Property in Ajman - the Next UAE Hotspot

By: Mark Burns

With a population of around 100,000, and covering an area of only 260 square kilometres, the emirate of Ajman is in fact the smallest of the seven emirates of the UAE. However, this small emirate, situated between Sharjah and Dubai is tipped to become one of the next property investment hotspots, potentially rivalling the incredible growth rates experienced in neighbouring Dubai.

So why are we beginning to see increasing interest in property in Ajman, and what are the factors that are combining to result in large numbers of people relocating to this emirate?

As with the majority of issues such as this, the bulk of the answer can be found in Ajman's excellent location, and in particular it's close proximity to the commercial powerhouse of Dubai. As such, large numbers of people who work in Dubai have been attracted by the more relaxed and serene coastal lifestyle that can be found in Ajman.

The second major factor in the increase in demand for property in Ajman is the relative affordability of property in the emirate. Recent years have seen exceptionally high levels of growth in the prices of Dubai property, as well as the property in Abu Dhabi, Umm Al Quwain and Sharjah resulting in Ajman property becoming an increasingly attractive proposition.

However, prices of property in Ajman have begun to increase significantly of late. Announcements such as the plans to build a major new international airport in the region have resulted in a continued interest in property in Ajman. Recent reports have suggested that Ajman property prices are set to continue rising at approximately 20% year on year for the foreseeable future.

Finally, the government of Ajman has made considerable efforts towards encouraging investment in the emirate, offering a range of benefits to both individuals and companies who are interested in investing in Ajman. Developments such as the Ajman Free Zone, and its offers of 100% foreign ownership, 100% repatriation of capital and profits as well as a guarantee of 20 years tax free operations and no personal income tax ensure considerable interest from all levels of investor.

Factors such as those outlined above have resulted in a number of large scale development projects being launched in Ajman in recent times. Projects such as the new Emirates City offer a wide selection of properties across a range of budgets, and as such the interest in Ajman property has increased considerably in recent months.

Today, the market for property in Ajman offers significant opportunities for individuals and investors alike. The excellent location of Ajman, provides a more affordable alternative to Dubai, whilst still offering the luxury that modern day investor's demand.

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