ex-pat property investment in the Emirate of Sharjah throughout the year 2014. Non-GCC nationals were permitted to purchase real estate in Sharjah under the terms of the original adjustments made to the legislation, provided they had a valid resident visa. On the other hand, foreign investors were only permitted to acquire a total of five homes.
Following a recent change in the legislation, it is now legal for foreign investors to acquire real estate in Sharjah without the need for a resident visa in the UAE. While this is true, bear in mind that the ability for foreigners to purchase property in Sharjah is limited to select locations in the zones designated for expat property investment in Sharjah city.
Best areas for ex-pat property investment in Sharjah
If you’re a foreign investor looking to purchase property in Sharjah, here’s some information on the finest regions to invest in the UAE’s largest city. Depending on your budget, interests, and lifestyle, you may pick from a variety of options, including flats, townhouses, villas, duplexes, and even residential plots.
However, although the legislation in Sharjah still prohibits foreigners from owning freehold property in the emirate, you may locate long-term leasehold homes in the emirate in the locations indicated below. Foreign real estate investors in Sharjah may get a property lease for a maximum of 100 years, which is the greatest length of time that can be given.
Aljada, which is located near the Sharjah International Free (SAIF) Zone and University City, has emerged as one of the most sought-after real estate destinations in Sharjah. This unique urban environment, which provides an excellent blend of employment, entertainment, shopping, leisure, and living conditions, has been effective in attracting ex-pat investment in Sharjah real estate in recent years.
With a focus on encouraging an active lifestyle, Aljada by Arada offers luxurious living at a reasonable price. Residential properties provide a variety of options such as penthouses, townhouses, and villas, including high-end flats when investing in real estate.
This is one of the cheapest places in Sharjah to purchase a townhouse, with a 2-bedroom villa in Aljada costing roughly AED 120k, making it one of the most affordable. Another appealing alternative for those of you who are interested in anything other than purchasing Aljada townhouses is the vast choice of Aljada flats for sale, which are available for purchase on a short-term basis.
The mixed-use neighbourhood of Al Mamsha is the next location on our list of the best places for foreigners to invest in real estate in Sharjah. Al Mamsha is a lively urban development that integrates modern living with contemporary lifestyle aspects such as leisure and retail. It provides you with a whole new selection of apartments for sale in Sharjah that are guaranteed to please. The region also has distinctive architecture, retail areas, and entertainment districts, all of which contribute to the creation of a desirable living environment.
This neighbourhood in Muwaileh is intended for people of all ages and backgrounds since it provides modern and high-quality living options. Apartments in Al Mamsha may be purchased on a freehold basis by nationals of the Gulf Cooperation Council, while long-term leasehold properties are available for non-nationals of the GCC.
Luxury apartments in the complex are available in 1, 2, and 3-bedroom configurations. Studio apartments are also offered in a variety of floor layouts to accommodate the demands of a wide range of Sharjah property buyers. If you want to make a larger investment, Al Mamsha boasts duplex apartments with gardens and private terraces ideal for families and groups.
Al Mamsha in Muwaileh, which is conveniently positioned just a few minutes away from the Sharjah International Airport, is unquestionably one of the greatest neighbourhoods in Sharjah for international investors. In addition to its excellent position, the project is near to the University City, which is home to the American University of Sharjah, Skyline University College, and other prestigious educational institutions in Sharjah.
In addition to its outstanding location, the property itself provides a broad range of community amenities and services to residents. Retail businesses, entertainment centres, nurseries, schools, and a children’s play area are all within walking distance of your new home. Aside from that, swimming pools, state-of-the-art gymnasiums, and health club amenities are provided. This means that even if you do not want to reside in Al Mamsha, there will still be a strong demand for rental homes in Al Mamsha as a result of these advantages.
Tilal City is a refuge for businessmen and investors. This one-of-a-kind development gives you a once-in-a-lifetime chance to purchase land in Sharjah and construct your dream home on it. In contrast to GCC nationals, international investors in Sharjah may get land on a 100-year lease rather than as a freehold purchase.
This 25 million square foot mixed-use complex is situated over a total land area of 25 million square feet. Tilal City, which is located on Emirates Road E611, is Sharjah’s first-ever master-planned city, and it has been created to provide a favourable environment for communal life.
Those interested in learning more about what distinguishes this development from others in Sharjah’s finest regions for ex-pat real estate investment may read the following. Located in the heart of Tilal City are five unique sections that provide a variety of residential, business, leisure, and retail options.
The availability of amenities in and around a location has a significant impact on the desirability of a location in terms of living and investing. The master plan for Tilal City, which is similar to the locations described above that are suitable for foreign investors to invest in Sharjah, provides adequate room for lifestyle facilities and amenities. In addition to local stores and a mega-shopping mall.
The revisions in Sharjah’s regulations have removed the necessity for ex-pat investors to get a UAE residency visa to own property in the city. This has created new opportunities for ex-pats to invest in real estate in Sharjah. It should come as no surprise that Sharjah has recently emerged as an attractive location for global real estate investment in the United Arab Emirates.
For those looking to purchase luxury flats in Sharjah or any other kind of property, developments such as Aljada, Tilal City, and Al Mamsha provide excellent opportunities for a comfortable living as well as successful investments. Although the market seems to be promising, it will be some time before additional opportunities for foreigners to invest in Sharjah become available around the city.
In addition to offering a broad inventory of homes that provide excellent returns on investment, the top villa communities in Sharjah also provide a convenient location for investors searching for bigger residential properties.
Because of the constant growth in the population of Sharjah and the continued development ambitions of the Sharjah Government, as well as the UAE’s ever-increasing tourist attractiveness, Sharjah real estate offers excellent investment and lifestyle opportunities.
Sharjah is not just a commercial centre; it is also the best city in the United Arab Emirates for families searching for economical housing or a place to call home in a less chaotic atmosphere. Sharjah’s apartment prices have traditionally been far lower than the costs of similar homes in Dubai, and this has continued into the present.