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Real estate experts summed up the results of Ras Al Khaimah market for the first half of the year. In particular, they established the dynamics of prices in the emirate and selected several areas that turned out to be the most popular among buyers of apartments and villas.
In the segment of apartments in the first place was the area of Al Hamra Village. A square meter here costs an average of AED 6405.8 ($1,744), which is 4.28% more than in the second half of 2022.
The average prices for apartments were as follows:
● one-room apartments – AED 500,000 ($136,130);
● two-room apartments – AED 829,000 ($225,700);
● three-bedroom apartments – AED 1.4 million ($380,000).
The second most popular area is Al Marjan Island. The price per square meter here is AED 7985.21 ($2,174). The average prices of Al-Marjan are also higher:
● one-room apartments – AED 664,000 ($180,780);
● two-room apartments – AED 1 million ($270 000);
● Three-bedroom apartments – AED 2 million ($540,000).
Other popular areas were as follows:
Mina Al Arab;
Yasmin Village;
Dafan Al Nakheel.
In the villa segment, the most popular area turned out to be Al Hamra Village. The price per square meter here reached AED 6604.14 ($1,798), which is 3.98% more than in Q2 2022.
A three-bedroom villa will cost AED 1.4 million ($380,000). For a four-bedroom villa, buyers on average paid AED 2.1 million ($570,000), for a five-bedroom villa – AED 8.2 million ($2.23 million).
The second most popular area in the villa segment was Mina Al-Arab. Lots of investors decided to take advantage of the 5% price reduction that was observed here in comparison with Q2 2022. The price in 2023 was AED 8,815 ($2,400) against AED 9,370 ($2,551) at the end of 2022.
For a three-bedroom villa, buyers paid an average of AED 2.1 million ($570,000), for a 4-bedroom villa – AED 4.6 million ($1.25 million), for five bedrooms – AED 5.6 million ($1.52 million).
