Investors see Sharjah rents increase

18/07/2011 - Dubai Investment News Posted by Neil King
Investors see Sharjah rents increase

Property investors with rental units in Sharjah have seen their income increase in recent months, it has been suggested.Research recently published by Asteco has revealed that rents in some areas of the emirate have increased by two per cent in the last quarter.The news will encourage local investors as the rise comes despite recent power cuts and petrol shortages in the area.According to the organisation, a studio in the Al Khan and Corniche areas now stand at between Dh20,000 and Dh25,000 per year, while office space is now priced as much as five per cent higher.Craig Plumb, head of research at Jones Lang LaSalle Mena, commented: "Some portions of the market are now seeing prices stabilise or even increase marginally, but these sectors are relatively limited and confined to a few select locations."The average price and rent across the whole market has continued to decline and is likely to decline further for the rest of 2011."