Ras Al Khaimah's real estate market is booming, with property prices skyrocketing due to the upcoming Wynn Al Marjan Resort, set to open in 2027. Experts say now is the perfect time for investors to capitalize on the growing demand.

Key Highlights:

• Property prices in RAK surged by 50% in 2023, with a further 10-15% rise expected in 2024.

• The Wynn Al Marjan Resort is driving demand for both luxury villas and rental properties.

• Al Marjan Island, Mina Al Arab, and Al Hamra Village are the hottest spots for investment.

"The announcement of Wynn has significantly boosted demand. We expect prices to rise another 50% once the resort opens," said Maxim Novikov, head of the RAK branch at Metropolitan Premium Properties.

The RAK market is attracting global attention, especially from investors in the US, UK, Europe, and Southeast Asia. Studios and one-bedroom units are in high demand, offering lucrative short-term rental opportunities.

Despite challenges like high upfront payments and limited infrastructure, the outlook for RAK real estate remains positive, with the Wynn Resort set to transform the local economy.

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