Want to Buy Real Estate in Ras Al Khaimah? Write a Request in WhatsApp and Real Estate Group Will Find the Best Options for You. Everyone Buys With Us!
Introduction: How to Invest in Real Estate in Ras Al Khaimah in 2024.
Ras Al Khaimah is one of the seven emirates that make up the United Arab Emirates (UAE), and one of the fastest-growing and most attractive destinations for real estate investors in the region. The emirate offers a range of properties, such as studios, apartments, houses, and villas, in various locations, such as Al Marjan Island, Mina Al Arab, Dafan Al Nakheel, Yasmin Village, and Al Hamra Village.
These properties offer a mix of natural and urban elements, creating a harmonious and sustainable environment, with a range of world-class facilities and amenities, such as resorts, hotels, malls, schools, and hospitals. Moreover, the emirate offers a tax-free environment, which means that there are no income taxes, corporate taxes, or value-added taxes for businesses and individuals.
However, before investing in real estate in Ras Al Khaimah, it is important to be aware of the costs and charges that apply to different types of transactions and strategies, as well as the risks and uncertainties that may arise in relation to the property.
In this article, Real Estate Group will cover the following topics:
1. The taxes, fees, levies and surcharges that real estate investors will need to pay in Ras Al Khaimah in 2024, based on the following four strategies:
- Flipping - buying ready-made apartments, making modern repairs, improvements, individual design, furniture, kitchen and household appliances, lighting, decor and reselling them.
- Buying ready-made apartments, carrying out in them modern repair, improvement, individual design, furniture, kitchen and household appliances, lighting, decor and renting them for long-term rent for 1 year or more.
- Buying apartments in residential complexes under construction with subsequent resale for a quick profit.
- Buying apartments in residential complexes under construction and then renting them out for a period of 1 year or more.
2. The price growth forecasts for studios, apartments, houses and villas in the five locations of Ras Al Khaimah, based on the current trends and future projections.
3. The risks of buying real estate in Ras Al Khaimah, such as market risk, construction risk, legal risk, and how to insure against them.
By the end of this article, you will have a comprehensive and informative guide on how to invest in real estate in Ras Al Khaimah in 2024, and how to maximize your return on investment (ROI) and minimize your risk exposure. Real Estate Group hope you enjoy reading this article and learn something new.
Chapter 1. Al Hamra Village: A Premier Destination for Living and Investing in Ras Al Khaimah.
Al Hamra Village is one of the most popular and prestigious neighborhoods in Ras Al Khaimah, offering a range of world-class facilities and amenities for residents and visitors alike. In this chapter, Real Estate Group will explore the various aspects of Al Hamra Village, such as its location, business life, cultural life, education, shopping and entertainment, health, and real estate.
1. Location.
- Al Hamra Village is a mixed-use waterfront community that covers an area of 77 million sq. ft. in the southern part of Ras Al Khaimah.
- Al Hamra Village is strategically located near the Ras Al Khaimah International Airport (25 km.) and the Dubai International Airport (45 minutes by car), making it easily accessible for travelers and commuters.
- Al Hamra Village boasts a 7 km long white sandy beach, a 200-berth marina, and a championship golf course, providing stunning views and recreational opportunities for residents and visitors.
- Al Hamra Village has a population of over 10,000 people, comprising of various nationalities and backgrounds, creating a diverse and vibrant community.
2. Business Life.
Al Hamra Village is home to several business centers and companies that cater to different sectors and industries, such as tourism, hospitality, retail, education, and health.
Some of the prominent business centers and companies in Al Hamra Village are:
- Al Hamra Business Tower: A 24-storey commercial tower that offers state-of-the-art office spaces, meeting rooms, and conference facilities, with panoramic views of the Arabian Gulf and the golf course.
- Al Hamra Mall: A two-storey shopping center that hosts over 120 retail outlets, including international brands, local shops, and a hypermarket, as well as a food court, a cinema, and a kids’ play area.
- Waldorf Astoria Ras Al Khaimah: A luxury hotel that features 346 rooms and suites, 10 restaurants and bars, a spa, a fitness center, and a private beach, as well as a grand ballroom and several meeting rooms for events and functions.
- RAK Hospital: A premium healthcare facility that offers a range of medical services, such as cardiology, orthopedics, neurology, dentistry, and cosmetic surgery, as well as a pharmacy, a laboratory, and a radiology department.
