Ras Al Khaimah (RAK) is a perfect blend of natural sceneries and modern infrastructure, making it a perfect city to live in. In recent years, the Emirate has emerged as the new urban centre of the country. That said, residents can find an array of properties ranging from luxury villas to apartments to live in RAK. However, choosing the appropriate area for buying an apartment in RAK can be a daunting task.
For your convenience, here we have mentioned some of the top areas of RAK to buy apartments.
List of Top Areas to Buy Apartments in RAK
According to dubizzle’s RAK property market report H1 2023, the following are the top areas to buy apartments in RAK.
Al Hamra Village
Al Hamra Village is located in the southern part of RAK, surrounded by lush gardens and high-end recreational spaces. The waterfront community is ideal, offering all the amenities required for a luxurious lifestyle. Al Hamra Mall, Al Hamra Marina & Yacht Club and Al Hamra Golf Club are only a few to count.
The apartment complexes in Al Hamra feature modern architecture accompanied by top-notch amenities. The apartments have double-glazed windows, ceramic tiles, built-in wardrobes, balconies and a community swimming pool. To park the vehicle, the majority of apartments have basement parking spaces.
To avail of all of this, investors have paid an average price of AED 566k. For studio apartments, the price has been AED 298k and AED 497k for a 1-bedroom apartment. The average yielded ROI on the apartments has been 7.60%.
Al Marjan Island
Al Marjan is one of the man-made islands in the UAE located at the border of RAK and Umm Al Quwain. The island is constructed in four islets, together forming a coral shape. Al Marjan Island spans an area of 155 acres and is home to world-class beach resorts, apartments and villas. Here is the complete guide of hotels on Marjan Island that you can avail of.
Al Marjan Island is directly connected with Al Ittihad Street (E11), providing easy access to major city centres. For public transport, residents can opt for the RAK bus service. Grocery stores like Zoom, Al Sanad Supermarket and Fresh Plus Grocery & Café are present within the community for the convenience of residents.
To buy an apartment in Al Marjan Island, residents have paid an average price of AED 807k with an ROI of 6.73%. Whereas the prices of studio 1 and 2-bedroom apartments have been AED 355k, AED 663k and AED 1.1M in H1 2023.
Mina Al Arab
The community of Mina Al Arab is nestled between the Arabian Sea shoreline and Sheikh Muhammad Bin Salem Road (E11). The area is constructed considering the ecological factors, and the natural wetlands and dunes surrounding Mina Al Arab are well preserved. That said, residents can leverage natural sceneries and trails within the community. The waterfront community of Mina Al Arab is further divided into sub-communities, each offering different types of properties.
For public transport, residents must drive 12 minutes to the nearest bus station at Al Nadiyah. Therefore, it is recommended to use personal transport when living in Mina Al Arab. If you do not have personal transport, browse through these used cars for sale in RAK and purchase a car now within your budget.
The average price of apartments for sale in Mina Al Arab for the H1 2023 has been AED 1.1M. The price of a studio apartment has been AED 451k, and AED 831k for 1-bedroom apartments. However, on this investment, the estimated ROI yield has been 4.74%.
Yasmin Village
If you want to avail the benefits of living in a gated community, then Yasmin Village is for you. Yasmin Village is a gated community surrounded by lakes and the Al Hajjar Mountains featuring low-rise buildings. Yasmin Village is dotted in the outskirts of the Emirate, making it a perfect tranquil community to live in.
The central bus station is a 13-minute drive from the community. Therefore, taxis and private cars are more often used for transportation. For grocery shopping, residents can opt for Al Waha Hypermarket, Al Anbar Supermarket and Al Bayan Supermarket.
The average price of apartments for sale in Yasmin Village has been AED 308k. Whereas 11.70% has been the estimated ROI on the apartments in Yasmin Village. The recorded prices were AED 246k and AED 301k for 1 and 2-bedroom apartments, respectively.
Al Seer
The last on our list of top areas to buy apartments in RAK is Al Seer. Al Seer is located at the RAK harbour, making it a partial waterfront community. The community features a blend of residential and commercial buildings, including a number of government offices. That said, Al Seer is surrounded by other city commercial centres like Dafan Al Nakheel, Al Nakheel and Al Mamourah.
Residential buildings in Al Seer are equipped with built-in wardrobes, fitted kitchens, basement parking and spacious living rooms. Moreover, residents can leverage the view of RAK harbour from their balconies.
To avail of all these features, buyers have paid an average sales price of AED 234k to buy apartments with an estimated ROI of 8.89%. The price for studio, 1 and 2-bedroom apartments has been AED 189k, AED 300k and AED 362k, respectively.
FAQs
Is RAK good for investment?
In recent decades, RAK has evolved as the next real estate investment centre with a number of new developments and off-plan projects.
Which are the best areas to buy an apartment in RAK?
To buy an apartment in RAK, Al Hamra Village, Al Marjan Island, Mina Al Arab, Yasmin Village and Al Seer are the most preferred areas.
Is living in RAK cheaper than living in Dubai?
Yes, the living cost of RAK is lower, contrary to Dubai, mainly due to the lower real estate prices in RAK.
This was the complete list of popular areas to buy apartments in Ras Al Khaimah. The Emirate is continuously evolving itself to be the new city centre of the country. Ranging from affordable apartments to luxury villas, you can find all sorts of properties in RAK. That said, if you are also interested in availing of this growing real estate market, browse through these apartments for sale in Ras Al Khaimah and invest in real estate today.
Besides, if you are planning to rent out your apartment, here is how to register a tenancy contract online in RAK.
Stay tuned to dubizzle’s property blog for more information on flats for sale in Ras Al Khaimah.
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