Cost of Living in Ras Al Khaimah (RAK)

The sheer magnitude of the real estate markets of various cities across the UAE is astounding and personifies the appeal of the nation worldwide. While the dynamics of the real estate potentials of popular cities such as Dubai, Abu Dhabi, and Sharjah are pretty well-known globally, one city that has been gaining momentum is that of Ras Al Khaimah. Anticipating its popularity in the near future, we are here to discuss the cost of living in Ras Al Khaimah.

Whether you are planning to move to Ras Al Khaimah for work purposes and a temporary residence or are thinking of moving permanently, you need to map out the expenses you need to bear while living in the Emirate. This monetary guide will help you manage your finances better and you will be able the smartly track your expenditures.

We are going to look at the key fields of expenses including housing, groceries, food, utilities, transportation, education, healthcare, and entertainment, among others. In the process, we will give you a holistic view of the expenses for continuing a lifestyle in the city and also a few tips that you can follow to cut down your expenses.

About Ras Al Khaimah

Factually speaking, Ras Al Khaimah is the newest emirate to join the UAE, joining the federation on July 10th, 1972, merely months after the six other emirates came together as a union. It is the fourth-largest emirate in the country, covering an area of 1,684 sq. km., which is equivalent to 3.16% of the total area of the country.

In the past several years, Ras Al Khaimah has witnessed exponential growth and economic diversification. With the development of a wide range of industries and the establishment of free zones, it has garnered the attention of national as well as foreign investors.

The city has a booming tourism industry resulting from its scenic beauty and historical significance. The mangroves, mountains, coastal strips, sand dunes, and salt flats provide an amalgamation of a beautiful and wholesome landscape.

Types of Expenses to Bear While Living in Ras Al Khaimah

As we provide a number for the expenses in each category, please keep in mind the fact that these numbers are mere estimations or assumed averages to give you a picture of the reality. Your lifestyle will play a heavy role in dictating the ultimate expense chart that you need to care of.

Remember, if you are moving from another country, the family visa cost in Ras Al Khaimah can range anywhere from AED 3,000 -7,000. With the UAE Golden Visa, UAE Blue Visa, and UAE Green Visa, moving into Ras Al Khaimah is a seamless process. Now, once you decide to move in, you need to tackle the following monthly expenses.

Housing

The biggest chunk of expenses every month will go into your rent payments. The eclectic range of residential properties by Ras Al Khaimah developers leaves you with a load of buying and renting options. From luxurious studios to cozy apartments, from lavish villas to mesmerizing townhouses, it offers everything and more for living the ultimate urban and modern life.

Additionally, the location you pick also will influence the prices. Areas like Mina Al Arab and Al Hamra Village are comparatively costlier than their more affordable counterparts such as Dafan Al Khor and Al Dhait. On the other hand, Al Marjan Island provides a nice mix of high-end and economical investment options. For the most part, rent in Ras Al Khaimah is lower than that of most other emirates in the UAE.

While studio apartments can fetch a monthly rent of around AED 2,000-5,000, a one-bedroom apartment can have a monthly rental price of AED 3,000-6,000. The same for villas can be around AED 10,000-17,500. Shared accommodation is a cheaper option that you can go for as well. Please note that you also have to bear the AED 25 cost for registering the tenancy contract online along with 5% of the lease contract amount.

Grocery and Food

The next most prominent expense will concern your grocery and food. The city has plenty of shopping malls wherein you can find localized as well as global food ingredients, catering to a diverse range of population. Buying imported food items and expensive stuff will obviously raise your expenses.

Everyday dining options are also plenty throughout the city and offer a global menu, giving you a wide range of choices. However, cooking at home is the recommended way to go to cut down your expenses.

Lulu and Carrefour supermarkets are affordable choices to pick out your monthly groceries. Buying from affordable supermarkets will significantly lower your average cost of living in Ras Al Khaimah. For two people, the average monthly grocery expenses can be from AED 1,000 – 3,000.

Utilities

A portion of your monthly expenses in Ras Al Khaimah will also be spent on various utilities. This means you need to have an allotted portion of money for these expenses every month regardless of your other expenditures. For most of the year, the climate of Ras Al Khaimah remains hot, which means, it can spike your electricity bills.

Understanding your monthly utility bills will enable you to manage your budget smartly, and help figure out ways to cut living costs in Ras Al Khaimah. Please note that during the summer, your electricity bills will be higher.

The larger the residential unit is, the more expenses you have to bear for air conditioning. Water and internet bills will vary from person to person on usage. This is why being mindful of your consumption is important since it will be reflected in your cost of living in Ras Al Khaimah.

Transportation

Whether you have a private vehicle or are dependent on public transit, you need to allot a pre-defined amount of money for your RAK monthly expenses on transportation. Although the price of the fuel is lower in the UAE than most other places in the world, the model of your car and how frequently and how far you travel every day will dictate the transportation cost.

