Villa Rents In Sharjah Expected To See Continued Growth Of 1-2% During 2018, Says Cluttons

Villas in Sharjah have continued to buck the wider trend of retreating rents in the emirate’s residential rental market, recording an increase of 1.7% and taking the rate of growth to 0.4% during the last quarter of 2017, according to international real estate consultancy, Cluttons.

Cluttons’ Sharjah Property Market Snapshot for Spring 2018, shows that over the last two years, Sharjah’s villa market has grown in both profile and popularity as the real estate market repositions itself with new and affordable options. This trend is helping retain the emirate’s appeal and attractiveness amongst those households that have been priced out of Dubai, or are seeking a more family oriented lifestyle.

Suzanne Eveleigh, Cluttons’ Head of Sharjah, commented: “Communities such as Al Zahia have been a runaway success and with most major new shopping mall developments in Sharjah anchoring these new lifestyle destinations, the future of community living in the emirate appears relatively buoyant, especially when compared to many other property segments in the UAE.”

In contrast to the villa market, apartment rents in Sharjah registered a steep decline of 13.6% in rents, in the last quarter of 2017, compared to a decline of 10.6% in 2016, on average. Cluttons’ research shows that Abu Shagara topped the list of weakest performers, with rents retreating by an average of 15.1% during 2017.