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Al Hamra Village - Ras Al Khaimah

Al Hamra Village - Ras Al Khaimah

Old Mar 10th 2014, 11:17 am
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Hi All

I just wanted some information and peoples thought on Al Hamra Village in Ras Al Khaimah, I have been looking into the complex itself and still can’t decide if I should invest in a studio apartment.

The cheapest studio apartment I have seen is for around £48k, if giving an offer what is something reasonable?

How easy is it to rent a studio apartment out?

I know the price for a studio has not increased over the last few years, do you guys think there is a chance say in the next 5-10 years the prices will increase?

How much roughly is maintenance cost for a studio apartment?

Any other info and people who own an apartment will positive/ negative feedback is appreciated.

Regards
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Old Mar 10th 2014, 12:20 pm
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Default Re: Al Hamra Village - Ras Al Khaimah

Welcome to BE, I don't know about monthly expenses etc but my friend has one of these studios, I think it is brilliant. I love the whole development, the swimming pool is huge and there is a yacht club all within walking distance of hers.
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Old Mar 15th 2014, 9:48 am
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Default Re: Al Hamra Village - Ras Al Khaimah

I went there a few weeks ago and absolutely loved the place. Nice laid back easy approach to life there which I liked. I specifically went to a few property people too look at some flats and heres my 2 cents : If you have an extra 48K lying about gathering dust and you dont plan on touching them for the next 10 years then sure go for it, because I dont see the value rising too much, however I DO see it coming back down near 2020. If you rent it out then whatever you get from it would be a bonus. Me being the idiot that I am did not however inquire about the yearly maintenance cost though. But it would have to be atleast atleast 5000 aed per year I reckon.
But if you want to rent it out, then you have to factor in the wear and tear into it as well.
If you want to buy it and then not rent it out and just use it for your own once a month foray to RAK, then go for it, good idea in my opinion.
But investment wise, I still think Disco gardens is giving the best returns.
72K per anum on a short term leased fully furnished for a studio is good money in my books, but the investment is higher as well ofcourse
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Old Mar 21st 2014, 6:52 pm
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Default Re: Al Hamra Village - Ras Al Khaimah

A big issue on the developments in the northern emirates is power... They do a lot of local diesel generation on these developments as there is no power or access to grid power. Diesel generation is 5x higher than gas.... You electric bill isn't cheap.
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