The ALand Times Special Edition – 24th September 2024 Reportage on Ras Al Khaimah Properties
Published Date: 24th Sep, 2024
Reportage on Ras Al Khaimah Properties: Real Estate Market Trends (2018-2024)
Welcome to this special edition of The ALand Times, featuring a comprehensive look at Ras Al Khaimah’s real estate market from 2018 to 2024. Moderators will analyze how property values have evolved and provide insights into the current market, with a comparison to other emirates like Dubai and Abu Dhabi.
2018-2020: Steady Growth and Regional Stability
During this period, Ras Al Khaimah experienced moderate price growth, driven by local demand for residential properties and increased tourism. Villas and apartments in key areas like Al Hamra Village and Mina Al Arab were in demand, with property prices gradually increasing.
Key Areas and Prices (2018-2020):
Al Hamra Village
○ 2018: AED 850 per sq. ft. (~USD 231)
○ 2020: AED 900 per sq. ft. (~USD 245)
Mina Al Arab
○ 2018: AED 950 per sq. ft. (~USD 259)
○ 2020: AED 1,000 per sq. ft. (~USD 272)
Despite economic challenges in the UAE during 2020, Ras Al Khaimah maintained relative stability, especially in the luxury villa market.
2021-2022: Post-Pandemic Recovery and Surge in Demand
Ras Al Khaimah’s property market rebounded in 2021, bolstered by the emirate’s growing appeal as a tourism and business destination. Villa demand surged, especially in waterfront developments like Mina Al Arab and Al Marjan Island. Additionally, the government’s focus on attracting foreign investors played a significant role in the market recovery. Key Areas and Prices (2021-2022):
Al Hamra Village
○ 2021: AED 950 per sq. ft. (~USD 259)
○ 2022: AED 1,050 per sq. ft. (~USD 286)
Mina Al Arab
○ 2021: AED 1,100 per sq. ft. (~USD 299)
○ 2022: AED 1,200 per sq. ft. (~USD 326)
2023-2024: Continued Growth and Future Outlook
In 2023, property prices in Ras Al Khaimah continued their upward trend, with Al Marjan Island becoming one of the most sought-after areas for luxury beachfront properties. The growing expat community and continued investments in tourism infrastructure have contributed to the emirate’s booming real estate sector.
Key Areas and Prices (2023-2024):
Al Marjan Island
○ 2023: AED 1,300 per sq. ft. (~USD 354)
○ 2024 Forecast: AED 1,400 per sq. ft. (~USD 381)
Al Hamra Village
○ 2023: AED 1,100 per sq. ft. (~USD 299)
○ 2024 Forecast: AED 1,200 per sq. ft. (~USD 326)
Comparing Ras Al Khaimah with Dubai and Abu Dhabi
While Dubai and Abu Dhabi have seen rapid price increases in luxury segments, Ras Al Khaimah offers a more affordable alternative with stable growth. The emirate’s low-density developments and scenic waterfront properties provide a unique investment opportunity for those seeking value in the UAE.
ALand (https://a.land) provides exclusive insights and listings for properties in Ras Al Khaimah, Dubai, and across the UAE. For investors looking for a mix of affordability and growth potential, Ras Al Khaimah presents a compelling choice.
This special edition helps you understand the key market movements in Ras Al Khaimah from 2018 to 2024, providing detailed price trends and comparisons with other emirates. Stay tuned to The ALand Times for daily updates and visit https://a.land to explore investment opportunities in this vibrant market.
Date: 24th Sep, 2024
