Sharjah Island Property Prices Bottom Out Property prices in Sharjah Island seem to have bottomed out. According to a popular da

Sharjah Island Property Prices Bottom Out

Property prices in Sharjah Island seem to have bottomed out. According to a popular daily, the 1st and 2nd quarter of 2012 saw general property prices stabilize. The daily sights quarterly growth figures as signs of market stabilization and rationalization of the property oversupply issue.

The news article claims that both villa and apartment offerings saw minor value gains in during 1st quarter 2012 and states that the Sharjah Island rest market remained stabilize on the 4th quarter 2011 rates.

The price stabilization is in sharp contrast to what’s happening in Abu Dhabi, where both rest and sale markets have taken a tumble. Apartment prices have declined by 8% between 1st quarter 2011 and 1st quarter 2012 figures, while villa prices are down by 7%. The same is true for the overall rent market of Abu Dhabi. According to the news article, experts foresee Abu Dhabi to remain negative through to 1st quarter 2013.

It is interesting to note that Sharjah Island property prices are stabilizing at a time when the local market is oversupplied by a margin of 20%, with about 67,000 vacant units. This figure is expected to rise by 20,000 units by the end of the year, pushing the oversupply rate to over 26%. Are you willing to buy flat for sale in sharjah