Real Estate in Sharjah: If you are thinking about buying a property in Sharjah, you may not find a more incredible time to start a search. Sharjah offers a wide variety of real estate options for investors and pre-patents.
If you are interested in purchasing property on rent or you are considering moving to Sharjah permanently, you will find that you have many options available.
Real Estate in Sharjah
Choosing Sharjah
Sharjah is located close to Dubai and boasts many facilities that real estate gurus are sure to love. There have been many new developments: It has its all-inclusive community which provides you with everything you need.
There are a variety of restaurants, museums, theaters, and educational options for adults looking for a new place to stay in Sharjah. If you are more interested in the business side of real estate, you would love to know how many property options there are in Sharjah.
You will be able to choose from villas, townhouses, and apartments. Each property has its unique benefits and benefits that make it stand out. For example, many properties come with a maid’s bedroom and additional storage space.
Probably the most attractive aspect of buying real estate in Sharjah is that because it is a place that is coming up, you will be able to get a bigger piece of property. There are many new developments in place that offer sleek, modern qualities.
Buying property in Sharjah
In 2014, the government opted to adjust the rules regarding the ownership of the real estate in Sharjah. The move made it possible for all nationalities – not just the Ameritas and Arab citizens – to buy real estate in Sharjah and its surrounding areas.
Sharjah is an incredibly attractive place for its wealth, partly due to its incredible community and partly due to its focus on the future. It is an up-and-coming city, with an emphasis on making local people and ancestors a permanent and attractive place to enjoy.
Before the adjustment in Sharjah’s real estate policy, things were very different. Foreigners were not able to buy property within Sharjah. Before the Sharjah Executive Council issued Resolution No. 26 of 2014, only the rich and Arab citizens were able to purchase and own real estate. The new resolution opens many doors for foreigners who want to buy real estate in the Emirate.
For example, the resolution means that both GCC and non-GCC Arab citizens purchase property in Sharjah. However, it is important to note that non-GCC Arab citizens can buy only five properties.
Due to the recent change in the rules, it is now possible for foreign investors to buy property in Sharjah without a residency visa.
Additionally, it is important to note that there are boundaries within the city where non-Arab ex-patrons can purchase property, so make sure that when you want to select the area, you refer to the guidance of your real estate agent. Is in
Buying benefits
If you are considering a move to Sharjah, you can love knowing that you can have the freedom and flexibility to keep your possessions. If you want to live and work in Sharjah, property ownership can help you feel like a deeper part of the community. Ownership of property enables you to make any adjustments that you want in your home, as well as without the permission of a landlord.
Additionally, if you ever decide to sell your property, you can make a profit from your investment. This is a selling point for many buyers who want to know that they can return their money.
For buyers who are interested in renting properties, Sharjah also holds an incredible appeal. Due to the rising cost of working and living in Dubai, many ex-residents and residents live in Sharjah, but each day there is uproar.
While the cost of rent in Sharjah is generally lower than in Dubai, prices remain strong and rental properties are in demand. If you choose to purchase a property to rent it, note that you must register your property and your tenant agreement with the Sharjah Real Estate Registration Department. The rent in Sharjah is at a fixed rate for the first three years. After that, if you choose to do so, you can increase the rental cost.
Important Tenancy Law
Tenancy laws, rules, and legislation must be about you before you rent in Sharjah.
1. Number of occupants in a unit
The most important tenancy law that you should know is the number of people living in a housing unit.
To maintain the privacy of families, the Sharjah City Municipality has strictly developed and confirmed that the number of people allowed to occupy a unit varies depending on the size of the property.
According to Sharjah’s rental laws, tenants will be asked to declare the number of people living in the unit while renting the property. The number of people allowed to occupy the property is as follows:
- Studio Apartment: 3 people only.
- One-Bedroom Apartment: 4 people only.
- Two-Bedroom Apartment: Maximum 6 people.
- Three-Bedroom Apartment: Maximum 9 people.
2. Graduate Housing Area in Sharjah
Sharjah was implemented to reduce the number of workers living illegally in the Emirate, where low-income bachelors or laborers were not strictly permitted to live in residential neighborhoods or family areas.
However, high-income executive graduates, including professionals such as doctors and engineers, may live in residential or commercial buildings with the owner’s consent.
3. Fare hike rules by Sharjah Municipality
According to Sharjah’s tenancy laws, tenants are guarded by an annual rental increase, where landlords can only increase the rent after three years from the start of the tenure contract.
It is important to note that there is no cap on fare increases, although this should be consistent with similar properties in the area. After the first addition, landlords can only raise the rent every two years.
4. Tenants terminate the lease early
By law, tenants cannot terminate a tenancy agreement before the expiration date, except for the occurrence of a force majeure (beyond your control). Otherwise, tenants are legally required to complete the lease by the end of their term.
In the case of a Force Major event, the tenant must pay the landlord an indemnity amount that is not less than 30% of the rental price of the remaining term of the lease, unless it is otherwise agreed to by both parties.
The final decision will be taken from the Sharjah Rental Dispute Committee (RDC), the only authority that handles such cases, to determine whether it qualifies as a force majeure incident.
5. Default on payment of rent of tenants
To protect the rights of tenants in the Emirate, Sharjah laid down the following rental rules, which every tenant should know:
- All required property must be maintained by the landlord. However, tenants are responsible for the minor maintenance of the unit, unless it is agreed otherwise in the rental contract.
- If the owner decides to sell the apartment or building, the lease contract between the landlord and the tenant should not be affected under the new ownership. This also applies in the case of the death of the owner.
- Landlords must have the appropriate permission from Sharjah City Municipality to terminate the tenant contract and provide three months’ notice to the tenant.
- Landlords can terminate a tenancy contract only under the following circumstances:
- Demolition of property or complete maintenance requiring eviction.
- Occupy the property for private use and there is no other suitable dwelling.
- All properties must meet the specifications mentioned in the tenancy contract. Tenants have the right to claim that they found any deficiency in facilities or maintenance.