Apartment in Ras Al Khaimah with residence permit
Apartments for sale in Ras Al Khaimah, UAE, are an attractive real estate type both for investors seeking high profits and for ordinary buyers planning to move to the emirate or spend their holidays here.
The emirate’s government allowed foreign investment in local properties right after implementing similar rules in Dubai. The best freehold zones in which foreign buyers are allowed to own apartments and flats for sale in Ras Al Khaimah indefinitely include:
- Al Hamra Village. The area is located along the coast. It offers premium and elite flats in Ras Al Khaimah with easy access to the beach, landscaped recreation areas, shopping malls, 5-star hotels and golf and yacht clubs. The developed infrastructure, including supermarkets, mosques and a medical clinic, attracts families with children.
- Al Marjan Island. The large artificial archipelago of 2.7 km2 consists of 4 small islands. It offers easy access to the highway connecting all 7 emirates. The area is being built up, but you can find here ready-to-move apartments in Ras Al Khaimah for investment, coastal boulevards, playgrounds, lush green spaces and amenities necessary for life, such as supermarkets.
- Mina Al Arab. The coastal district with a quiet and peaceful atmosphere is surrounded by green spaces. Due to the numerous species of sea creatures that live here, the beach, a wide selection of shops and restaurants, and flats for sale in Ras Al Khaimah are in high demand among tourists.
- Dafan Al Nakheel. The community is located in the city centre, so an apartment for sale in Ras Al Khaimah attracts both buyers and tenants. Its infrastructure includes shopping malls, supermarkets, banks, hospitals, golf courses, schools and entertainment venues. There are public beaches a few minutes' drive from the area.
Residence permit in the UAE by buying an apartment in Ras Al Khaimah
The Emirati government is committed to attracting investors from other countries, so foreigners can issue a residence permit in the UAE by buying an apartment in Ras Al Khaimah. The lowest apartment price in Ras Al Khaimah under the immigration programme is AED 750,000 ($205,000). By choosing an overseas property worth up to AED 2 million ($545,000), the applicant will be able to obtain a 2-year resident status. If the cost of apartments in Ras Al Khaimah exceeds this threshold, the validity period of the residence permit will be 10 years.
An investor can receive a residence card for their spouse, daughters of any age and sons under 25 who are not married. The main and dependent applicants are allowed to extend the validity period of the document an unlimited number of times as long as they own their overseas property in the UAE.
Investment in apartments in Ras Al Khaimah
An investment apartment in Ras Al Khaimah is more popular for investment than houses. This is due to two key factors, the first of which is the price. The cost of studios, apartments and penthouses is lower than townhouses and villas, so they are so appealing. The second reason is the wide range of this type of real estate. The Emirate market offers a larger selection of apartments.
The average return on investment in local housing varies between 7–9%. To maximize profits, investors should take into account the location of the facility and the rental strategy. An apartment in Ras Al Khaimah with a residency permit offering easy access to beaches, popular attractions and infrastructure are in high demand, so their owners get a high return on investment.
As for the rental strategy, the most profitable option is a short-term lease. However, it requires more involvement from the investor than a long-term one. Some tenants sign a contract with a management company to delegate the responsibility of finding and placing tenants, cleaning the property, upkeep and other tasks to experts.
While demand is growing, the rental rate in the emirate is rising rapidly. The rental value of local properties increased in 2023 by an average of 10.5% year-on-year. The most sought-after properties are 1-bedroom flats and elite penthouses in residential complexes with developed infrastructure.
Prices in the emirate are rising as well. Real estate has risen in price by 20–25% from January to August this year. According to experts, the upward trend will go on, so many investors decide to buy a flat in Ras Al Khaimah to profit from resale.