Landmark announcements and growing demand points to a promising future for Ras Al Khaimah real estate

Landmark announcements and growing demand points to a promising future for Ras Al Khaimah real estate

Ras Al Khaimah, UAE: Bayut, the UAE’s leading property portal, has released their latest Ras Al Khaimah Market Report, with detailed insights on search trends in the northernmost emirate in 2023. In the past two years, the Ras Al Khaimah real estate market has seen a notable increase in activity, which is expected to continue into 2024. The same outlook is also reflected in Bayut’s Ras Al Khaimah 2023 market report. An analysis of search trends on Bayut has shown that demand for both villas and flats grew steadily, driving property prices upwards in most of the highly searched areas of the emirate.

The implementation of zero tax and the option of full foreign ownership have emerged as key catalysts, successfully attracting global investors to the emirate. Several property projects, including Cape Hayat on Hayat Island (Mina Al Arab) and the complete inventory on Al Marjan Island in RAK have been reported as sold out, underscoring the growing interest and confidence in the real estate sector.

Additionally, RAK's emphasis on mega hotel projects has played a significant role in fuelling the freehold residential boom, creating a dynamic landscape for both investors and developers. These developments collectively highlight Ras Al Khaimah's position as