Sharjah has traditionally been a culturally rich and family-oriented emirate in the UAE, known for its affordable lifestyle compared to Dubai and Abu Dhabi. While real estate investment in Sharjah was once limited to UAE nationals and GCC citizens, recent reforms have changed the landscape for expatriates. Now, foreign investors can buy property in Sharjah, providing an excellent opportunity for those looking to invest in one of the UAE’s fastest-growing real estate markets.
In this guide, we’ll explore how expatriates can buy property in Sharjah, the types of ownership available, and the benefits of investing in this thriving market.
Can Expats Buy Property in Sharjah?
Yes, expatriates can now buy property in Sharjah! In 2014, Sharjah introduced a law allowing expatriates to purchase property on a 100-year leasehold basis. This law opened doors for non-UAE nationals, allowing them to lease residential units for an extended period, after which the lease can be renewed.
The major breakthrough, however, came in 2018 when Sharjah further relaxed its property laws, permitting expatriates and foreign nationals to own freehold properties in designated areas. This shift gave foreigners the ability to own property outright in specific developments across Sharjah.
Types of Property Ownership for Expats in Sharjah
- 100-Year Leasehold Ownership:
Expatriates of all nationalities are allowed to buy property on a 100-year leasehold basis in Sharjah. Under this agreement, foreigners have the right to use the property for 100 years, and they can renew the lease upon its expiration. This form of ownership is especially popular among expatriates seeking long-term stability in the emirate. - Freehold Ownership in Designated Areas:
Sharjah has designated several areas where expatriates can buy property on a freehold basis, allowing them full ownership rights without time restrictions. Freehold property is ideal for investors looking for long-term ownership, similar to Dubai’s property laws.
Popular Areas for Expats to Buy Property in Sharjah
Sharjah has several key locations where expatriates can buy properties, either on a leasehold or freehold basis. Some of the most popular areas include:
1. Aljada
Aljada is a master-planned community developed by Arada and is one of the largest and most prestigious developments in Sharjah. It offers a variety of residential units, including apartments, townhouses, and villas, catering to expatriates and investors seeking modern, sustainable living.
2. Maryam Island
Maryam Island, developed by Eagle Hills, is a luxury waterfront destination featuring premium apartments with stunning views of the Arabian Gulf. Its prime location, coupled with high-end amenities and connectivity to the rest of the UAE, makes it a popular choice for expatriates looking for an exclusive living experience.
3. Tilal City
Tilal City is an expansive mixed-use development offering both residential and commercial plots. It is the first project in Sharjah where non-Arabs can purchase freehold land, making it a unique opportunity for foreign investors. With its proximity to key highways and modern infrastructure, Tilal City is a great option for both personal use and business ventures.
4. Muwaileh
Muwaileh is an increasingly popular residential area, particularly among expats and families. Its close proximity to educational institutions and Sharjah University City makes it ideal for students and young professionals. Investors can expect strong rental yields due to the high demand for student housing.
Benefits of Buying Property in Sharjah for Expats
- Affordability:
Sharjah offers significantly more affordable real estate prices compared to Dubai, allowing expatriates to enter the property market with a lower investment. Whether buying for personal use or rental purposes, the lower cost of properties in Sharjah provides excellent value for money. - Strong Rental Yields:
Due to Sharjah’s growing population, particularly from expatriates working in Dubai but living in Sharjah, rental demand is high. Expats who invest in Sharjah properties can expect solid rental yields, especially in popular residential areas like Aljada and Muwaileh. - Proximity to Dubai:
Sharjah’s strategic location next to Dubai allows easy access to the UAE’s business capital while benefiting from Sharjah’s lower property and living costs. Many expatriates working in Dubai prefer to live in Sharjah due to the financial savings and family-friendly environment. - Long-Term Investment Potential:
Sharjah’s real estate market has shown steady growth, driven by government initiatives, infrastructure development, and an influx of foreign investors. This growth makes Sharjah an attractive destination for long-term investment, with significant capital appreciation expected in areas like Aljada and Maryam Island. - Cultural Appeal and Quality of Life:
Sharjah is renowned for its cultural heritage, museums, and family-oriented atmosphere. For expats who value cultural immersion and a quieter lifestyle, Sharjah offers a high quality of life, with well-maintained parks, beaches, and cultural landmarks.
Steps for Expats to Buy Property in Sharjah
- Choose a Property in the Designated Area:
Expatriates can only purchase property in specific areas or developments that are approved for foreign ownership. It’s important to select a project that meets your investment goals and personal preferences. - Work with a Reputable Developer:
Ensure that the property is being developed by a reputable real estate company, such as Arada, Eagle Hills, or Tilal Properties. These developers have a track record of delivering high-quality projects that appeal to expatriates. - Legal Advice and Due Diligence:
It is advisable to consult with a legal expert who specializes in UAE real estate to ensure you understand the terms and conditions of your purchase. Leasehold and freehold contracts may vary, and having proper legal guidance ensures a smooth transaction. - Finance the Purchase:
Expatriates can either purchase property with cash or secure a mortgage through a UAE bank. Several local banks offer financing options to expatriates, subject to eligibility criteria. - Register the Property:
After purchasing the property, you must register it with the Sharjah Real Estate Registration Department to formalize the transaction and receive the property title deed.
Conclusion
Sharjah’s real estate market has evolved significantly, providing new opportunities for expatriates and foreign investors. With its affordable pricing, diverse property options, and proximity to Dubai, Sharjah is an attractive choice for expats looking to buy property in the UAE. Whether you’re seeking a home for your family or an investment for rental income, Sharjah’s emerging freehold and leasehold markets offer plenty of potential.
Interested in buying property in Sharjah? Explore the best developments and take advantage of the exciting investment opportunities available in this dynamic emirate!
