Saturday, Apr 20, 2013
Investor interest in prime holiday homes in Ras Al Khaimah (RAK) has increased recently.
According to Benoy Kurien, general manager of Al Hamra Group, foreign and local investors are seeking to buy in RAK, where properties are quite cheaper compared to Dubai.
Investors can own a studio apartment with full sea view in the emirate for only Dh300,000. More pricey options, such as a luxury beachside five-bedroom villa, can cost up to Dh5 million.
“In recent years, we have seen a significant rise in demand for holiday homes particularly from within the UAE, followed closely by GCC countries,” Kurien told Gulf News.
Al Hamra Real Estate and Development’s flagship master-planned community in RAK, Al Hamra Village, is drawing interest from eager buyers, particularly those looking for quality homes in a family-friendly environment.
However, real estate values in the emirate have also increased. Prices for apartments at Al Hamra Village have gone up by 12 per cent to 14 per cent since last year, while villas and townhouses have increased by 30 to 40 per cent.
BY Cleofe Maceda Senior Reporter
Gulf News 2013. All rights reserved.