Al Hamra Village is beneficial for establishing business and residence for professionals from different companies because:
- It offers a freehold ownership scheme, which allows foreigners to buy and sell properties without any restrictions or fees.
- It provides a tax-free environment, which means that there are no income taxes, corporate taxes, or value-added taxes for businesses and individuals.
- It supports a work-life balance culture, which means that professionals can enjoy a high quality of life, with access to various leisure and entertainment options, as well as a safe and secure neighborhood.
3. Cultural Life.
Al Hamra Village has a rich and diverse cultural life, with various attractions, museums, and exhibitions that showcase the history, heritage, and art of Ras Al Khaimah and the UAE.
Some of the cultural attractions and museums in and near Al Hamra Village are:
- Al Hamra Museum: A museum that displays the history and development of Al Hamra Village, from its origins as a fishing and pearling village, to its transformation into a modern and luxurious community.
- RAK National Museum: A museum that exhibits the archaeological, historical, and ethnographical collections of Ras Al Khaimah, dating back to the prehistoric, Islamic, and colonial periods.
- RAK Fine Arts Festival: An annual festival that showcases the works of local and international artists, in various mediums such as painting, photography, sculpture, and digital art, at different venues across Ras Al Khaimah.
Some of the interesting events and shows that took place in the Al Hamra Village area in 2022 and 2023 and which are planned to take place in 2024 - 2025 are:
- Al Hamra New Year’s Eve Gala Dinner and Fireworks: A spectacular event that celebrates the end of the year and the beginning of the new one, with a lavish buffet dinner, live entertainment, and a dazzling fireworks display at the Al Hamra Golf Club.
- Al Hamra Classic Car Festival: A unique event that showcases the vintage and classic cars of various models and makes, from the 1920s to the 1980s, at the Al Hamra Marina and Yacht Club.
- Al Hamra Jazz Festival: A musical event that features the performances of local and international jazz artists and bands, at the Al Hamra Convention Center and the Waldorf Astoria Ras Al Khaimah.
4. Education.
Al Hamra Village has a number of schools and universities that offer quality education for children and adults, in various curricula and disciplines.
Some of the schools and universities in and near Al Hamra Village are:
- RAK Academy: A school that follows the British curriculum, from the early years to the secondary level, with a focus on academic excellence, personal development, and global citizenship.
- GEMS Westminster School: A school that follows the British curriculum, from the foundation stage to the advanced level, with a focus on innovation, creativity, and leadership.
- American University of Ras Al Khaimah: A university that offers undergraduate and graduate programs in various fields, such as engineering, business, arts, and sciences, with a focus on research, community engagement, and internationalization.
- RAK Medical and Health Sciences University: A university that offers undergraduate and graduate programs in various fields, such as medicine, dentistry, pharmacy, and nursing, with a focus on excellence, professionalism, and ethics.
5. Shopping and Entertainment.
Al Hamra Village has a variety of shopping and entertainment options, that cater to different tastes and preferences, from fashion and lifestyle, to dining and nightlife.
Some of the shopping and entertainment centers in Al Hamra Village are:
- Al Hamra Mall: As mentioned earlier, this is a shopping center that hosts over 120 retail outlets, including international brands, local shops, and a hypermarket, as well as a food court, a cinema, and a kids’ play area.
- Al Hamra Marina and Yacht Club: This is a marina and yacht club that offers a range of water sports and activities, such as sailing, fishing, kayaking, and jet skiing, as well as a restaurant, a bar, and a lounge.
- Al Hamra Golf Club: This is a golf club that features an 18-hole par 72 championship golf course, designed by Peter Harradine, that challenges and delights golfers of all levels, as well as a clubhouse, a restaurant, and a pro shop.
- The Bay Sports Bar: This is a sports bar that offers a lively and casual atmosphere, with multiple screens showing live sports events, such as football, rugby, cricket, and tennis, as well as a menu of snacks, drinks, and shisha.
- Trader Vic’s Mai Tai Lounge: This is a lounge that offers a tropical and exotic vibe, with a menu of signature cocktails, such as the Mai Tai, and a selection of Polynesian-inspired dishes, such as the Tiki Puka Puka and the Cheese Balls.
6. Health.
Al Hamra Village has a number of medical clinics, hospitals, and health care organizations that provide quality and affordable health care services for residents and visitors.
