Fujairah property prices ‘stable’ despite influx of residential units

A two-bedroom apartment ranges from Dh40,000 to Dh48,000, while the average for a three-bedroom apartment is Dh55,000.

FUJAIRAH // Property prices in the city have remained stable compared with last year, real estate agents have said.

While almost 800 new units came onto the market in Fujairah city in the past year, rental amounts have not changed, said Jamal Shuraih, director of Al Bayader real estate.

“The availability of residential units has contributed to keeping the prices stable during the past three months,” he said.

“About 800 units have been added to the market to cover the client’s needs, with different sizes and services, while others will be ready soon.

“The current rental price of a two-bedroom apartment ranges from between Dh40,000 and Dh48,000, depending on the location and the provided facilities, while the average for a three-bedroom apartment is Dh55,000.”

Nail Karam, a real estate agent for Mazaya, agreed that prices in Fujairah are stable and that tenants usually find the property they are looking for.

“Last year we had a problem in fulfilling our clients’ needs, especially if they were requesting a studio, but now there is availability and usually all the clients are satisfied and we manage to find exactly what they are looking for,” Mr Karam said.

“Studio apartments range from between Dh18,000 and Dh23,000 depending on the location and size.

“Some people demand services like parking lots, swimming pools and gyms. In previous years it was hard to find, but now many new residential buildings offer such services.”