Ajman's Real Estate Boom: A 50% Leap
Ajman on the Rise: 50% Increase in Rental Contracts as Residents Escape Dubai and Sharjah's Rising Rents
One of the smallest yet rapidly growing emirates in the UAE, Ajman is gaining significant attention from residents and investors alike. In 2024, the number of rental agreements increased by 50%, highlighting not only the city's rising popularity but also the growing number of people seeking affordable yet high-quality alternatives to Dubai's and Sharjah's escalating property markets.
Why are more people moving to Ajman?
Ajman's municipal government and planning office reported that in 2024, the total value of rental transactions reached 4.929 billion dirhams, representing an increase of 1.646 billion compared to 2022 data. This surge reflects the changed preferences of residents and investors: many wish to live in a more affordable yet modern environment.
The city welcomes new residents with modern infrastructure, expanding services, and a vibrant community life. Advanced utilities, new shopping centers, restaurants, parks, and schools contribute to its appeal. The increase in rental demand in 2024 was remarkable not only in residential but also in commercial and investment contracts.
Modern Living at an Affordable Price
A primary factor making Ajman attractive is its affordability. Rental prices remain significantly lower than equivalent properties in Dubai or Sharjah. Moreover, flexible payment plans, including up to seven years of interest-free installments, make the city more appealing to families and young couples.
Various parts of the city, such as the Al Yasmine district, have undergone significant development and now attract new residents with their community events, dining, and shopping options, as well as 1-dirham stores.
Digital Services Play an Increasing Role
As part of Ajman's smart city concept, there is a strong focus on developing electronic and digital services. A substantial portion of rental agreements can now be completed online, minimizing the necessity of in-person presence. The administration is described as smooth, with officials often lauded as courteous and professional.
This transparency and speed attract not just residents but also investors to the city. Ajman Municipality aims to further enhance the customer experience through integrated systems and support sustainable and balanced urban development with smart solutions.
Increasingly Interesting from an Investor's Viewpoint
Ajman offers alternatives not just in terms of housing; the rise in commercial and investment contracts indicates that the city attracts more investors. A stable economic environment, competitive pricing, and favorable regulatory background contribute to the emirate gaining a more prestigious place in the UAE real estate market.
The city's strategic location is also an advantage, easily accessible from Dubai and Sharjah while offering all essential services on its own merit. With independent shopping centers, schools, health centers, and family recreational facilities, Ajman is not just a dormitory town but a full-value alternative.
By the Numbers
In 2024, the number of processed rental contracts was:
100,236 residential contracts
37,855 commercial contracts
269 investment contracts
These figures clearly show Ajman's growing role as not only a residential area but also as an economic and business center.
Summary
Ajman's rapid development and 50% increase in rental contracts reflect changes in the UAE property market. Favorable rental prices, modern infrastructure, efficient administration, and a friendly community environment all contribute to more people choosing this emirate as their new home. Whether looking as a resident or an investor, it's clear that the city's future holds promise.
