Apartments in Majaz, Al Khan are in demand

Staff Report dubai — Apartments in Sharjah have witnessed a year-on-year decrease in rents in the first 9 months of the year, reveals dubizzle Property.

Studio apartments in Al Majaz were identified as the most affordable option, averaging at Dh22,000 per year, witnessing a decrease of 10 per cent compared to last year. This is followed by Al Majaz 3 at Dh22,400 per year (-10 per cent drop since last year) and Al Khan at Dh23,000 (-15 per cent since last year), as per dubizzle Property data.

For those searching for 1-bedroom apartments, Al Khan was identified as the most affordable option, averaging at Dh30,200 per year (-11 per cent year on year), followed by Al Majaz at Dh30,400 (-13 per cent), Al Majaz 3 at Dh31,000 (-14 per cent) and Buhaira Corniche at Dh34,000 (-13 per cent). Twobedroom apartments witnessed similar trends, with apartments in Al Khan averaging at Dh37,400 (-11 per cent), Al Majaz at Dh39,000 (-13 per cent), Al Majaz 3 at Dh44,000 (-7 per cent) and Buhaira Corniche at Dh48,000 (-16 per cent).

Three-bedroom apartment rents in Al Khan stood at an average of Dh51,400 (-24 per cent) making them the most affordable location near the Corniche, followed by Al Majaz 3 averaging at Dh55,000 (-9 per cent), Al Majaz at Dh61,000 (-2 per cent) and Buhaira Corniche at Dh72,000 (-13 per cent). — business@khaleejtimes.com