Here are the leading nationalities purchasing properties in Ras Al Khaimah in 2024.

Property prices in Ras Al Khaimah have surged by up to 25% over the past eight months, and forecasts indicate a further 50% increase before the Wynn Al Marjan resort opens in 2027.

“The sharp rise in property prices in Ras Al Khaimah reflects the emirate's growing appeal as a real estate investment hub. With ongoing developments and rising demand, we expect prices to soar by 50% by the time the resort opens. For investors looking to capitalize on this market, the time to act is now,” said Maxim Novikov, head of the RAK branch at Metropolitan Premium Properties (MPP).

The Ras Al Khaimah market is drawing keen interest from investors, especially from the US, UK, Europe, and CIS countries, with increasing attention from Chinese investors as well.

The property market in this northern emirate is witnessing a significant boom, evident from the flurry of activity with one or two property launches every week over the past three months. This has brought greater diversity to the market, ranging from high-end branded properties to more affordable options.

This trend is particularly pronounced on Al Marjan Island, a rapidly developing area where launches are frequent, and prices escalate with each new phase.

According to MPP data, there is high demand for studios and one-bedroom units, driven by investors seeking attractive holiday and short-term rental opportunities. Studios have seen price increases averaging 10-15% in the last quarter, while one-bedroom units have risen by at least 5-10%.

Larger properties are also gaining significant interest, particularly branded apartments, three-bedroom units, and waterfront villas priced at Dh7 million and above. These are popular among buyers looking for personal residences or second holiday homes.

Currently, the most sought-after areas include Al Marjan Island, Mina Al Arab, and Al Hamra Village, with projects featuring private beaches experiencing the highest demand. Al Marjan Island remains the top choice for pure investment due to its high potential returns, while Al Hamra Village and Mina Al Arab attract investors seeking properties for personal use.