Reportage on Ajman UAE Properties: Real Estate Market Trends (2018-2024)

Published Date: 22 Sep, 2024

Ajman, one of the most promising emirates in the UAE, has witnessed substantial growth in its real estate sector over the past five years. In this reportage on Ajman UAE properties, we explore the year-by-year evolution of property prices for apartments, villas, and land across key areas such as Ajman Downtown, Ajman Corniche, Al Nuaimiya, and Al Jurf.

Ajman Downtown: Growth in Affordable Housing

Ajman Downtown remains a top choice for affordable housing.

  • 2018: Prices ranged from AED 350-400 per square foot.
  • 2019: Prices increased to AED 370-410 per square foot.
  • 2020: Prices fell slightly to AED 320-380 per square foot due to market adjustments.
  • 2021: Prices recovered to AED 390-420 per square foot.
  • 2022: Demand increased prices to AED 420-450 per square foot.
  • 2023: Peak prices reached AED 450-500 per square foot.
  • 2024: Prices are expected to rise further to AED 480-520 per square foot due to ongoing development and demand.

Land Prices: Residential land was AED 150-200 per square foot in 2018, growing to AED 300 per square foot by 2023. Forecasts for 2024 suggest a rise to AED 350 per square foot.

Al Nuaimiya: Popular Mid-Tier Residential Area

Known for its affordable residential properties and strong rental yields, Al Nuaimiya continues to attract investment.

  • 2018: Prices ranged from AED 300-350 per square foot.
  • 2020: Prices dipped to AED 280-320 per square foot.
  • 2023: Prices stabilized at AED 350-400 per square foot.
  • 2024: Projected prices are expected to increase to AED 370-420 per square foot as rental demand grows.

Land Prices: In 2018, land prices were AED 180 per square foot, rising to AED 240 in 2023. 2024 is expected to see land prices reaching AED 260 per square foot.

Ajman Corniche: Luxury Waterfront Properties

Ajman Corniche continues to be a prime location for high-end beachfront properties.

  • 2018: Apartments ranged from AED 500-550 per square foot.
  • 2020: Prices dipped to AED 450-500 per square foot due to market adjustments.
  • 2023: Prices reached AED 600-650 per square foot.
  • 2024: Prices are expected to rise further to AED 630-700 per square foot due to limited availability and increased demand for waterfront living.

Land Prices: Waterfront land started at AED 800 per square foot in 2018, rising to AED 1,000 by 2023. Projections for 2024 suggest prices may reach AED 1,200 per square foot.

Al Jurf: Rising Industrial and Mixed-Use Hub

Al Jurf is becoming a key industrial and mixed-use hub in Ajman, with growing residential demand.

  • 2018: Apartments were priced between AED 250-300 per square foot.
  • 2020: Prices fell slightly to AED 230-280 per square foot.
  • 2023: Prices rose to AED 350-400 per square foot.
  • 2024: Industrial development is expected to increase prices to AED 380-430 per square foot.

Land Prices: In 2018, land prices were AED 120 per square foot, increasing to AED 200 in 2023, with forecasts suggesting AED 230 per square foot in 2024.

Al Rashidiya: Affordable Family Living

Al Rashidiya offers affordable residential options, making it a family-friendly location with consistent demand.

  • 2018: Apartment prices averaged AED 280-320 per square foot.
  • 2020: Prices dropped to AED 260-300 per square foot.
  • 2023: Prices reached AED 340-370 per square foot.
  • 2024: Prices are expected to rise to AED 360-390 per square foot as demand for family homes grows.

Land Prices: Residential land started at AED 130 per square foot in 2018, rising to AED 180 by 2023. Prices are expected to hit AED 200 per square foot in 2024.

Investment Outlook for 2024

Ajman’s real estate market shows promising growth, particularly in areas like Ajman Downtown, Ajman Corniche, and Al Jurf. With a growing demand for both affordable and luxury properties, investors can expect further price increases, especially in waterfront properties and mixed-use hubs. 2024 presents excellent opportunities for those looking to invest in residential and industrial lands.

ALand: Your Smart Investment Partner in Ajman

For investors looking to take advantage of Ajman’s thriving real estate market, ALand (https://a.land) provides expert advice, real-time data, and exclusive property listings. Whether you’re interested in affordable apartments, luxury waterfront villas, or industrial land, ALand offers the tools and insights needed to make informed decisions in Ajman’s growing market.

Discover the potential of Ajman’s real estate market with ALand and seize the investment opportunities in 2024.




Date: 22 Sep, 2024

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