Trending Projects That You might like:
With an increase of 18.5% in real estate, Ras Al Khaimah is now becoming the major investment city in the UAE. According to Ras Al Khaimah 2023 market report, there are some trending areas in RAK, where outstanding sales, rental and ROI have been seen. So, in this blog, I am going to unveil to you why Ras Al Khaimah real estate is currently in a flourishing phase. Along with this, I will mention the reason behind it. Also, will discuss some recent high-end projects which are almost garnering the attention of the world.
Ras Al Khaimah Market Overview 2023
As I mentioned above, RAK has some trending areas where demands for property are quite high and the area sales transactions are also higher. The apartment’s rental cost soars 9.86% and villa rents uptick up to 6.5% in H1 2023. Likewise, the sales trends in Ras Al Khaimah for apartments increased by 7.49% and for villas, it increased by 6%.
Given below are some major Trending areas in Ras Al Khaimah with higher ROI
| Popular Areas | ROI |
|---|---|
| Al Hamra Village | 7.17% |
| Al Marjan Island | 6.32% |
| Mina Al Arab | 6.35% |
| Yasmin Village | 11.61% |
| Dafan Al Nakheel | 7.03% |
Ras Al Khaimah Is The Second Home Destination
There are certain reasons that make RAK one of the most coveted second-home destinations. Ras Al Khaimah’s natural site and rich culture as compared to Dubai make it a primary destination in UAE. For further reasons have a look below:
Affordability: – Undoubtedly, Ras Al Khaimah Properties are way more affordable as compared to the Dubai property market.
Accessibility: – Ras Al Khaimah provides easy access to the neighbourhood city Dubai which is 70 minutes to reach and Abu Dhabi is reachable within just 97 minutes.
Infrastructure: – Ras Al Khaimah boasts world-class infrastructure. Even the city offers a range of high-end quality residential, commercial, as well as leisure centres and offers smooth modes of transportation networks. So, residents here would get each single facility.
Amenities: – When it comes to amenities RAK is unbeatable and caters for all types of amenities. Here, you will be provided with all modern services such as health care centres, schools, shopping malls, and recreational spaces.Even you can find here the best residential properties from reputed real estate developers where you get best amenities & services for example Address Residences Phase 2 by Emaar Properties. Hence you can easily get all things just within driving distance.
Culture: – RAK’s rich culture, hospitality, landscapes, views of the Arabian Gulf, skyscrapers, Desert planes, and shopping destinations attract tourists. In 2023 RAK welcomed 1.22 million tourists. Further Ras Al Khaimah has achieved Silver Certification under Earth Check’s Sustainable Destinations program last year.
Real Estate: – Real Estate prices are quite more affordable than the neighbouring city. Provides ranges of property hence investors can choose what type of property they want to invest in. Properties here are smartly built up with extreme luxury and offer quite a cosy lifestyle and allocate a range of property options.
Currently, Al Marjan Island is the most sought-after location in Ras Al Khaimah and the destination is quite popular for waterfront properties, also it investors’ favourite second home destination. Let me share you some most recent branded residences here in Al Marjan:-
- Marjan Beach Vista
- Marjan Beach Residences
- Marjan The Beach House
- Emaar Address Residences
- JW Marriott Residences
- Nikki Beach Residences By Aldar
- Nasim Lots By Rak Properties
- Ellington Views 2
- Gateway Residences 2
Investment potential: – Investment in Ras Al Khaimah brings endless ROI potential and you can get an idea on the table mentioned above.
Expert Insight
As Ras Al Khaimah is in the growth phase and property prices are still on the rise many experts have given their statements on this. Sameh Muhtadi, CEO of RAK Properties has said that RAK is the most preferable choice amongst investors and they frequently choose property in Ras Al Khaimah and feel that it’s a safe region to invest and income.
Due to the high cost and way more affordable than Dubai and Abu Dhabi Properties residents are relocating to Ras Al Khaimah.
As per experts, Ras Al Khaimah’s off-plan market is also booming, the city is currently in the growth stage and still positive results indicating a flourishing future.
Both residential as well as commercial projects will attract a significant influx of investment and help you to boost the business. Even Ras Al Khaimah’s growing tourism will also help investors for more property investment in RAK. Experts forecasts that RAK will grow approx. 5.1% in 2024.
Forecast
The property market of Ras Al Khaimah has seen growth in the last year and as per Google data, apartment demands are quite higher as compared to villa properties. The data shows 7.84% of apartment sales have increased, 4.88% sales in Al Marjan and 18.5% in Mina Al Arab.
The demand for apartments is still on the rise there and that’s the reason it is expected that in 2024 the property market of RAK will be dominated by such trends. Further, with 11.8% the highest ROI of Yasmin Village investors can expect that it will give them twice per cent of returns in the future.
Further, Ras Al Khaimah offers the same tax-free environment, 100% ownership to expert and Golden Visa facilities. And as compared to Dubai property prices are quite affordable in RAK hence experts predict that soon Ras Al Khaimah is going to be another hot property investment zone in UAE. The RAK property market has started to boom since last year and it is expected that in the coming few years the property markets of both UAE cities – Dubai and Ras Al Khaimah will be quite competitive with each other.
Conclude
Indeed property prices are increasing here in Ras Al Khaimah and the absolute reasons I have mentioned in the blog. also, added the experts’ view point, how they understand the RAK property market and their predictions. So, if you are looking for investment then this is the right time to invest in Ras Al Khaimah which will give you endless benefits in the upcoming days.
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