Ras Al Khaimah Property Prices Expected to Jump 50% Before Wynn Casino Launch
Ras Al Khaimah Property Prices Expected to Jump 50% Before Wynn Casino Launch
Ras Al Khaimah’s property market is booming! The most popular areas right now are Al Marjan Island, Mina Al Arab, and Al Hamra Village. These spots, especially the ones with private beaches, are in high demand.
Al Marjan Island is the top choice for investors. Al Hamra Village and Mina Al Arab are also attracting buyers, mainly those looking for homes to live in. According to Luxury Link Properties (LLP), property prices in Ras Al Khaimah have jumped 20-25% in the past eight months.
The trend is clear: new property launches on Al Marjan Island are pushing prices higher with each phase. There have been about 1-2 new property launches each week over the last three months, offering everything from luxury branded homes to more budget-friendly options.
High Demand for Small Units in Ras Al Khaimah
LLP’s data shows that studios and one-bedroom units are the most sought after. Investors are snapping these up for holiday and short-term rentals. In the last quarter alone, studio prices have gone up by 10-15%, and one-bedroom units by 5-10%.
Bigger properties, like branded apartments, three-bedroom units, and waterfront villas costing AED 7 million and up, are also popular. People are buying these as their main homes or as holiday getaways.
“One of our clients who bought a two-bedroom apartment in Mina Al Arab in early May has already seen its value increase by AED 500,000—a 24% rise in just a few weeks,” the report stated.
Special Offers and Investment Opportunities
To keep the market buzzing through the slower summer months, developers are offering special promotions. These include post-handover payment plans, waived registration fees, and other deals that last until the end of August.
UAE Real Estate Expert said, “The rise in property prices in Ras Al Khaimah shows how attractive the emirate is becoming for real estate investors. With ongoing developments and growing demand, we expect prices to go up by 50% by the time the casino opens. For investors, the time to act is now.”
Al Marjan Island is the top investment spot, while Al Hamra Village and Mina Al Arab are favorites for those looking to live in Ras Al Khaimah. Projects like JW Marriott Residences are also seeing a lot of interest, with a recent deal involving six units for over AED 20 million.
LLP reports that Ras Al Khaimah is attracting strong interest from investors worldwide, especially from the US, UK, Europe, CIS, and a growing number of Chinese investors.
