Ajman: dubai's new commuter hotspot

Photo: Xiquinhosilva

Live near any major city around the world and you will find that property prices are on the expensive side - and that they become less so as you move further away.

A report from Lloyds Bank this month found that commuters in the South East who live an hour's train journey from their London office save an average of £380,000 compared to the cost of living in zones 1 or 2. Dubai is no exception, with city workers traditionally heading out to Sharjah in search of cheaper accommmodation.

Now, though, there is a new commuter hotspot: Ajman. It may be located two hours from Dubai, but the affordable housing is attracting a new wave of attention, according to a report from Asteco. The research found that real estate prices in the area have jumped 7 per cent in the last three months. While two-bed apartments can cost up to Dh45,000 to rent per year, though, they remain cheaper than Sharjah, where prices are up to Dh80,000 per year.

"Ajman is now taking over the mantle as the relocation destination for budget-conscious residents as landlords in Sharjah ask higher than average rental rates, particularly for brand-new buildings in popular locations like Al Nahda, Corniche and Al Wahda," John Stevens, managing director of Asteco, told Gulf News.

"Sharjah in particular has benefited in recent months due to aggressive rental rate increases in neighbouring Dubai, but this quarter saw a degree of stabilization in Dubai’s more affordable communities, which led to a reduction in the number of residents choosing to relocate."