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Ras Al Khaimah: prospects and benefits of investments

Ras Al Khaimah: prospects and benefits of investments

3 November 2023

Ras al Khaimah is an emirate in the north of the UAE, a fast-growing investment and tourist destination and one of the country’s largest economic zones. While housing is not as popular here as, for example, real estate in Dubai, however, in the near future the demand for apartments and houses in Ras al Khaimah will grow. 

Advantages of investing in Ras Al Khaimah housing

Speaking about investing in housing, there are a number of advantages:

  • A growing market. In the first half of 2023, prices for apartments in popular areas of the emirate increased up to 7.49%, for villas – up to 6%. The cost of renting apartments in popular areas increased by 9.86%, villas – by 6.5%. The return on investment (ROI) in some areas exceeds 11.6% per annum.
  • Granting ownership of real estate. An important advantage of Ras al Khaimah is the availability of freehold zones where housing can be purchased with the right of full ownership.
  • Favorable prices. Villas and apartments in Dubai and Abu Dhabi are noticeably more expensive than in Ras al Khaimah. The average difference in price is from 30 to 50%. Also, the cost of living here is not as high as in large emirates.
  • No personal income tax. If the owner of the property wants to rent it out, all the rent, minus small maintenance costs, will go to him.
  • Partial subsidization of the registration fee by the developer. In the UAE, the fee for the purchase of real estate is 4% of the transaction value. However, in Ras al Khaimah, 2% is paid by the developer. And if in Dubai, for example, such a scheme is optional, for example, a developer wants to attract a buyer with a nice bonus, then here it is fixed at the legislative level.
  • High return on investment (ROI). The average return on real estate in Ras al Khaimah is 6% per annum, the maximum can reach 11.7%.

Thus, the emirate offers high-quality real estate at attractive prices and a comfortable tax-free environment, which makes it a great place to invest.

The most popular areas of the Emirate for buying real estate

Among the most popular locations in Ras al Khaimah are the following:

  • Al Hamra Village;
  • Mina Al Arab;
  • Al Marjan Island;
  • Yasmin Village;
  • Dafan Al Nakheel.

Among the most popular areas for rent, Al Hamra Village is in the lead. In the first half of 2023, rental prices here increased by 3-6%. The annual rent of a studio in this location now costs about $ 6800 per year, 2–bedroom apartments – $ 14,000. A 3-bedroom villa can be rented for $25,500 per year.

On Al Marjan Island, the rent for 1 and 2 bedroom apartments has increased to 10%.

Studio rentals in Mina Al Arab have risen by 2.4–5%. This data will be useful to investors who plan to rent out the purchased property.

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    ARAVANA Capital management
    3 November 2023
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