Report: These included Al Nahda, Al Majaz, Muwailih, Al Butina and Al Qasimia
5 areas with the highest demand for rent in Sharjah in 2020
Decrease in average rental values in Sharjah during 2020 compared to 2019. From the source
A recent report by Dubizzle and Bayut, which specializes in real estate services, showed that there are five areas in Sharjah that formed the highest demand at the level of rents during the past year, with a drop in average rental values. He explained that these areas are in order: Al Nahda, Al Majaz, Muwailih, Al-Butina, and Al-Qasimia.
According to the report, of which Emirates Today obtained a copy, most areas of Sharjah witnessed a decrease in 2020 compared to 2019.
Al Nahda
Last year, Al Nahda topped the list of the most sought-after residential areas when searching for apartments for rent in Sharjah. The average annual rent for studio apartments in Al Nahda was 17,000 dirhams, while the rent for one-room apartments decreased by 7.4% compared to 2019, as the average The annual rent is 25 thousand dirhams, and the rent of two-bedroom apartments in the same area decreased by 5.7%, with the average rent reaching 33 thousand dirhams annually.
Metaphor
According to the report, "Al Majaz" came in second place, as it witnessed a decrease in the rental values of some units, while others stabilized.
The average annual rent for the studio was 17 thousand dirhams annually, a decrease of 5.6%.
One-room apartments also witnessed a decrease of 3.8% in the average rent, to reach 25 thousand dirhams in 2020, as for the rent of two-bedroom apartments in Al-Majaz, the average rent has stabilized at 34 thousand dirhams annually.
Muwailih
For its part, Muwaileh ranked third, as the region witnessed a decrease in rental rates, with a decrease in studio rent by 14.3%, bringing the average rent to 12 thousand dirhams annually.
As for one-room apartments, the average annual rent is 20 thousand dirhams, while two-bedroom apartments for rent in Muwailih witnessed a decrease of 10.8%, with the average annual rent reaching 33 thousand dirhams.
Bu Tina
The report pointed out that studio apartments in Al Butinah area also witnessed a decrease in rental rates, during the past year, by 15.4% compared to 2019, with an average annual rent reaching 11,000 dirhams.
The rents of one-room and lounge apartments in Al-Butina, whose average rent was 18,000 dirhams, also decreased by 10%.
Al Qasimia
As for the Al-Qasimia region, the average rent percentage decreased in it last year, as the average studio rent was 16 thousand dirhams, a decrease of 11.1% compared to 2019, while the average annual rent for 1-room apartments was 20 thousand dirhams, a decrease of 13%.
stability
A report by “Dubizzle” and “Bayut” stated that there are areas in Sharjah that have witnessed stability in the average annual rent during the past year, including the “Muwaileh Commercial” area, in which the rents have stabilized for two-room apartments at 34 thousand dirhams annually, indicating that this was the case. The case for studio apartments in Al Taawun, where the average annual rent has stabilized at 17,000 dirhams.
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