Some of the health care facilities in and near Al Hamra Village are:
- RAK Hospital: As mentioned earlier, this is a premium health care facility that offers a range of medical services, such as cardiology, orthopedics, neurology, dentistry, and cosmetic surgery, as well as a pharmacy, a laboratory, and a radiology department.
- Al Hamra Medical Center: This is a medical center that offers a range of primary and specialty health care services, such as family medicine, pediatrics, gynecology, dermatology, and physiotherapy, as well as a pharmacy and a laboratory.
- Al Zahrawi Hospital: This is a hospital that offers a range of secondary and tertiary health care services, such as emergency, intensive care, surgery, radiology, and laboratory, as well as a pharmacy and a blood bank.
- RAK Diabetes Center: This is a center that offers a comprehensive and holistic approach to diabetes management, with a team of specialists, educators, and counselors, as well as a pharmacy, a laboratory, and a nutrition clinic.
7. Real Estate.
Al Hamra Village is one of the best places to invest in residential or commercial real estate in Ras Al Khaimah, as it offers a variety of properties, such as apartments, villas, townhouses, and penthouses, with attractive prices, returns, and amenities.
According to Real Estate Group, the average prices and ROI of properties in Al Hamra Village are as follows:
- Apartments: The average price of an apartment in Al Hamra Village is AED 500,000 ($136,240), ranging from AED 200,000 ($54,496) for a studio to AED 1,750,000 ($476,839) for a 4-bedroom unit. The average rental yield of an apartment in Al Hamra Village is 8.5%, ranging from 7.5% for a studio to 9.5% for a 4-bedroom unit.
- Villas: The average price of a villa in Al Hamra Village is AED 2,500,000 ($681,199), ranging from AED 1,000,000 ($272,479) for a 2-bedroom unit to AED 12,500,000 ($3,405,994) for a 5-bedroom unit. The average rental yield of a villa in Al Hamra Village is 5.5%, ranging from 4.5% for a 2-bedroom unit to 6.5% for a 5-bedroom unit.
- Townhouses: The average price of a townhouse in Al Hamra Village is AED 1,500,000 ($408,719), ranging from AED 800,000 ($217,984) for a 2-bedroom unit to AED 2,500,000 ($681,199) for a 4-bedroom unit. The average rental yield of a townhouse in Al Hamra Village is 7%, ranging from 6% for a 2-bedroom unit to 8% for a 4-bedroom unit.
- Penthouses: The average price of a penthouse in Al Hamra Village is AED 2,000,000 ($544,959), ranging from AED 1,000,000 ($272,479) for a 2-bedroom unit to AED 3,000,000 ($817,439)for a 4-bedroom unit. The average rental yield of a penthouse in Al Hamra Village is 6.5%, ranging from 5.5% for a 2-bedroom unit to 7.5% for a 4-bedroom unit.
The benefits of living in Al Hamra Village for different types of residents are as follows:
- Couples: Al Hamra Village offers a romantic and relaxing lifestyle for couples, with access to the beach, the marina, the golf course, and the resorts, as well as a variety of dining and entertainment options.
- Families with children: Al Hamra Village offers a safe and secure environment for families with children, with access to the schools, the mall, the hospital, and the playgrounds, as well as a diverse and friendly community.
- Young professionals: Al Hamra Village offers a dynamic and convenient lifestyle for young professionals, with access to the business tower, the airport, the freehold ownership, and the tax-free environment, as well as a range of leisure and recreational options.
- Retirees: Al Hamra Village offers a peaceful and comfortable lifestyle for retirees, with access to the health care facilities, the spa, the fitness center, and the private beach, as well as a range of cultural and social activities.
Want to Buy Real Estate in Ras Al Khaimah? Write a Request in WhatsApp and Real Estate Group Will Find the Best Options for You. Everyone Buys With Us!
As you can see, Al Hamra Village is a premier destination for living and investing in Ras Al Khaimah, as it offers a range of world-class facilities and amenities, attractive prices and returns, and a diverse and vibrant community.
Whether you are looking for a romantic getaway, a family-friendly home, a dynamic workplace, or a peaceful retirement, Al Hamra Village has something for everyone. If you are interested in buying a property in Al Hamra Village, feel free to contact us today on WhatsApp and Real Estate Group will help you find the best property that suits your needs and goals. Don’t miss this opportunity to own a piece of paradise in Ras Al Khaimah.
