Ras Al Khaimah real estate: Prices climb up to 18.5% in one year, best ROI for investors, top districts revealed

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Bayut's latest market report sheds light on Ras Al Khaimah real estate trends, revealing a notable surge in prices, exceeding 18% in select developments. The heightened investor interest continues to drive activity in the Northern emirate.

In its Ras Al Khaimah 2023 market report, Bayut provides detailed insights into search trends, indicating a substantial increase in real estate market activity over the past two years, with expectations for this momentum to persist into 2024.

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Search trends analysis on Bayut underscores the growing demand for both villas and flats, propelling property prices upward in the emirate's highly sought-after areas. Key catalysts, such as zero tax and full foreign ownership options, have successfully attracted global investors.

Major property projects, including Cape Hayat on Hayat Island (Mina Al Arab) and the full inventory on Al Marjan Island, report sell-outs, showcasing the escalating interest and confidence in the real estate sector. The emphasis on mega hotel projects in RAK contributes significantly to the freehold residential boom, creating a dynamic landscape for both investors and developers.

Ras Al Khaimah emerges as a thriving hub for real estate investment, characterized by strong demand, successful projects, and a favorable environment for international buyers.

In the realm of property sales, Al Hamra Village stands out as the top choice for apartments, experiencing a 7.84% surge in the average price-per-square-foot. Al Marjan Island and Mina Al Arab also attract buyers, with price-per-square-foot increases of 4.88% and 18.5%, respectively.

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For villas, Al Hamra Village and Mina Al Arab remain favored options, with rental costs witnessing up to a 7% increase. Al Hamra Village's villas see a 3.55% price increase, while Mina Al Arab experiences a 2.56% decrease, enhancing affordability.

The Return on Investment (ROI) landscape highlights Yasmin Village as the leader for apartments, boasting an ROI of 11.8%. Al Seer and Al Hamra Village follow with impressive projected rental yields of 9.44% and 6.95%, respectively. In the villa communities, Al Hamra Village records a 5.87% ROI, while Mina Al Arab villas average at 4.43% in 2023.

Turning to property rentals, Al Hamra Village remains the preferred choice for rental apartments, with a notable 10.5% increase in asking rent. Al Marjan Island and Mina Al Arab also witness upticks. In the villa rental sector, Al Hamra Village retains its popularity, experiencing an increase in average rent, while Al Dhait records a slight drop.

Bayut's CEO, Haider Ali Khan, emphasizes the dynamic growth of the Ras Al Khaimah real estate market in 2023, attributing it to government initiatives and a vision for sustainable growth, making the emirate an investment destination of choice in the region.

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