64.4 thousand transactions were recorded, with an annual growth of 5.1%
AED 15.9 billion Sharjah real estate transactions in 2020
The city of Sharjah acquired the largest share of sales transactions.
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Abdulaziz Al-Shamsi: "The decision to reduce the fees of non-Gulf buyers led to an increase in sales transactions for Arab investors."
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The Sharjah Real Estate Registration Department revealed that the total value of real estate transactions in the emirate amounted to 15.9 billion dirhams last year, with the number of transactions reaching 64,459 transactions, a growth of 5.1%, compared to the total transactions in 2019.
The Director General of the Sharjah Real Estate Registration Department, Abdulaziz Ahmed Al Shamsi, said in a press statement yesterday that the annual report of the movement of real estate transactions in the emirate during the year 2020 showed that 3773 sales transactions were recorded, compared to 3328 transactions recorded in 2019, an increase of 13.4% by an area Total amounted to 56 million square feet.
Sharjah
Al Shamsi added that the city of Sharjah acquired the largest share of these transactions, as last year witnessed a great diversity in trading throughout the city, explaining that the number of areas that were traded reached 100 areas, through 3,292 sales transactions worth 4.6 billion dirhams.
He indicated that the areas of “Hoshi”, “Al Khan”, “Al Nahda”, “Al Tayy” and “Al Majaz 3” were the most traded areas, with a percentage of 60.4% of the total sales transactions in Sharjah.
Khorfakkan
Al Shamsi pointed out that the city of Khor Fakkan witnessed in turn the registration of 127 sales transactions in 15 areas of the city, at a value of 88 million dirhams, while the city of Dibba Al-Hisn recorded 36 sales in five areas, valued at 27 million dirhams, while the number of sales transactions in Kalba city reached 193 transactions. In 28 regions, with a value of 92 million dirhams, while the number of sales transactions in the central region reached 125 transactions in 40 different regions, with a value of 108 million dirhams.
Type of property
Al Shamsi explained that by classifying sales transactions according to the type of real estate, residential real estate acquired the largest share of the total real estate traded during the year 2020, as it came in first place with a rate of 75.3%, and it is divided into residential vacant lands by 1006 properties, residential apartments by 901 properties, then lands. Residential building with 712 properties.
He mentioned that commercial real estate came second with 11.1% of the total traded real estate, followed by industrial real estate at 10.4%, followed by agricultural real estate that did not exceed 3.2%.
Title deeds
Al-Shamsi stated that the number of property document transactions amounted to 12 thousand and 248 transactions during the past year, while initial sale contracts recorded 4,644 transactions, while mortgage transactions witnessed 2,745 transactions valued at 7.3 billion dirhams, while the number of property certificate transactions reached 39,444 transactions. Moreover, the valuation transactions recorded 765 transactions, and the number of other transactions reached 4,613.
Reducing fees
Al-Shamsi pointed out that the decision to reduce fees for non-GCC real estate buyers from 4% to 2% of the sale value led to an increase in sales transactions for Arab investors, with a growth rate of 32.5% after its implementation last year.
Investors
The Director General of the Sharjah Real Estate Registration Department, Abdulaziz Ahmed Al Shamsi, said that the total number of nationalities of investors in the real estate sector in Sharjah reached 61 nationalities during 2020, explaining that Gulf investors, including Emiratis, reached 11,230 investors, as the number of traded real estate Before them, 14,583 properties valued at 12.9 billion dirhams, while the number of investors of other nationalities reached 2,189 investors, as they pumped three billion dirhams into 2,303 properties.
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