Luxurious yet affordable accommodation. Artificial islands. Dizzy skyscrapers. The UAE is a very popular destination for both tourists and investors. You can profitably buy off plan property in Dubai, UAE and get a high ROI. But life in Dubai and Abu Dhabi is becoming more expensive every year, so the rapidly developing Ras Al Khaimah is becoming increasingly popular as an attractive and more affordable alternative.
A new destination
It is quite natural that the emirate on the shores of the Persian Gulf is of such interest. Vacationers are attracted by the amazing natural beauty of Ras Al Khaimah, pristine beaches and the proximity of the mountains, which means the opportunity to go on exciting mountain hikes and do water sports.
Naturally, many people would like to buy real estate here. Simplified buying, competitive prices and stunning new developments… Property in Ras Al Khaimah is ideal for those who want to own their own holiday home where the sun shines all year round.
In addition, since it is a region of active economic growth, property investment here is of value in the long term.
Here is some general information about the emirate:
- Located 45 minutes from Dubai on a direct highway.
- The center of the UAE leisure and entertainment industry – guests can expect all kinds of water sports, hiking and desert safaris, as well as five-star hotels and restaurants.
- A high assessment of the economic potential from the Standard & Poor’s rating agency is “a consistently favorable financial position until 2021”.
- In 2017, the influx of foreign guests increased by 12%.
- By 2025, the contribution of tourism to the GDP will be 10%.
Profitability of real estate in Ras Al Khaimah
As we have already mentioned, the housing sector in Ras Al Khaimah is gaining momentum in popularity. Of course, the emirate is still far from the indicators of the investment attractiveness of Dubai real estate, but experts are confident that soon the demand for housing will grow.
The main reason for this confidence is the implementation of a strategic five-year strategy from 2023 to 2027, which was developed by the developer Al Hamra. In particular, this strategy is aimed at developing tourism, business and investment in the emirate.
- Already today, the emirate is implementing innovative measures to attract tourists. And such fruitful work yields excellent results: Time magazine included it in one of the 50 locations considered mandatory for tourists to visit.
- The authorities also contribute to the development of the emirate. For example, the Tourism Development Authority has announced funding for ambitious projects to develop new attractions.
- An important factor can also be called the imminent approach of the World Cup, which will be held in Qatar. Tourists will be able to see for themselves the developed tourist infrastructure, which will give an additional impetus to the development of the emirate.
The combination of these factors clearly indicates the imminent growth in demand for real estate in Ras Al Khaimah. And today, investors have a unique opportunity – to buy investment property before the value rises.
Real estate in Dubai or Ras Al Khaimah
Economic growth, coupled with the tourist attraction of the emirate, has a significant impact on the dynamics of the property market in Ras Al Khaimah.
With continuous investment, direct connections to Dubai and lower rents, the number of renters moving to Ras Al Khaimah from neighboring emirates is steadily increasing.
The affordability of life in the emirate compared to Dubai and other emirates, combined with the excellent entertainment infrastructure and resort climate, makes investors think about buying a summer home in this region.
As a result of growing demand, the value of real estate in the key investment areas of the emirate of Ras Al Khaimah is expected to be comparable to the value of housing in other popular regions of the UAE. Over the next three years, the cost of capital of foreign investors buying property in areas such as Al Marjan Island could increase by up to 20%; in addition, renting out acquired real estate increases the return on capital by 6‑10 %.
A new project in Ras Al Khaimah
When it comes to real estate in the United Arab Emirates, many investors and buyers think of Dubai. However, there are other emirates in which the growth in demand has already become a tradition. An ambitious project that is now taking place in Ras Al Khaimah is worth mentioning here, as it is implemented by a well-known developer Al Hamra.
This project compares favorably with many others.
- Firstly, it is positioned as an investment profitable and attractive solution in the real estate market.
- Secondly, the developer offers very interesting and flexible payment plans.
- Thirdly, the project includes exclusively premium villas with stunning sea views. According to reports from the developer, the total cost of the project is AED 1 billion.
In total, the project includes 127 exclusive villas, whose cost starts from AED 6.2 million, which is equivalent to USD 1.69 million. Both local and foreign buyers can buy them.
It is reported that this project is a continuation: earlier, the developer within the framework of the 1st phase has already sold real estate objects that have gained popularity among international investors. And today, Falcon Island is a sought-after location that offers buyers long-term returns.
Real estate agency in Dubai
Are you interested in real estate in the UAE? Ax Capital real estate agency will help you find the best properties. Having an impressive experience in the emirates housing market, they will tell you about all the features of projects and locations, select developers with favorable payment plans and fully support the transaction, whether you will invest in Dubai, Abu Dhabi, or Ras Al Khaimah housing market. Experts from the Ax Capital property agency will talk about all the features of transactions, advice on documentation issues, and also select the best options for you.