It may be true that Dubai almost had no existence prior to the beginning of the 21st century. However, the emirate has grown at a tremendous rate, in terms of both local and international demand. Dubai became a hub for many investors from within as well as outside of the United Arab Emirates.
For years, Dubai has dominated the real estate market not only within the UAE but almost the entire world. The emirate has grown so much bigger and more attractive, most people from around the world don’t even realize it is not a country but just a city.
Many people find it difficult to accept that just like Abu Dhabi, Dubai is one of the emirates (cities) in the UAE. However, the prominence of this emirate is so large that many people don’t even know that it has several neighboring emirates.
Ras Al Khaimah is Emerging Fast
Ras Al Khaimah is also among the emirates of the UAE. Although this city hasn’t gained as much recognition as its neighboring emirate (Dubai), it has indeed started gaining fast growth in the real estate sector.
From the looks of it, Ras Al Khaimah may succeed in rivaling the magnanimity of Dubai and Abu Dhabi in terms of real estate demand. The city is catching up fast to the likes of Dubai and Abu Dhabi, so it is important to look at its real estate market situation.
Ras Al Khaimah has become one of the most attractive cities for new apartments and flats. Whether it is buying apartments or flats, the emirate is ready to offer all kinds of services.
One Bedroom Sale/Renting Demands
The majority of the flats being purchased in Ras Al Khaimah are one-bedroom apartments. The asking selling price for these flats is AED 350,000, but the figure is much lower when it comes to renting. The average price for renting an apartment with one bedroom is AED 30,000, which is the yearly rent for
The price growth rate for the apartments in Ras Al Khaimah has been extremely fast. In just a matter of a year, the values of the apartments in the emirate have surged by 17.5 percent.
Ras Al Khaimah offers a great opportunity for investors to purchase properties in the city. Whether you are aiming to live in this emirate or buy a property to make a profit in the future, know that this place is becoming more promising with time.
The values of properties in this emirate are only going to go up at a fast rate so it is the right time to make a move. People can invest in this city now to buy multiple properties and make plenty of profits by selling them.
RAK has a Lot of Potential
It is true that Dubai is constantly becoming the top country in the entire world when it comes to advancements and free zones.
Other emirates have also started to come up with several development projects and ideas that are similar to Dubai and Abu Dhabi.
Because Ras Al Khaimah is among these emirates, it is constantly becoming more attractive for investors. The gross yields factor is becoming more and more promising for investors if they invest in Ras Al Khaimah.
The prices of properties in the city are much lower compared to Dubai but the investors know that it is undergoing several developments. All of these things have made sense to the investor and they are going all in to invest in this city.
Although technological advancements are in the pipeline for Ras Al Khaimah, the primary focus is on the infrastructure of the city. This is the right time to make investments in Ras Al Khaimah before it starts catching up to Dubai’s technological status.
When that happens, even more investors will rush to invest in the city and the prices of properties would skyrocket. This may only shrink the yields from investments in the real estate market of Ras Al Khaimah.
Conclusion
The entire UAE is experiencing a fast transition to becoming a technology-driven country. To achieve this, the country is offering many opportunities to the local and international businesses/investors, to contribute to that transition. This means that the country is going to become more advanced with time and more businesses would like to open up in its major cities.
As Ras Al Khaimah is also among these major cities, it is going to witness a major influx of investments from local/international investors. Now is the time to invest in the real estate markets in Ras Al Khaimah so huge yields can be generated from that.
