Ras Al Khaimah rises in popularity with property investors

RAK is fast developing as a melting pot for investors targeting suitable properties for short breaks or relaxing holidays.

Located just 45 minutes from Dubai airport with a wide range of projects in construction, including luxury projects such as La Hoya Bay and The Cove, RAK offers products to suit all budgets and with accommodation ranging from studio apartments to three bedroom townhouses, there is something for everyone.

The stunning scenery and beachfront locations, coupled with the away-from-it-all feel, in complete contrast to the hectic city life of Dubai, are all adding to the appeal with property investors. Commercially, the emirate has experienced a period of rapid growth in the last few years and with help from its proactive ruler, is destined to develop even further with massive investment from businesses across several industry sectors.

Mr Allan Sword who recently purchased in RAK through Better Homes explained what prompted his decision saying; "I was keen to secure a holiday-cum-investment property outside the hustle-bustle of Dubai," adding that "The marketing of the Cove project was excellent and Ras Al Khaimah's offering of a quieter existence with world-class leisure facilities, fantastic scenery and good infrastructure made the decision to buy there a simple one."

In response to the increasing demand and interest, Better Homes is currently sourcing a suitable location for its first office in Ras Al Khaimah, scheduled to open later in the year. Managing Director, Ryan Mahoney commented, "Ras Al Khaimah is a big area of opportunity. There are so many exciting developments in the area and with it being a relatively new market, prices are still very reasonable," adding that "Investors are seizing the chance to make a profit by buying in the early stages of the emirate's anticipated growth."

Better Homes is currently selling a wide range of developments in the area including; The Cove, La Hoya Bay, Julfar Towers and Mina al Arab. Several of these projects offer hotel apartments to cater for tourism making it a huge potential market for short-term rentals, providing owners with the opportunity to use companies like Better Homes to let the property during the times they don't want it for personal use, thus giving increased flexibility while maximising income returns.

"Short-term rentals will work really well in Ras Al Khaimah with holidaymakers. Buyers can expect to receive high returns on their investment by letting to tourists. Our short-term rentals service is tailored to the owners needs meaning they get to pick and choose when they want to use the property and we then look to rent out the rest of the time. It really is a perfect solution for anyone looking to invest in a place to escape to every so often,"

Mahoney added.