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Introduction
After Dubai, Ras Al Khaimah (RAK) has emerged now as a significant hotspot for real estate in the UAE. With its serene environment, modern infrastructure and attractive investment opportunity, RAK is attracting a diverse range of international investors. In this blog, we will explore the top nationalities buying properties in Ras Al Khaimah.
Overview of Ras Al Khaimah Real Estate Market
The RAK Real Estate Market has seen a steady growth, the recent report says property prices surged by 18.5% in H1 2024. Rental property demands are quite high in RAK and rental costs escalate between 7-11%.
Over the past 7 months Ras Al Khaimah has seen a surge in property prices and the above mentioned percentage indicates that in the upcoming days Ras Al Khaimah real estate will see a sound growth and investors will reap robust benefits.
In addition to this, RAK real estate economic stability in different sectors like tourism, industry, trade and commerce give a new identity. According to the Ras Al Khaimah Government Media Office, Despite zero oil production the city’s per capita GDP is Over USD30,000 per year.
Currently, Ras Al Khaimah is gaining huge attention because of the most sought after project Wynn Casino at Al Marjan. After the announcement of this stunning development, RAK is continuously receiving one after another real estate developments and spreading its footprint.
Further, different other sectors support real estate of RAK, several government initiatives, mixed luxurious & affordable properties offer a perfect reason to the rising influx of international buyers.
Top Nationalities buying Properties In Ras Al Khaimah
The following data shown in the table is based on recent market data
Nationality | Percentage of Buyers | Preferred Property Types | Popular Areas (in RAK) |
---|---|---|---|
Russia | 15% | Luxury Villas, Waterfront Properties | Mina Al Arab, Al Marjan Island |
India | 12% | Villas, Apartments | Al Hamra Village, Mina Al Arab |
China | 10% | Apartments, Commercial Properties | Al Hamra Village, Al Marjan Island |
Germany | 9% | Apartments, Townhouses | Al Hamra Village, Julphar Towers |
United Kingdom | 8% | Villas, Beachfront Properties | Al Marjan Island, Al Hamra Village |
Egypt | 7% | Apartments, Villas | Al Hamra Village, Mina Al Arab |
Turkey | 6% | Apartments, Townhouses | Al Hamra Village, Mina Al Arab |
France | 5% | Villas, Apartments | Al Hamra Village, Mina Al Arab |
United States | 5% | Villas, Beachfront Properties | Mina Al Arab, Al Marjan Island |
Pakistan | 4% | Villas, Apartments | Al Hamra Village, Mina Al Arab |
Canada | 4% | Apartments, Townhouses | Al Hamra Village, Julphar Towers |
UAE | 3% | Luxury Villas, Beachfront Properties | Al Marjan Island, Mina Al Arab |
Iran | 3% | Apartments, Villas | Al Hamra Village, Mina Al Arab |
Kyrgyzstan | 2% | Apartments | Al Hamra Village, Julphar Towers |
Bangladesh | 2% | Apartments, Villas | Al Hamra Village, Mina Al Arab |
Detailed Analysis of Each Nationality
Russia
- Reasons for Investment – Stable economy of Ras Al Khaimah, serene as well as luxurious lifestyle, high returns on property investments. Mostly, seek for appealing beachfront properties.
- Preferred Property Types – Luxury Villas, Water Facing Properties
India
- Reasons for Investment –Proximity to India, relaxed and serene environment, strong business ties are the prime reason for Indian investors.
- Preferred Property Types - Luxury Villas and Apartments
China
Reasons for Investment - Strategic location of Ras Al Khaimah, increasing tourism sector, investment -friendly policies and strong business opportunities attracts Chinese investors. Freehold property laws also are another advantage.
Preferred Property Types - Apartments & Commercial Property
Germany
Reasons for Investment - Modern infrastructure of RAK, quality life, supportive legal framework, and investment potential are some appealing reasons to German investors
Preferred Property Types -Apartment and Townhouse
United Kingdom
- Reasons for Investment - Tax benefits, luxurious lifestyle, favourable climate and safety attracts British investors.
