- Areas for Buying Apartments
- Areas for Buying Villas
- Areas for Renting Apartments
- Areas for Renting Villas
2024 marked a successful chapter for Ras Al Khaimah’s property market. This growing emirate attracted a diverse range of investors, buyers and tenants. The region has witnessed substantial growth, especially in popular areas including Al Marjan Island, Al Hamra Village and Mina Al Arab.
The completion and launch of off-plan developments have also significantly contributed to the market’s growth this year. Notable off-plan projects such as the Bay Views residential complex at Mina Al Arab and the luxury beachfront villas by RAK Properties have not only attracted investor interest but also driven an upward trend in property values.
The total sales transactions in Ras Al Khaimah have amounted to AED 5.23B from January to September 2024. The emirate’s growth can be attributed to a combination of factors. dubizzle has also effectively contributed to this growth by providing verified property listings, easier property handling and a user-centric platform. The number of active property listings on our platform has increased by an impressive 119.6% compared to 2023, while agencies’ posted listings have risen by 72.6%, indicating a surge in market activity and platform engagement.
In addition to the market’s impressive sales figures, Ras Al Khaimah’s real estate sector has seen substantial progress. The upcoming real estate projects in RAK by top developers have also played a major role in making the emirate a hotspot by attracting both local and international investors. Key development projects have included the Bay Views residential complex at Mina Al Arab with 344 units and a collection of luxury beachfront villas by RAK Properties, set for completion by 2028.
Real estate developers in RAK also offer attractive incentives including flexible payment plans and waived registration fees, among others. The opening of major developments such as UAE’s first casino in Wynn Resort has further elevated property value, enhancing RAK’s appeal as a premier destination.
Ras Al Khaimah has seen a notable surge in rental prices, driven by growing demand for housing and expanding population. The tourism sector has played a pivotal role in this growth, with the completion of the Anantara Mina Al Arab Beach Resort this year, featuring luxurious overwater villas that attract tourists. Additionally, adventure tourism initiatives, such as Jais Flight—the world’s longest zipline— have further enhanced the emirate’s global appeal. Coupled with ongoing investments in infrastructure, including road connectivity and sustainable urban developments, Ras Al Khaimah is cementing its position as a dynamic destination for both living and leisure.
The Ras Al Khaimah annual property market report 2024 has given an in-depth analysis of real estate trends in the emirate. It has examined the climbing sales prices and the shifts in average rent.
Let’s take a look at the key highlights of the Ras Al Khaimah property market in 2024.
- Al Marjan Island has recorded a significant surge in the average annual rent and sales price of apartments.
- Al Refaa has experienced the highest increase of 24.32% in the average annual rent of villas.
- The apartments for sale in Yasmin Village have recorded the highest ROI of 11.26%.
- As for villas for sale in RAK, Mina Al Arab has recorded the highest ROI of 4.09%.
- Al Hamra Village saw a significant boost in the average sales price of villas in 2024.
- For buying villas in RAK, Al Hamra Village and Mina Al Arab have held the top positions with an average sales price of AED 5.61M and AED 4.72M, respectively.
Popular Areas for Buying Apartments in RAK in 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | Studio | 1-Bed | 2-Bed |
|---|---|---|---|---|---|
| Al Marjan Island | ROI 3.22% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Al Hamra Village | ROI 5.00% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Yasmin Village | ROI 11.26% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Mina Al Arab | ROI 3.29% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Al Seer | ROI 7.16% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||||
Apartments in Ras Al Khaimah have continued to attract investors in 2024, thanks to their growing demand. These flats have generally been priced between AED 318k and AED 3M. With an increase in average sales prices, these apartments offer promising returns and modern living standards.
According to search trends dubizzle, here are the top areas to buy apartments in RAK in 2024.
Al Marjan Island
Al Marjan Island has been among the favoured areas for buying apartments in RAK. Known for its luxurious waterfront properties, the community offers a serene lifestyle. The area is also home to many new projects in RAK.
- In 2024, the asking price for apartments in Al Marjan Island has averaged AED 3M, with an ROI of 3.22%.
- The price per square foot has increased to AED 2,247 in 2024.
- As for the studio, 1-bed and 2-bed units, their sale prices have averaged AED 980k, AED 2.05M and AED 3.2M, respectively.
Al Hamra Village
Al Hamra Village has remained one of the top choices for property buyers. It offers a mix of affordability and luxury. The community is ideal for families looking for a comfortable living environment and investors seeking high returns. The neighbourhood also hosts multiple community events and offers a vibrant lifestyle.
- Apartments in Al Hamra Island have recorded an average asking price of AED 1.24M and an ROI of 5% in 2024.
- The per-square-foot price of apartments for sale in Al Hamra Villas has been recorded at AED 1,093.
- The average sales price for studio, 1-bed and 2-bed flats has increased to AED 497k, AED 970k and AED 1.83M, respectively.
