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Buying an Apartment in Ajman

Over a decade ago, the Emirate of Ajman made an ambitious decision to allow foreign ownership of properties. With Ajman properties considerably affordable, many new investors looking for more affordable investment opportunities began expressing interest in buying properties in Ajman. This small emirate with big ambitions aims to become a leader in property development and sales in the MENA region. For those who are unaware of its location, Ajman is sandwiched between the Emirate of Sharjah (to the west) and Umm-ul-Quain (to the east). With Ajman offering freehold properties, it has opened up a new market for those looking to establish roots in the UAE by purchasing property here. Most expats living in Ajman work in Dubai and their daily commute involves driving between the two emirates. Investing in this emirate is also a great option for those who simply cannot afford to purchase property in Dubai or Sharjah for that matter. Living in Ajman is more of a blessing for families who would in most cases have to send their families back to their home countries as rents in Dubai and Abu Dhabi are almost unaffordable for most middle-class expats. However, for those who qualify, there’s the option to obtain a mortgage loan, giving expats the opportunity to buy their own property in Ajman. What’s more, unlike renting, homeowners have the option to sell their flat at any time and expect to at least get back the amount they paid and in many cases, some homeowners can also expect to gain equity upon selling their property.

Types of Apartments in Ajman

The typical studio apartment will offer around 510 sq. ft. of floor space with 1 bath. For those looking for something a bit larger, they could consider buying a 1-BHK flat in Ajman, which will have around 823 sq. ft. of floor space and 2 bathrooms. For a couple with one or two children, the ideal apartment will come in the form of a 2-bed residential unit. A typical unit with this type of floor plan will have 2 baths and 990 sq. ft. of floor space. Finally, the largest flat you can buy is an apartment with 3 bedrooms, consisting of an overall floor space of 1,300 sq. ft. of floor space.

Popular Areas of Ajman

Not all areas in Ajman are of the same calibre as some are considered more popular than others. Accordingly, at the very top of this list sits the community of Ajman Corniche. This area is one of the few communities that offers waterfront living with properties stretched across a landmass of 4 kilometres. Ajman Corniche is also an area that has a thriving commercial community with a variety of restaurants, café and bars to choose from. Ajman Corniche offers various types of apartments for sale in mid to high-rise apartment buildings. The next most popular area is the district of Naemiya. However, unlike Ajman Corniche that offers a more leisurely beachfront lifestyle, Naemiya is known for its affordable housing. Another reason why this community is popular is its proximity to Safeer Mall, which is one of the most popular malls in Ajman. Apart from that, Naemiya has some of the best schools within a distance of 2 to 5 kilometres. For example, one of the largest and most reputable schools in Ajman, the British International School is just a few minutes away via car.

Lifestyle in Ajman

Ajman is home to some of the most pristine beaches in the UAE. In fact, the most popular area for leisurely activities in Ajman is Corniche Road where one will find several beachside restaurants. What’s more, there are a variety of cafes and sheesha bars where one can enjoy a flavorful smoking session. The Corniche area is not only popular with local residents, but many tourists can also be spotted here enjoying their coffee in the various café’s. Although Ajman is considerably less developed when compared to Dubai or Sharjah, the amenities here are adequate and residents won’t feel the need to drive out of the emirate to procure their daily necessities. Ajman has several malls and supermarkets. Apart from that, Ajman has a decent selection of hospital and clinics that offer superior healthcare services. In fact, Ajman residents will soon be able to enjoy world-class healthcare as one of the largest branches of Saudi-German Hospital is nearing completion in Ajman. Although the city doesn’t have a large number of universities, the ones that are in Ajman are well-reputed for providing superior higher-education. Some of these universities include Ajman University, City University and Gulf Medical University. Most importantly, in order to fully enjoy living in Ajman, one must have their own vehicle to get around. This is because Ajman doesn’t have a very reliable means of public transportation, nor does it have a metro train service.

Sale Price Trends for Apartments in Ajman

The most affordable studio apartment in Ajman can be bought for the average price of AED 130k, while the most luxurious studio can sell for AED 426k. Those thinking of buying their own 1-bed flat in Ajman, they could expect the price range to fall between AED 180k for the most affordable version and AED 900k for the most upscale version in a prestigious location. For AED 180k, one can own a 2-bed flat, with 2 baths and 981 sq. ft. of floor space, while a similarly configured flat in an upscale neighbourhood will sell for AED 1M. Finally, the largest apartment one could purchase comes with 3-bedrooms, which can be purchased for as low as AED 300k while the most upscale version of the latter will demand a sale price of AED 1.32M.
Hermes Real Estate

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