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Sharjah recorded 61,357 real estate transactions in 2019, up 13.4% compared to 2018, according to data from the Sharjah Real Estate Registration Department (SRERD).
The value of transactions at AED 24.2 billion also increased 7.3% in comparison to the previous year.
A total of 11,535 title deeds transactions worth AED 9.6 billion were recorded. Among others were 3,760 mortgage transactions worth AED 14.6 billion, 963 valuation transactions, and 5,272 initial sales transactions.
Residential properties recorded the highest sales, constituting 69.4% of total transactions, followed by commercial properties at 15.9%, with industrial at 11.8% and agricultural at 2.9%.
Most of Sharjah city real estate sales transactions were recorded in Muwaileh Commercial, Al Khan, Al Nahda and Hoshi areas.
“However, the highest number of the Sharjah city real estate sales transactions recorded last year was in Muwaileh Commercial Area where 567 dealings, worth AED 1.2 billion were recorded,” said Abdulaziz Ahmed Al Shamsi, director-general, SRERD.
Cavendish Maxwell is the MENA region’s leading firm of property consultants and chartered surveyors. If you are looking for professional real estate consultation or advice on property related matters, please view our services.
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