Yasmin Village
Yasmin Village, celebrated for its scenic mountain views, is one of the popular communities to buy apartments in RAK. Its overall setup and landscaped surroundings offer a peaceful lifestyle for those seeking budget-friendly housing options.
- Apartments in Yasmin Village have recorded an average price of AED 318k in 2024, along with an ROI of 11.26%.
- After a surge of 4.73%, the average per-square-foot price for apartments has reached AED 273.
- The sales price for 1 and 2-bedroom apartments for sale in Yasmin Village has been recorded at AED 272k and AED 324k respectively.
Moreover, Mina Al Arab and Al Seer have secured the fourth and fifth spots among the popular areas to buy apartments in RAK. The price of apartments for sale in Mina Al Arab has averaged AED 1.75M. It has offered a return on investment of 3.29%. Al Seer has delivered an ROI of 7.16% with an average price of AED 481k.
Popular Areas for Buying Villas in RAK in 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | 3-Bed | 4-Bed | 5-Bed |
|---|---|---|---|---|---|
| Al Hamra Village | ROI 4.03% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
| Mina Al Arab | ROI 4.09% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
| Al Dhait | ROI 3.64% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
| Al Marjan Island | ROI N/A | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
| The Ritz-Carlton Residences | ROI N/A | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| 3-Bed
| 4-Bed
| 5-Bed
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||||
The asking price of villas in RAK has ranged from AED 2.40M and AED 21.92M. Villas have remained a preferred choice for those looking for a spacious and luxurious home. The emirate’s villa market has seen stable demand in 2024 supported by family-friendly amenities and scenic locations.
As per dubizzle analysis, the top areas to buy villas in RAK that combine modern elegance with excellent facilities are as follows.
Al Hamra Village
As per search trends on dubizzle, buyers have shown a keen interest in buying a villa in Al Hamra Village. This premium neighbourhood offers a vibrant lifestyle and is a hub for luxury living. It also boasts a community pool, green spaces and easy access to Al Hamra Marina and Yacht Club.
- In 2024, the average sale price of villas in Al Hamra Village has been recorded at AED 5.61M, with an ROI of 4.03%.
- The per-square-foot price for villas in the area has averaged AED 1,101.
- The average price of 3, 4 and 5-bedroom villas has reached AED 2.32M, AED 5.08M and AED 14.05M, respectively.
Mina Al Arab
Mina Al Arab offers a harmonious blend of nature and modern living. Known for its lush green spaces and eco-friendly design, this community is ideal for families and individuals who value a tranquil environment. The waterfront homes in the area are particularly sought after. They offer stunning views and a peaceful ambience.
- The villas for sale in Mina Al Arab has recorded an average price of AED 4.72M in 2024, delivering an ROI of 4.09%.
- In 2024, the price per square foot for villas has averaged AED 1,240.
- The asking price of 3, 4 and 5-bedroom villas has averaged AED 2.86M, AED 5.81M and AED 10.15M, respectively.
Al Dhait
Al Dhait is popular for its spacious layouts and proximity to essential services. With a mix of modern and traditional homes, Al Dhait appeals to families looking for a suburban lifestyle with easy city access. it is one of the top locations to buy beachfront villas in RAK.
- In 2024, villas for sale in Al Dhait have reflected an average price of AED 2.4M, with an ROI of 3.64%.
- The per-square-foot price of villas in Al Dhait has averaged AED 325.
Al Marjan Island and The Ritz-Carlton Residences are next on the list. As per dubizzle data, the average sales price of villas in these areas has amounted to AED 21.93M and AED 18.54M, respectively.
Popular Areas for Renting Apartments in RAK in 2024
POPULAR AREAS | Studio Avg. Yearly RentChange from 2023 | 1-Bed Avg. Yearly RentChange from 2023 | 2-Bed Avg. Yearly RentChange from 2023 |
|---|---|---|---|
| Al Hamra Village | Studio Avg. Yearly RentChange from 2023
| 1-Bed Avg. Yearly RentChange from 2023
| 2-Bed Avg. Yearly RentChange from 2023
|
| Al Marjan Island | Studio Avg. Yearly RentChange from 2023
| 1-Bed Avg. Yearly RentChange from 2023
| 2-Bed Avg. Yearly RentChange from 2023
|
| Al Seer | Studio Avg. Yearly RentChange from 2023
| 1-Bed Avg. Yearly RentChange from 2023
| 2-Bed Avg. Yearly RentChange from 2023
|
| Al Nakheel | Studio Avg. Yearly RentChange from 2023
| 1-Bed Avg. Yearly RentChange from 2023
| 2-Bed Avg. Yearly RentChange from 2023
|
| Mina Al Arab | Studio Avg. Yearly RentChange from 2023
| 1-Bed Avg. Yearly RentChange from 2023
| 2-Bed Avg. Yearly RentChange from 2023
|
The rental market for apartments in RAK has shown growth in 2024. Apartments in the emirate have generally been rented out for AED 22k to AED 56k per year. In 2024, the asking rent for apartments has seen an increase of 22.28% from 2023. These flats continue to be the preferred rental option for tenants looking for convenience.
