UAE: Why Are Property Buyers Turning to Ras Al Khaimah?

Ras Al Khaimah (RAK) is rapidly becoming one of the UAE’s most appealing destinations for homebuyers, with mortgage activity skyrocketing by over 22,000% in just seven years.

Data from the Ras Al Khaimah Statistics Centre reveals that mortgage values surged from AED 15.8 million in 2017 to AED 3.47 billion by mid-2024.

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This dramatic increase reflects a significant shift in the market, with more long-term residents and first-time buyers opting to invest in RAK properties.

According to Andrei Charapenak, CEO of Major Developers, the trend signifies a move away from speculative investments toward genuine long-term commitments. “People are buying to live here,” he notes.

Affordable Living and Accessibility

One of the key attractions of RAK is its affordability compared to Dubai and Abu Dhabi. Property prices remain accessible, yet residents enjoy stunning beach access, mountain views, and improving infrastructure.

For those weary of rising rents or seeking a quieter, family-oriented lifestyle, RAK presents a compelling option.

Enhanced mortgage accessibility is also a driving factor. Banks are now offering favorable terms, quicker approvals, and competitive rates, particularly for residents with stable incomes and long-term residency.

Changing Buyer Demographics

Today’s buyers are primarily end-users—professionals, families, and long-term residents—rather than the high-turnover investors of previous years. Many are looking for properties that serve as primary homes, retirement plans, or holiday escapes.

In response, RAK’s new developments focus on creating practical, well-designed communities that prioritize livability, quality, and sustainability over sheer luxury.

A Comprehensive Living Experience

With ongoing investments in schools, healthcare, hospitality, and transportation, Ras Al Khaimah is positioning itself as more than just a weekend getaway. The emirate is evolving into a viable and attractive full-time living option.

For UAE residents contemplating a grounded, future-oriented lifestyle, Ras Al Khaimah is emerging as one of the most appealing and accessible choices on the real estate landscape.

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