According to a new report by CB Richard Ellis (CBRE), rental rates for housing in Sharjah remain the highest among all the northern emirates, however, and they fell by more than 50% in the first half of 2010. “One of the engines for Sharjah’s real estate market will be the adoption of legislative norms on property for real estate for foreign investors. This topic, like many others, was actively discussed in the second quarter of this year, since such measures can help the development of the real estate sector in the emirate,” - Approved in the latest CBRE report on the state of the real estate market in the northern emirates of the UAE.
CBRE experts are confident that the new legislation will positively affect sales activity and help transform the future development of the real estate market in Sharjah. At the same time, the CBRE report notes that the main inhibitory factor facing the real estate sector of the northern emirates is the lack of infrastructure, as well as an acute shortage of electricity, especially in Sharjah and Ajman.
