Reportage on Ras Al Khaimah UAE Properties: Real Estate Market Trends (2018-2024)
Published Date: 22 Sep, 2024
Ras Al Khaimah, known for its stunning landscapes and rapidly developing infrastructure, is gaining attention as an emerging hotspot for real estate investment in the UAE. This reportage on Ras Al Khaimah UAE properties covers year-by-year trends for apartments, villas, and land prices, focusing on key areas such as Al Hamra Village, Mina Al Arab, and Ras Al Khaimah’s city center.
Al Hamra Village: Upscale Coastal Living
Al Hamra Village offers premium coastal properties with access to golf courses, marinas, and resorts. It has become one of Ras Al Khaimah's most desirable residential areas.
- 2018: Apartment prices ranged between AED 600-650 per square foot.
- 2019: Prices increased to AED 620-680 per square foot due to high demand for waterfront living.
- 2020: Prices dropped slightly to AED 580-630 per square foot due to global market conditions.
- 2021: Recovery began, with prices reaching AED 650-700 per square foot.
- 2022: Prices climbed to AED 700-750 per square foot, driven by increased demand for vacation homes and expatriate investments.
- 2023: Prices continued to rise, reaching AED 720-780 per square foot.
- 2024: With the development of new luxury projects, prices are expected to rise further, reaching AED 750-800 per square foot.
Land Prices: In 2018, land prices in Al Hamra Village averaged AED 450 per square foot. By 2023, prices had risen to AED 600 per square foot, with expectations for 2024 predicting further increases to AED 650-700 per square foot due to ongoing development.
Mina Al Arab: Eco-Friendly Waterfront Properties
Mina Al Arab is an eco-friendly waterfront community offering residential and commercial properties surrounded by nature reserves and water features.
- 2018: Apartment prices ranged from AED 500-550 per square foot.
- 2019: Prices rose to AED 520-580 per square foot due to increased interest in eco-friendly developments.
- 2020: Prices dipped slightly to AED 490-530 per square foot.
- 2021: Recovery saw prices reaching AED 540-590 per square foot.
- 2022: Prices continued to climb, hitting AED 560-620 per square foot.
- 2023: Prices peaked at AED 600-650 per square foot.
- 2024: It is projected that prices will reach AED 620-680 per square foot as the demand for sustainable living rises.
Land Prices: Waterfront land in Mina Al Arab averaged AED 500 per square foot in 2018. By 2023, prices had increased to AED 650 per square foot, and further growth to AED 700 per square foot is expected in 2024.
Ras Al Khaimah City Center: Affordable and Expanding
Ras Al Khaimah’s city center offers more affordable residential options with a mix of commercial developments. It is a key area for residents seeking budget-friendly properties close to essential amenities.
- 2018: Apartment prices averaged AED 300-350 per square foot.
- 2019: Prices rose slightly to AED 320-370 per square foot.
- 2020: Prices decreased to AED 280-330 per square foot.
- 2021: Prices began to recover, reaching AED 310-360 per square foot.
- 2022: Prices rose to AED 330-380 per square foot.
- 2023: Apartments reached AED 340-390 per square foot.
- 2024: It is expected that prices will increase to AED 360-410 per square foot due to continued development and growing interest in affordable housing.
Land Prices: In 2018, land in Ras Al Khaimah’s city center was priced at AED 150-180 per square foot. By 2023, prices had risen to AED 200-220 per square foot, with a further increase expected in 2024 to AED 230-250 per square foot.
Al Marjan Island: Luxury Island Living
Al Marjan Island, an artificial archipelago, offers luxury living with beachfront properties, hotels, and resorts. It is one of the prime areas in Ras Al Khaimah for high-end investments.
- 2018: Apartment prices ranged between AED 700-750 per square foot.
- 2019: Prices increased to AED 720-780 per square foot.
- 2020: Prices dropped slightly to AED 680-730 per square foot.
- 2021: Prices recovered to AED 730-780 per square foot.
- 2022: Continued demand pushed prices to AED 760-810 per square foot.
- 2023: Prices reached AED 780-830 per square foot.
- 2024: Prices are projected to rise further to AED 800-850 per square foot with increased tourism and luxury development projects.
Land Prices: In 2018, land on Al Marjan Island was priced at AED 700 per square foot. By 2023, land prices had risen to AED 850 per square foot, with projections for 2024 suggesting an increase to AED 900 per square foot.
Investment Outlook for Ras Al Khaimah in 2024
The reportage on Ras Al Khaimah UAE properties indicates that this emirate is a rising star for both affordable and luxury real estate investments. Areas like Al Hamra Village, Mina Al Arab, and Al Marjan Island are expected to continue seeing price growth as more projects and developments come online. Investors can expect strong returns in both residential and commercial sectors, particularly in waterfront communities.
ALand: Your Partner in Ras Al Khaimah Real Estate Investment
For investors looking to capitalize on the growing market in Ras Al Khaimah, ALand (https://a.land) offers real-time data, exclusive property listings, and expert investment advice. Whether you're seeking luxury beachfront villas, eco-friendly apartments, or land for development, ALand provides the tools to make informed decisions in Ras Al Khaimah’s evolving real estate market.
Explore Ras Al Khaimah’s real estate opportunities with ALand and secure your place in one of the UAE’s most promising investment markets for 2024 and beyond.
Date: 22 Sep, 2024
