Sharjah, one of the seven emirates in the UAE, is arguably the country’s cultural capital and has a lot to offer. You will find a mix of population in the city, comprising both localities and foreigners. During the last few years, many foreigners have poured into the city to make it their home, driven by the fantastic lifestyle.
One of the remarkable things about staying in Sharjah is affordable housing. Life in the city is comfortable, and you can also save money.
If you have been pondering about relocating to Sharjah, you can start looking to purchase a property in the city. There are many real estate options for investors to choose from a wide range of properties for sale in Sharjah.
A Bit of Sharjah
Sharjah is close to Dubai and has various real estate options for investors. There are many new housing projects in the city in areas with everything you need to run your family.
The city offers a fantastic lifestyle with many restaurants, museums, theaters, and educational institutes.
When it comes to choosing a property to buy in the city, you get everything under the real estate roof—villas, townhouses, apartments, etc. And each property stands apart in terms of unique perks and benefits. For example, many houses have a servant’s room and large storage space. Besides, most properties are located near schools, parks, and malls.
One of the appealing aspects of buying a property in the city is that there will be no hassles searching for a suitable property to purchase. As the city’s real estate market is growing impressively, you will be able to spot a property quickly.
Besides, affordability is a big appeal in the city.
Property Buying Regulations
When you set out to purchase a property in Sharjah, you will find it a smooth affair as there is no rigidity in the regulations.
Way back in 2014, the UAE government relaxed the regulation associated with property ownership in Sharjah, allowing people of all nationalities to purchase real estate properties in the city and the adjoining areas.
Sharjah is an attractive place to own a property, mainly due to the twin aspects of a fantastic community and culture. The city is growing, and there has been an emphasis on creating convenient and sustainable properties.
Things were different before the modification to the real estate policy in 2014. Only Emiratis and Arabs can purchase real estate properties in Sharjah, but foreigners cannot. The rule’s relaxation opened doors to foreigners to buy properties in the city. However, the new rule does not allow non-GCC Arab nationals to purchase not more than five properties in the city.
The regulations also allowed foreign investors without residency visas to buy properties in Sharjah.
There are limitations within the city where non-Arab foreigners can purchase a property. So take real-estate agent guidance, if you are such a foreigner, when looking for areas in the city to buy a property.
Benefits of Property Purchase in Sharjah
Owning a property in Sharjah comes with convenience and flexibility. If you work in Sharjah and stay in your property, you will find yourself in a deeper part of the community. And there are other beneficial aspects of owning a property in Sharjah. You can make adjustments or repair your property without any permission from anyone. And if you ever decide to sell your property, you will be able to profit from your investment.
You can also rent out your property if you buy a second home. In this way, you can also make money from your property.
Renting out your property is appealing in the city. Many people who work in Dubai prefer staying in Sharjah as living costs are rising in Dubai, and it is easy to commute from Sharjah. Although rents are lesser than in Dubai, the rents and demand for rental properties in Sharjah are strong.
But before you purchase a property for renting it, there are a few things you need to know beforehand.
You have to buy a property to rent it; you need to register the property and tenant agreement with the Sharjah Real Estate Registration Department. Besides, rent is fixed for the first three years, so you can raise the rent subsequently if you want.
How to Find a Property?
If you are looking for a Sharjah property, there are no hassles. You will find it a smooth affair with the availability of reliable web platforms that free you from visiting different places in search of your dream property.
But, it is a good idea to seek advice from experienced real estate agents to know the nitty-gritty associated with buying a property in the city. Before finalizing a property, ensure that you make a visit to the property to see that everything is alright. Also, check with the real estate developer for all compliances with the existing rules.
Whether you are looking for an apartment, townhouse, or villa, Sharjah has it all.