Foreign ownership of property in Sharjah

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Foreigners can own property in Sharjah at affordable prices

While many foreigners believe owning property in Sharjah is unattainable, the reality is quite different. Sharjah’s real estate market has become increasingly appealing to expats seeking investment opportunities.

Let’s explore the intricacies of foreign property ownership in Sharjah.

Why is Sharjah Relevant?

Sharjah, a historic and cultural hub, is the oldest emirate in the UAE. Its rich heritage and artistic scene attract visitors from around the world. But what makes it so desirable for residents and property owners?

  • Real estate in Sharjah provides greater value for the money than in Dubai or Abu Dhabi.
  • Art and culture flourish in Sharjah, where a wealth of museums, galleries, and events awaits those seeking inspiration.
  • The family-friendly atmosphere in Sharjah, with its excellent parks, schools, and resources, makes it a great place to nurture children.

Foreigners' rights to own property in Sharjah.

Are you a non-resident looking to buy a property in Sharjah? We can guide you through the process, ensuring you understand the local laws and regulations. Let’s explore the best investment opportunities in Sharjah’s real estate market. Ready to start? Let’s get going.

Understanding the legal rules for foreign real estate investment.

Interested in investing in Sharjah real estate? We’ll guide you through the legal intricacies to help you make informed decisions.

The Historical Background of Ownership

Sharjah’s foreign property ownership laws were once quite restrictive, limiting investors to either 99-year leasehold agreements or absolute ownership. This approach aims to safeguard the emirate’s cultural and economic identity

Recent changes to real estate laws that may impact your investments.

Foreign investors, take note! Sharjah has recently relaxed its property ownership laws, making it easier for non-residents to buy real estate in specific areas, particularly freehold zones.

His Highness Dr. Sheikh Sultan bin Muhammad bin Sultan Al Qasimi initiated this project to encourage foreign investment in Sharjah’s real estate market. A new law allows foreigners to lease land for up to 100 years, providing long-term security for their investments. This change enables foreign investors to purchase entire properties or rent commercial spaces in various areas of the emirate.

  • Innovation Park
  • Sharjah Media City
  • Sharjah Research Technology
  • Sharjah Publishing City
  • Sharjah Airport International Free Zone (SAIF)
  • Hamriyah Free Zone

Types of Properties That Foreigners Can Purchase

Ready to find your perfect home? Let’s dive into the different housing choices available to foreign buyers in Sharjah.

Residential Properties

Foreigners in Sharjah have a range of residential options available, from apartments and townhouses to villas. Depending on the area, you can choose to lease or purchase property.

Commercial property

Sharjah offers a promising business environment for foreign investors. You can find a variety of commercial properties, including office spaces, retail outlets, and warehouses, available for purchase or lease. These opportunities can help you establish and expand your business in this thriving emirate.

Buying Real Estate in Sharjah: A Guide for Foreigners

If you’re a foreigner looking to invest in Sharjah real estate, it’s crucial to understand the local regulations. This guide provides a comprehensive overview based on Executive Council Resolution No. 26 of 2014.

Learn About Ownership Restrictions: Foreign citizens and corporations cannot purchase real estate in Sharjah. However, they may obtain usufruct rights, granting them a maximum 100-year lease to use the land.

Register Usufruct Rights: The Sharjah Real Estate Registration Department mandates registration to establish usufruct rights. This crucial step safeguards your legal ownership and guarantees your rights are officially recognized.

Verify Designated regions: Before investing in a Sharjah property, confirm that it’s situated in a government-approved usufruct zone. This zoning system ensures that the land is used as intended in each region.

Get Approval: To ensure your usufruct rights are protected, you must obtain permission from the Ruler of Sharjah. This authorization is necessary to fully utilize the land.

Some Popular Investment Locations for Foreigners

Are you curious about the best places in Sharjah to invest in property? Join us as we delve into the areas attracting foreign buyers. 

Al Khan

Al Khan is a fantastic option, situated near the Arabian Gulf. Enjoy breathtaking waterfront views and easy access to major roadways, including a quick journey to Sharjah International Airport and Dubai.

Al Khan, a popular choice for foreigners seeking a modern lifestyle in Sharjah, offers a mix of delicious dining options, stunning beaches, and vibrant shopping destinations like Al Qasba and Safeer Mall. With an average flat price of AED 949,000 and a projected return on investment of 3.67%, Al Khan presents a promising opportunity for those looking to invest in property in the area.

Types of Apartments and Average Costs

  • One – Bedroom: AED 602,000
  • Two-bedroom: AED 905,000
  • Studio: AED 398,000

Al Majaz

Al Majaz, a vibrant neighborhood in the heart of Sharjah, offers easy access to major highways and bridges, connecting you to other emirates. Developed by the Sharjah Investment and Development Authority in 2010, this area boasts a stunning beachfront promenade and the picturesque Khalid Lagoon. With parks, jogging trails, the Al Majaz Amphitheater, and family-friendly dining options, Al Majaz is a popular choice for expats seeking a lively yet peaceful community. For investors, Al Majaz presents a lucrative opportunity, with lofts offering an impressive 6.12% return on investment at an average price of AED 784,000.

Types of Apartments and Average Costs

  • One -Bedroom: AED 342,000
  • Two -Bedroom: AED 602,000
  • Studio: Not available.

Al Nahda

Al Nahda’s prime location in Dubai offers commuters easy access to the city, making it a convenient choice. With its abundant amenities like public transport, shopping, schools, and healthcare, it’s a practical and enjoyable place to live, especially with its green spaces and strong sense of community.

Al Nahda presents an attractive option for foreign investors seeking apartments at affordable prices, with average prices of AED 587,000 and a promising ROI of 6%.

Types of Apartments and Average Costs

  • One Bedroom: AED 438,000
  • Two-Bedroom: AED 542,000
  • Studio: AED 180,000

Advantages of owning property in Sharjah.

Rent: Benefit from reliable rental income in Dubai, which is driven by the high demand from international employees.

Residence Visa: If you qualify for a residence visa, you can reside in the UAE and take advantage of its offerings.

Capital Appreciation: The increasing popularity of Sharjah among investors may lead to a rise in real estate values.

Quality of Life: Benefit from excellent healthcare, education, and recreational opportunities while embracing a diverse culture.

FAQs

1. Does Sharjah Let People of All Nationalities Acquire Entire Real Estate?

The recent real estate law change in Sharjah has opened up property ownership to foreign buyers from all countries. This update provides freehold homes with clear inheritance rights and is anticipated to draw significant interest from international investors, including those who are not Arab.

2. Is Sharjah on a lease, or is it a freehold?

Sharjah has officially opened its doors to freehold property ownership, allowing investors to purchase real estate outright. This significant change marks a departure from the previous system of long-term leaseholds, providing buyers with the full benefits of property ownership in the emirate.

Sharjah’s affordable cost of living and rich cultural heritage make it an increasingly attractive destination for global investors seeking both profitable investments and a welcoming community.

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