Dubai, United Arab Emirates: Metropolitan Premium Properties (MPP) – a full-service real estate agency and the Metropolitan Group’s flagship property company, has seen real estate prices in Sharjah go up 15-20 percent since the announcement by the Sharjah Executive Council to allow citizens of any country to own real estate of all kinds and uses in the Emirate. 

The Group recently opened its new office in Sharjah that will cover all of the Northern Emirates.

“The real estate market in Sharjah is more stable and is less prone to price volatility,” said Khaled Ahmed, Sales Director for Northern Emirates at Metropolitan Premium Properties. “The changes to the real estate law by the government of Sharjah have had a positive impact on buyer interest as the Emirate has witnessed a 30 percent increase in demand for off-plan and ready units. There is a lack of inventory in the market with prices of some villas even higher than in Dubai.”

Prices are expected to continue this upward trend with many new high-end communities and developments coming online including Masar and Haayan. The Emirate is also well-positioned to draw many tourists with numerous hospitality projects including ROVE and VIDA hotels. 

According to data available from the Sharjah Real Estate Registration Department real estate market transactions hit a high of AED 24 billion last year with as many as 91,507 transactions compared to 84,238 transactions in 2021 – an increase of 8.6 percent. 

MPP has seen majority interest from Indians who make up nearly 70 percent of the buyers followed by Pakistani and Arab buyers. There is also significant interest from Emiratis from Abu Dhabi, Ras Al Khaimah and Fujairah looking to buy second/holiday homes. 

The most in-demand properties range from AED 2-4 million with nearly 70 percent being end users. 

In addition to MPP in Dubai the Metropolitan Group also includes Metropolitan Capital Real Estate in Abu Dhabi, Luxury Immobilien GmbH, a real estate agency in Vienna and Metropolitan Consulting FZE, providing personal and business legal services in the UAE.