The Northern Emirates recorded steady growth in rental prices in 2024, with apartment and villa rents rising 4-8% in Ras Al Khaimah, Sharjah, and Ajman, before stabilizing at 3% in 2H 2024, according to Asteco’s 4Q 2024 report (pdf). This was supported by some 20k new units launched across the Northern Emirates during the year, as well as increased demand from tenants relocating from Dubai, drawn by affordability, upgraded infrastructure, and improved lifestyle offerings.

Transaction values were on the rise, particularly in Ras Al Khaimah, which saw a 78% surge in 4Q transaction values, followed by Sharjah (48%) and Ajman (21%).

REMEMBER- Ras Al Khaimah is working on attracting more tourists, with a strong pipeline of projects led by the USD 4 bn Wynn Al Marjan Island resort, set to open in early 2027. The project has sparked a construction boom in the emirate, transforming the once-quiet area into a bustling development hub.

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