Ras Al Khaimah is a great place to buy property for investment or relocation. The resort emirate is located in the northern part of the country. It is less hot than in Dubai, and the picturesque Hajjar Mountains run along the eastern border of the emirate. It has a well-developed resort infrastructure with sandy beaches, quiet coves, lagoons, and mangroves. Apartments and villas in Ras Al Khaimah are cheaper than similar properties in Dubai. There are also a number of freehold zones where foreigners have the right to buy residential real estate and own it. The most promising destination for purchasing residential real estate in Ras al-Khaimah are resort communities Al Hamra Village, Mina Al Arab and Al Marjan Island.
- Al Hamra Village
- Al Marjan Island
- Mina Al Arab
The elite community of Al Hamra Village is known for its magnificent sandy beaches and stunning green 18-hole professional golf course nestled along the seacoast, where international tournaments of the European Tour and Classic Championship are held. The community also includes the following:
- a marina with a sailing club;
- a medical center;
- the two-story shopping and entertainment complex Al Hamra Mall with a cinema, a mosque, many shops and fine dining restaurants;
- RAK Academy British School;
- supermarkets and grocery stores;
- luxury seaside hotels.
The area includes the first island living project of Falcon Island. The new residential project features 500 villas and townhouses with access to white sandy beaches. In addition, the island houses various amenities, including swimming pools, gyms, tennis courts and a community center.
Al Hamra Village offers a variety of residential properties. For example, the state-of-the-art green complex of Bayti features townhouses that incorporate innovative technologies to reduce the negative impact on the environment (solar water heaters, LED lighting, water-saving plumbing, low-VOC paints, etc.). Nationals of all countries can buy property in this project. The Royal Breeze Residences offers studio units, 1- to 3-bedroom apartments and luxury penthouses. Foreigners are also allowed to own property in this project.
Real estate in Al Hamra Village has a high quality of construction, easy access to the infrastructure while the prices for local property are considerably lower than for similar-class housing in beachfront residential projects in Dubai.
For instance, an off-plan 2-bedroom townhouse on Falcon Island can be purchased for AED 1.33 million ($362,000). The cost of a finished studio apartment in Royal Breeze is AED 300,000 ($82,000).
Investors can safely consider Al Hamra Village a profitable destination for a rental business. The rent rates for a studio apartment in Royal Breeze start from AED 21,000 ($5,700) per year. You can rent out a villa with 2 bedrooms for AED 68,000 ($18,500) per year. On average, the ROI for housing in this coastal community is 9% for apartments and 8% for villas.
Al Marjan Island is a developing resort area in Ras Al Khaimah, which is a complex of 4 artificial islands washed by the waters of the Arabian Gulf. Currently, the lands are under development, which means you can buy real estate directly from the developers in instalments.
The community features several supermarkets, a sports club, pharmacies, restaurants, a pedestrian promenade with a jogging track, several tennis courts and many other amenities. The islands are interconnected by road bridges. The area is connected to Sheikh Zayed Rd, which runs along the entire seacoast and connects neighboring emirates so that you can get to the center of Dubai in an hour.
Al Marjan Island is a promising destination for buying investment property. Located on the sea coast, with easy access to the beaches, developed infrastructure and convenient transport links with the mainland of the city, the community will be a popular destination for tenants, including tourists and local residents. Also, an important advantage of buying a home in Al Marjan Island is more affordable prices compared to the cost of similar apartments and villas in Dubai. For example, the starting price for a studio apartment here is AED 350,000 ($95,000). A luxury off-plan 2-bedroom beachfront villa costs from AED 2.7 million ($735,000).
As for rental rates, the minimum rate for an annual studio rental is AED 23,000 ($6,000). The ROI for apartments ranges from 3.1% per year for 3-bedroom units to 7.7% for studio units. Investors can also buy hotel apartments and rent them out through a management company. This option of passive income is suitable for those who do not want to look for tenants and maintain an apartment. Many residential complexes sell freehold real estate to foreigners, which significantly increases the liquidity of apartments and houses in Al Marjan Island.
The resort community of Mina Al Arab is located on the mainland, which has access to the sea bay and two islands. The territory is rich in nature with backwaters and green reserves. The community offers comfortable conditions for holidays and living. Residents have access to numerous amenities and infrastructure facilities, including:
- long sandy beaches;
- a marina;
- bike paths;
- pedestrian alleys;
- a fitness club.
Mina Al Arab is connected to Sheikh Mohammed Bin Salem Road which provides easy access to other popular Ras Al Khaimah destinations. A wide range of real estate in the community allows property hunters to choose the right option both for living and investing.
The resort community Mina Al Arab offers studio units, apartments and villas from 2 to 5 bedrooms. All housing is of high quality. On the territory of large residential complexes, there are swimming pools, gyms, lounge areas and other amenities. Home buyers can choose move-in ready housing as well as off-plan units.
The main advantage of purchasing a house or apartment in off-plan residential complexes is the option to pay in interest-free instalments and favorable prices from developers. For example, the current starting cost of an off-plan 1-bedroom apartment in Bay Residences is AED 752,000 ($205,000). An off-plan 2-bedroom villa in Marbella can be bought at a price of AED 1.9 million ($517,000).
Since Mina Al Arab is a resort coastal area, here you can consider buy-to-let property. The average ROI for 1-bedroom apartments in the community is 6%. For example, you can rent out such an apartment at a minimum rate of AED 28,000 ($7,600). The rent rates for a villa with 2 bedrooms starts from AED 75,000 ($20,000) per year.
The friendly climate, the proximity of the mountains and the Persian Gulf with white-sand beaches and clear waters make Ras Al Khaimah an excellent alternative to Dubai, both for living and real estate investment. Housing prices here are lower than in Dubai, while the return on investment in the popular coastal areas of the emirate is as high as in Dubai.
Check out the real-time property offers in Ras al-Khaimah on our website. Our easy-to-use search filters will help you find the most interesting offers. And if you have any questions, you can contact our team for advice.