Ras Al Khaimah – The real estate market in Ras Al Khaimah is experiencing a significant price surge, with property values increasing by 20-25% in the past eight months, according to a report by Metropolitan Premium Properties (MPP). This trend is particularly evident in Al Marjan Island, where continuous property launches are driving up prices with each new phase.
The market has been bustling, with approximately one to two new property launches each week over the last three months, offering a variety of options from high-end branded properties to more affordable units.
High Demand for Smaller Units
Data from MPP shows that studios and one-bedroom units are in the highest demand, driven by investors seeking holiday and short-term rental opportunities. Studio prices have increased by an average of 10-15% in the last quarter, while one-bedroom units have seen a rise of 5-10%.
Branded apartments, three-bedroom units, and waterfront villas priced at AED 7 million and above are also popular among buyers looking for personal residences or secondary holiday homes as larger properties gain interest.
“One Metropolitan customer who purchased a 2-bedroom apartment in Mina Al Arab in early May has already seen the unit’s value increase by AED 500,000, a 24 percent increase in just a few weeks,” the report stated.
Promotions and Incentives
To maintain momentum through the slower summer months, developers are offering promotions to attract buyers. These include post-handover payment plans, waived registration fees, and other deals valid until the end of August.
Investors Must Act Now
“The surge in property prices in Ras Al Khaimah reflects the growing attractiveness of the emirate as a real estate investment destination,” said Maxim Novikov, Head of the RAK branch at Metropolitan Premium Properties. “With ongoing developments and increasing demand, we anticipate prices to rise by 50 percent by the time the casino opens. For investors looking to take advantage of the market, the time to act is now.”
Prime Investment Areas
Currently, the most sought-after areas in Ras Al Khaimah include Al Marjan Island, Mina Al Arab, and Al Hamra Village, with projects featuring private beaches seeing the highest demand. Al Marjan Island is the top choice for investment, while Al Hamra Village and Mina Al Arab attract investors looking for properties for personal use.
Additionally, projects like JW Marriott Residences are seeing significant activity, with a recent bulk deal by MPP involving six units for over AED 20 million.
Strong Investor Interest
According to MPP, the Ras Al Khaimah market is attracting “strong interest” from investors, especially from the US, UK, Europe, CIS, and a growing number of Chinese investors.
