Low prices of Ajman real estate attracts Dubai investors

Ajman is the latest to see real estate boom in the UAE

Real estate prices in Dubai have appreciated almost 60-70% tempting the investors to venture into various upcoming real estate projects in the nearby emirates. The prices of real estate in Ajman are low and affordable compared to other emirates. Moreover, the prices of property in Ajman have apprized more than 30% making it an attractive market for realty investors in last few years.

Ajman was the only emirate to introduce freehold property after Dubai as early as in 2002. The Government of Ajman opened a special department, Ajman Development and Investment Authority, to regulate real estate development activities in the emirate.

Ajman is spending money towards the improvement and enhancement of its infrastructure facilities. In the year 2007, the government n assigned AED 500 million towards infrastructure out of which AED 45 million was utilized for roads and intersections, AED 85 million for two bridges and AED 14 million for the development, maintenance and renovation of the roads.

In Ajman, prices average US$ 600 per sq m for studios and US$ 480 per sq m for 1 bedroom apartments. Demand for smaller housing units like studios and 1 bedroom apartments is surging in Ajman.

With several billion dirham worth of real estate projects being launched in the emirate in recent times and several more expected in next few years, Ajman sets the stage for the second property boom in the UAE.