16 May 2016
Rental prices for one-bedroom apartments decrease 3.95% in Sharjah;Ajman witnesses a mild 1.85% drop and sale prices drop 7% in both Emirates

Rental prices of one-bedroom apartments in Ajman saw an overall decline of 1.85%. In-land districts such as Al Helio saw the steepest decline of 21% while Al Nahkil saw an increase of 10%

"This shows a leveling off of prices in Ajman, similar to its neighboring emirates. As housing has become more affordable, people are moving out of C or D grade rental properties (older properties) and upgrading to better spaces for the same budget." Ann Boothello, Senior Property Marketing Manager at dubizzle, explains.

In Sharjah rental prices for one-bedroom apartments declined by 3.95%. Al Qasba dropped from AED 46,000 to AED 40,000 and Al Nahda from AED 40,000 to 38,000, whereas three-bedroom apartments in Al Nahda remained the same.

Sales price per sq. ft. in Sharjah decreased overall by 7% from the same period the previous year; area most affected were Al Qasba that dropped by 39% compared to Q1 2015 · Sale price per sq ft. in Ajman also witness an overall decline by 7% compared to the same period the previous year.


Dubai, UAE - dubizzle - the UAE's leading property classifieds platform - reveals its first ever property report for the UAE's Northern Emirates, comparing Q1 2016 data to Q1 2015.

dubizzle.com has over over 5 million unique visitors a month, with an average of two visits per week, per visitor and an average duration of 16.5 minutes per visit, and over 1.5 million unique visitors to property section alone. dubizzle regularly analyses this large amount of data to share insights and trends each quarter across different areas of the business - including motors, items for sale, jobs and property.

This month, dubizzle has compiled its first Northern Emirates report highlighting key insights and trends across Ajman and Sharjah's property landscape. The health of Dubai's real estate market has a ripple effect on the property market in the northern emirates, predominately Sharjah and Ajman due to their close proximity. dubizzle's report findings indicate an overall decline of prices in Sharjah and a levelling off of prices in Ajman as housing are more affordable across the country.

Sharjah - a growing, affordable option for professionals working in Dubai

According to the Real Estate Registration Directorate of Sharjah**, real estate transactions in Sharjah witnessed a 44.6% increase in 2015 - worth AED 25.5 billion - and the Emirate saw an 42% increase in evaluation enquiries.

The Sharjah Investment and Development Authority, Shurooq, recently revealed that, when comparing 2014 and 2015 figures, Sharjah's real estate sector had successfully developed approximately 84.5 million square metres in land space, leading to the establishment of over 60 real-estate projects, this contributing to the leveling softening of property prices in the Emirate.

As such, the dubizzle report reveals that property rental prices in Sharjah's coastal areas -including Al Mamzar, Al Majaz and Al Qasba - have significantly decreased compared to Q1 2015, with a drop in prices per sq.ft. by 7%, 7% and 13% respectively. Similarly, Al Qasba witnessed a 39% decrease in sale prices per sq. ft.

Continued popularity of Northern Emirates amongst UAE residents

dubizzle is the biggest properties marketplace in the UAE, with over 1000 real estate agencies market their properties for rent and sale on the site.

As Ajman and Sharjah's popularity continues to rise amongst Dubai's employed residents and property-seekers, dubizzle will move forward to driving data transparency across the UAE to provide people with a more holistic view of the country's property landscape, as Ann Boothello, Senior Product Marketing Manager for Property at dubizzle, explains:  "Although dubizzle's data showed a significant decline in prices in certain districts in Sharjah, and Ajman, the overall decline is mild as these Northern Emirates still remain a viable option for UAE property seekers and offer more economical options than its neighbour Dubai for those UAE residents on smaller income brackets. As the UAE's leading property portal, we are able to draw out trends in the market, helping residents make better decisions on whether to buy or rent and which community and city would suit their budget."

Ajman - the most affordable emirate for property rental prices despite increases spotted in several districts

dubizzle's Northern Emirates report also reveals a drop in rental and sale prices across Ajman, with the Al Butain community experiencing a 43% decrease in sale price per sq. ft. and 19% decrease in rental prices per sq. ft while, in other areas such as Al Rashidiya, rental prices remained stable.

Ajman's Al Nakhil area witnessed an increase in rental prices across the board by 10% and 3% for one-bedroom and two-bedroom apartments respectively. The report also revealed an increase of 8% for one-bedroom apartments and 21% for two-bedroom apartments rental prices in Al Hamriya.

"Although rental prices increased by 10% in Al Nakhil, Ajman, the area is still more of an economical option than others, priced at AED 33,000 annually for a one-bedroom apartment. The increase in rental prices could indicate that, although prices are dropping across the emirates, there's no doubt Ajman housing is considered the most affordable; there are those who will not opt to upgrade their home at a time like this, and will instead grab the best deal to increase their long-term savings and live more comfortably, whether they are Ajman residents or from neighbouring cities, Sharjah or Dubai," Ann Boothello comments.

"With the highest price for a one-bedroom apartment rental in Ajman priced at an average of AED 39,000 and AED41,000 in Sharjah, these prices are non-existent in Dubai and are a significantly lighter blow to the wallet at 33% cheaper than a one-bedroom apartment in one of the more affordable districts in Dubai, International City and 200% cheaper than a one-bedroom apartment in prime district Downtown Dubai. The affordable rental prices in both Sharjah and Ajman indicates promising investment opportunities in the Northern Emirates should the legal framework be clearly defined to boost investor confidence," added Boothello.

2015 was a great year for dubizzle, with the classifieds platform listed in the top five most searched UAE brands*** and ranked as the eight most visited website in the UAE*, with over 5 million unique visitors per month. Last year, dubizzle reached almost 60% of the Internet population in the UAE, who visited four times a month for an average time of 16.5 minutes per visit, with 60,000 new ads posted live every day.

-Ends- 

* According to SimilarWeb in April 2016

** Al Bayan, April 2016

*** Google Trends Report for 2015

About dubizzle
dubizzle.com is the leading free classifieds website for users in the United Arab Emirates. Since its launch in 2005, dubizzle.com has become the number one platform for users to buy, sell, or find anything in their community. A community where underused goods are redistributed to fill a new need, and become wanted again, where non- product assets such as space, skills and money are exchanged and traded in new ways that don't always require centralized institutions or 'middlemen'. dubizzle.com is headquartered in the UAE.

dubizzle is an OLX company
 OLX is the world's leading classifieds platform in growth markets and is available in more than 45 countries and over 50 languages. OLX connects local people to buy, sell or exchange used goods and services by making it fast, easy and free for anyone to post a listing through their mobile phone or on the web. Every month, hundreds of millions of people in local markets around the world are already using OLX's online marketplace to find and sell a wide range of products, including furniture, musical instruments, sporting goods, cars, kids and baby items, motorcycles, cameras, mobile phones, property and much more. OLX operates in fast-growing markets around the globe, where OLX helps people improve their lives through smart person-to-person trade. OLX Arabia has an actively expanding existing presence in the MENA region in Bahrain, Egypt, Kuwait, Lebanon, Oman, Qatar and Saudi Arabia. OLX employs more than 1,200 committed employees worldwide located in places like Bangkok, Buenos Aires, Cape Town, Delhi, Jakarta, Lagos, Lisbon, Manila, Nairobi, Poznan, Rio de Janeiro and São Paulo.

Media enquiries:
Abdallah Touqan
Senior PR & Communications Lead
Abdallah@dubizzle.com 
+971 55 9866 891

OR

Grayling PR
dubizzle@grayling.com
+971
(4) 360 0527

© Press Release 2016