There’s incredible value for money if you rent or buy property in Ras Al Khaimah
Did you know you can rent a lovely 3 bedroom apartment facing the sea or golf course in Ras Al Khaimah for the average price of a studio in Dubai? The Northern Emirate definitely offers more bang for your buck, besides a more relaxed way of life. RAK was the second emirate – after Dubai in 2002 – to allow foreign ownership of property.
And there’s so much more to RAK than a weekend getaway. More and more people are now choosing to rent or buy property in Ras Al Khaimah to escape the chaos of city life and are willing to do the 60 minute commute to Dubai daily. Families love the easygoing lifestyle and know that city life is just a short drive away.
Property in RAK offers fantastic value for money, from both a rental and buying perspective when compared to Dubai.
Real estate rents in Ras Al Khaimah are only one third of those in Dubai. For instance, on average you can rent a sea facing studio in RAK for only AED 20,383, whereas in Dubai, a studio to rent will cost you AED 61,533 on average, according to Property Finder’s Research and Data team.
Also, for the average price you pay to rent a 1 bedroom apartment in Dubai (AED 99,246), you can rent three similar units in RAK (AED 32,787 each). These bargains are true for units of all specifications in RAK’s rental market.
You can also choose from a lot of new properties in Ras Al Khaimah as approximately 3,160 units are slated to be completed in 4 years. These will be concentrated in emerging hotspots like Al Murjan Island (RAK’s answer to Dubai’s Palm Jumeirah), Mina Al Arab and Hayat Island.
Sales price difference
Several options are opening up for investment in the emirate. There are good bargains if you’re looking to buy property in RAK. Consider this: the average sales price for a studio in Dubai is AED 972 per sq ft while in RAK, it is only AED 580 per sq ft, says research from Property Finder.
More and more affluent people living in Dubai and Abu Dhabi use the price advantage to buy vacation homes and second homes in Ras Al Khaimah. Located at the UAE’s northern tip, the emirate is a magnet for tourists owing to its diverse landscapes: pristine beaches, rugged mountains and vast swathes of desert.
Real estate in RAK has come into its own. Don’t risk being left out!