Here are the leading areas to rent an apartment in RAK based on dubizzle’s latest property trends.
Al Hamra Village
Tenants are drawn to Al Hamra Village’s resort-like amenities including a golf course and beach access. These amenities offer a relaxed yet vibrant lifestyle.
- Tenants have paid an average of AED 48k for rental apartments in Al Hamra Village, showing an upward trend of 26.32%, driven by infrastructure developments and the launch of the first licensed casino just 5km away from Al Hamra Village.
- The average annual rent has increased to AED 30k, AED 45k and AED 69k for studio, 1 and 2-bedroom apartments, respectively.
Al Marjan Island
As per dubizzle analysis, Al Marjan Island is another popular area to rent apartments in RAK. It consists of four islets – Dream Island, Treasure Island, Breeze Island and View Island. The community home to several property types offers leisure activities such as eateries and beaches. All these factors make the area an attractive option for living.
- The average annual cost of rental apartments in Al Marjan Island has been recorded at AED 56k.
- The annual rent of studio, 1 and 2-bedroom apartments have averaged AED 39k, AED 56k and AED 79k, respectively.
Al Seer
Al Seer attracts tenants with its central location. Situated on the RAK harbour shore, the area provides scenic waterfront views. Its proximity to shopping centres and public transport makes it a practical choice for tenants looking for a convenient living experience.
- The rent of apartments in Al Seer has averaged AED 27k after a 22.73% surge. This increase has been attributed to important infrastructure developments in the area such as the expansion of RAK airport and enhanced road links.
- In 2024, the average rent per annum for studio, 1 and 2-bedroom apartments have increased to AED 19k, AED 25k and AED 34k, respectively.
Claiming fourth place, Al Nakheel has recorded a slight decline in apartment rent, averaging AED 22k in 2024. Meanwhile, apartments for rent in Mina Al Arab ranked fifth. The rent per annum in the area has averaged AED 50k.
Popular Areas for Renting Villas in RAK in 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | Studio | 1-Bed | 2-Bed |
|---|---|---|---|---|---|
| Al Marjan Island | ROI 3.22% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Al Hamra Village | ROI 5.00% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Yasmin Village | ROI 11.26% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Mina Al Arab | ROI 3.29% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Al Seer | ROI 7.16% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| Studio
| 1-Bed
| 2-Bed
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||||
Villas have been in high demand in 2024 among families looking for comfortable homes. Annual rent for villas in RAK has averaged between AED 76k and AED 163k. Demand for rental villas has remained steady with attractive pricing and easy access to key amenities.
As per dubizzle search trends, the following have been the most popular areas to rent villas in RAK in 2024.
Al Hamra Village
Tenants seeking a waterfront living experience can rent villas in Al Hamra Village. The mixed-use waterfront community features a mix of residential units, leisure facilities, hotels and resorts.
- The average annual rent of villas in the area has been recorded at AED 146k after an increase of 13.18% in 2024. This increase can be attributed to ongoing infrastructure advancements, enhancing the appeal of the area.
- Moreover, the rent per annum has averaged AED 118k, AED 133k and AED 322k for 3, 4 and 5-bedroom villas.
Al Dhait
Rental villas in Al Dhait remain popular among renters seeking spacious homes. The area’s peaceful environment and family-friendly vibe are key factors driving demand.
- The average annual rent of villas in Al Dhait has increased to AED 84k after a 16.67% boost from last yea,r driven by improved infrastructure and the introduction of the casino this past year.
- On average, the annual rent of 3, 4 and 5-bedroom villas in Al Dhait has been recorded at AED 64k, AED 87k and AED 100k.
Khuzam
Khuzam has emerged as an attractive option for renting villas in 2024. Its proximity to RAK’s city centre makes it a practical choice for families and professionals alike.
- The rental villas in Khuzam have averaged AED 76k.
- The 4 and 5-bedroom villas in Khuzam have recorded an annual rent of AED 61k and AED 87k.
Mina Al Arab and Al Refaa have secured fourth and fifth positions. They have remained popular among tenants searching for villas. The annual rent in these areas averaged AED 163k and AED 92k, respectively.
With that, we wrap up our Ras Al Khaimah annual property market report 2024. The emirate’s property market has demonstrated remarkable growth with a significant increase in sales prices and asking rent for most areas. This rising demand is mostly driven by the launch of new off-plan properties by leading real estate developers in the UAE.
Those looking to leverage this growing market can explore the properties for sale in RAK. Besides, if renting aligns more with your plans, you can rent properties in RAK at different attractive rates.
Stay connected to dubizzle’s property blog to learn more about the UAE’s real estate market and its trends.
Disclaimer: The prices mentioned in the 2024 annual property market report for Ras Al Khaimah have been extracted from dubizzle. They do not necessarily represent the actual real estate transactions regulated in the Emirates.
