Ras Al Khaimah Real Estate Market Soars: Investors Urged to Act Before 50% Price Hike

The Ras Al Khaimah real estate market is experiencing unprecedented growth, with property prices projected to rise by 10-15% in 2024, following a remarkable 50% increase in 2023. Industry experts attribute this boom to the upcoming Wynn Al Marjan Resort, set to open in 2027, which is driving investor interest and transforming the emirate’s landscape.

Maxim Novikov, head of the RAK branch at Metropolitan Premium Properties, urges potential investors to act swiftly:

With ongoing developments and increasing demand, we anticipate prices to rise by 50% by the time the casino opens. For investors looking to take advantage of the market, the time to act is now.

The most sought-after areas include Al Marjan Island, Mina Al Arab, and Al Hamra Village, with projects featuring private beaches seeing the highest demand. Studios and one-bedroom units are particularly popular, experiencing price jumps of 10-15% and 5-10% respectively in the last quarter alone.

International investors from the US, UK, Europe, and CIS countries are flocking to RAK, drawn by the promise of high returns and the allure of the upcoming Wynn resort. The development is expected to attract millions of visitors annually, boosting both short-term accommodations and long-term residential property demand.

Investors seeking to capitalize on this booming market are encouraged to explore opportunities in RAK’s diverse property offerings, from luxury branded residences to more affordable units, before prices surge further.