Discussions found on this thread essentially evolved around claims that Ajman is viewed by some as the next market to follow the property boom that has taken over the emirate of Dubai. As expected, this argument created two groups that provided varying support to the emirate’s investment potential and its ability to reach the status that Dubai is presently enjoying.
Members that supported Ajman as the next property market to contend with and flourish even view it as a most probable event since Ajman offers relatively low property prices. Plus, it is one of the locations next to Dubai that offers freehold titles to its property buyers. With a host of first-rate development projects on the way that should attract more buyers, Ajman has may have reached the point where Dubai was once seated, eventually causing property prices to rise and ultimately leading to a thriving market.
On the other side of the argument, some members claim that although Ajman drives itself up with its property developments, the city still lacks an ultimate appeal as a property hotspot for investors. Hence, the primary concern that members raised is the state of infrastructure that the emirate of Ajman currently possesses. With no more than two main roads that lead to Dubai or Jebel Ali as well as the inadequate road facilities, the city’s infrastructure does not give justice on the property developments that are found within it.
Another point raised by some members is that the rental market in Ajman is relatively unknown.For people who are keen on investing in the rental market and has money to spare, Dubai would be a safer location to invest on.
In addition, the competition with other Dubai projects would not lead to much capital appreciation as compared to properties in Ajman. Hence, supporters of this argument stipulate that Ajman properties are most ideal for personal use or for family residences and should not be associated with significant rental returns and capital appreciation, yet.
Despite such gloomy predictions for the Ajman property market, a window of opportunity presented itself for making substantial profit from Ajman properties. Thus, buying early in this emirate’s property development location is one way to obtain significant capital returns due to the anticipation for property price growth.
The surge of developments in Ajman has brought many claims about its effect on property buyers. Being the smallest out of the seven emirates and situated along the UAE’s western coast, it has driven investors to build various uniquely elegant structures and complexes. It is even said that Ajman is already capable of providing luxury and comfort at a very reasonable price.
Moreover, the Ajman government has implemented special benefits that would suffice all international and local investments, particularly with its trade and industry. In this regard, the government issued its new property law. This falls under the Amiri Decree Numbers 7 and 8 of 2008 wherein Sheikh Humaid Bin Rashid Al Nuaimi, the current Ajman ruler, issued this law in order to regulate the region’s property and land sectors. Furthermore, this law actually legalizes freehold ownership of properties and land for both GCC and UAE citizens along with the public stocks of certain companies.
Since the main investment field of Ajman is real estate, investors perceive Ajman’s variety of commercial and housing towers, marketing centers, complex estates, hotels, and housing estates mean fewer risks when it comes to their investments. Ajman’s Free Zone also provides investors with incentives and facilities together with a guarantee of 100% foreign ownership and 100% repatriation of profits and capital. There is also the guarantee of a 20-year tax-free operation and the absence of personal income tax.
With all these advantages given to its investors, the property sector of Ajman is being pumped with billions of dollars. This is also related to the real estate prices that have currently jumped from $95 up to a whooping $136 per square foot in just a span of six months.
Learn more about Ajman in the Dubai forum.