UAE Real Estate: Is Now the Right Time to Invest in Sharjah Property?

Sharjah has recently implemented new real estate laws to enhance tenant protections and attract residents and businesses. Key features include extended eviction safeguards and a three-year rent freeze, sparking interest among industry experts who see potential benefits for the property market.

?????? ?????????????????????? ????????????????:

In late September, Sharjah introduced Law No. (5) of 2024, affecting residential, commercial, and industrial leases. Notably, landlords cannot increase rents for three years without tenant agreement. If they do, the rent cannot be raised again for two years, providing stability for tenants.

Landlords are also required to certify lease contracts within 15 days. The law clarifies landlord and tenant obligations, outlining specific reasons for eviction, including non-payment and unauthorised use.

???????????? ????????????????????????:

Experts note that the new laws could enhance Sharjah’s attractiveness, particularly amid rising rents in neighbouring Dubai. Haider Tuaima of ValuStrat highlights that many Dubai residents are relocating to Sharjah for its affordability and lifestyle.

Muhammad Qasim Ikhlaq from Betterhomes calls the three-year eviction protection a “forward-thinking” move, benefiting both tenants and landlords by ensuring longer-term occupancy. He also emphasises the five-year commercial rent protection as a significant advantage for businesses.

While the laws provide immediate benefits, concerns exist about potential rent spikes after the three-year freeze ends, which could lead to substantial increases for tenants upon renewal.

???????????? ??????????????:

Experts agree that Sharjah's appeal primarily lies in its affordability rather than the new laws alone. With high occupancy rates and strong demand, more housing supply is necessary to meet market needs. Areas like Majaz and Al Khan remain popular, while new developments are attracting interest due to relaxed ownership laws.

Overall, the new regulations aim to create a balanced market, benefiting both tenants and landlords while fostering a more sustainable real estate environment in Sharjah.

Interested in property investments in Sharjah or any other emirate of the UAE?

Let Silver Oak Properties guide you. Our industry experts are here to provide you with the best opportunities and insights to make your investment successful.

Contact us today and take the first step toward your real estate goals!