- Preferred Property Types - Villa and beachfront properties
Egypt
- Reasons for Investment - affordable price, proximity to Egypt, strong presence of Egyptian expatriate community
- Preferred Property Types -– Apartment and Villas
Turkey
- Reasons for Investment -growing economy, cultural affinity and endless investment opportunities.
- Preferred Property Types -– Apartments and Townhouse
France
Reasons for Investment - Investment potential, tax benefits, high quality life, modern amenities attract French investors.
Preferred Property Types – Villa and apartments
United States
Reasons for Investment - High-end lifestyle and higher returns on investment in RAK. Economic stability and modern infrastructure are another key factors that grabs attention of US investors
Preferred Property Types – Villas and beachfront properties
Pakistan
- Reasons for Investment - affordable property prices, proximity to Pakistan and strong expatriate community of Pakistan draw the attention of Pakistani investors.
- Preferred Property Types –Villa and apartments
Canada
Reasons for Investment - Investment opportunities, modern infrastructure, high quality life are some primary reasons that attract investors from Canada.
Preferred Property Types –Apartments and Townhouse
Iran
- Reasons for Investment - Business opportunities, investment -friendly environment, cultural affinity, modern infrastructure are some appealing reasons that attracts Iranian investors
- Preferred Property Types –Apartment and villa
Kyrgyzstan
- Reasons for Investment - affordable property prices, growth potential, investor-friendly policies.
- Preferred Property Types –Apartments
Bangladesh
- Reasons for Investment - strong expatriate community, affordable property prices, growth potential in RAK.
- Preferred Property Types –Apartments
Factors Influencing the investment decisions
- Economic Stability: -The stable economy of RAK is creating favourable business environment and attract international investors
- Legal & financial benefits: -RAK provides attractive legal frameworks and financial incentives to foreign investors
- Lifestyle & Amenities:- RAK possesses a serene lifestyle, provides you the modern amenities and luxurious living options along with giving you the opportunity to live in the lap of nature.
- Comparative Advantage: - Competitive price as compared to other emirates city
Future outlook
Predictions
Currently, Ras Al Khaimah is witnessing growth and property demand is increasing which is the evidence that investors show interest in RAK properties. Apartment prices rose 10.5% and villas rose 9.37% . As the notable player of In the UAE’s property market , experts predict that RAK will surge approx. 5.1% in 2024.
Ras Al Khaimah’s prominent location on Al Marjan island will change the face of the RAK city’s real estate. It is predicted that when the most sought after Wynn Casino will become fully operational property price will surge 50%. Further, ROI of major trending areas in Ras Al Khaimah will be influenced by this new launch and let you grab endless benefits.
Future development project in Ras Al Khaimah
DAMAC Shoreline at Al Marjan Island - Reputed real estate developer DAMAC Properties has announced a new waterfront project at Al Marjan Island. Offers luxury lifestyle and offers 5-star resort style facilities.
Danube Upcoming projects in Ras Al Khaimah- Danube Properties also announced some outstanding projects, with a 1% payment plan these new developments will surely be the best property type in RAK which will generate higher ROI.
- Emaar Upcoming Projects in Al Marjan Island – Reputed real estate developer Emaar also, coming with their new projects in RAK. Their innovative development will perfectly blend in the natural beauty of Ras Al Khaimah and offer end-users experience a new level of luxury here.
Final Words
Due to its strategic location, stable economy, diverse property options and affordable price Ras Al Khaimah is now becoming a preferred real estate investment destination in UAE. International Investors highly show their interest here and choosing RAK as their investment zone, in the coming year RAK property market will thrive and prices of the property will sky rocket.
Hence, if you are considering investment in Ras Al Khaimah, Contact us for more information. Explore our property listings and choose your preferred property types and for new updates on Ras Al Khaimah visit our website https://topluxuryproperty.com/ae/