Taxis and buses are common commuting options that are mostly on the affordable side of things. For car owners, there are additional financial burdens other than fuel, which include maintenance and insurance. Ride-sharing services offer immense convenience across the city. The buses cover most parts of the city and are a great mode of transportation to travel from one part to another.

Healthcare

The healthcare facilities in Ras Al Khaimah are pretty amazing which is why it has become a preferred place for rich families. From public hospitals to private clinics to even specialized medical centers, you will find many options throughout the city.

With modern technology and resourceful professionals with the highest skills, the medical facilities in Ras Al Khaimah are pretty admirable. If you have health insurance, it will further make it easy for you to bear the expenses.

Health insurance can range from AED 700 for basic coverage to AED 10,000 for premium packages. The type of treatment you receive and your health conditions will further dictate your healthcare expenses.

Education

Ras Al Khaimah school fees will heavily depend on the type of education you are opting for your children. There is a diverse range of educational institutions in the city, modeled after both local and international education curricula.

Private schools tend to be thrice as expensive as their public counterparts. International schools are even costlier. You will find American, British, Indian, Pakistani, as well as Emirati schools all across the city.

The tuition fees will vary depending on the institution and program you choose. But, from a large perspective, the education cost in Ras Al Khaimah is lower than other Emirates.

Entertainment and Leisure

Life in Ras Al Khaimah can be glamorous, thanks to the quick accessibility to a plethora of entertainment zones. You can rest assured that your weekends will be dynamic and you will never have a dull moment if you are looking for a rush of adrenaline or other allied fun outdoorsy activities.

From the Jais sky tour to the longest zip lining in the world, from hot air balloons to Jais Sledder rides, from explorer’s camp to the equestrian center, the city has so much to offer to its tourists and residents. The cinema halls, aviation clubs, speedboats and water adventures, museums, and the various archaeological sites and beaches leave no stone unturned to take care of your entertainment quotient.

This shouldn’t come as a surprise because Ras Al Khaimah has gained popularity owing to its tourism potential. The vibrant nightlife of the city paves the way for tons of recreational activities. From high-end options to affordable choices, there are various avenues for entertainment and leisure throughout the city.

Tips for Managing Costs of Living

The average cost of living in RAK for a couple, family, or single person is much lower than the other parts of the nation. But, to be more resourceful and financially sound, you need to incorporate certain changes in your finances that will help in lowering the cost of living in Ras Al Khaimah. With the following points, we hope you can manage your finances healthily.

Housing

Compare rental options in different locations. If possible, especially for single individuals, opt for shared accommodation. Negotiate rental prices with landlords.

Groceries and Food

Have a weekly or monthly meal plan approach. Keep yourself aware of supermarket promotions. Rely on cooking at home more than dining out.

Utilities

Try and use energy-efficient appliances and keep a watch on your water usage. Opt for bundled TV, internet, and mobile packages, and turn off your AC when you are not using it.

Transportation

Rely on public transportation as much as possible for commuting. Use a carpool to reduce fuel costs. Maintain your vehicle regularly to avoid repair costs. Compare prices at different petrol stations.

Healthcare

Try and get comprehensive healthcare insurance. Also, use the in-network healthcare providers. Prevention is better than cure. As such, pay regular visits to your doctors for better preventive care. And adopt wellness programs in your life.

Education

Before enrolling in a school, college, or university, research and compare prices in multiple avenues. Try and apply for scholarship programs and financial aid. Look out for institutions that offer flexible payment plans.

Entertainment and Leisure

Always look out for promotions and discounts and try and explore outdoor activities on beaches and parks. Weekday outings will save you significant money.

To Conclude

Ras Al Khaimah is touted to become the face of the UAE and will soon become one of the most recognizable cities in the Middle East in the near future. The immense potential of the emirate generated from its tourism sector has led to the growth of the real estate market.

More and more global brands have noticed the possibilities of development in the city, especially in terms of retail and chains of hotels and resorts. As you can see, the cost of living in Ras Al Khaimah is much more manageable than the living expenses in Abu Dhabi, Dubai, and Sharjah. This is especially true when you plan your finances in advance.

FAQs

Questions about the Cost of Living in Ras Al Khaimah

What is a good salary in Ras Al Khaimah?

The average salary in Ras Al Khaimah is around AED 10,000 monthly although it is subject to frequent changes. But when comes to a good salary that will allow you to live comfortably in the city and have a decent experience, having a monthly earning of more than AED 15,000 is ideal.

What is the average rent in Ras Al Khaimah?

The rent amount will depend on the type of residential unit you are living in. For instance, a small studio apartment will have a much more affordable rental amount than its villa counterparts. That being said, studio apartments can have a monthly rent of approximately AED 2,000-5,000. A one-bedroom apartment, on the other hand, can fetch a monthly rental price of AED 3,000-6,000. The rent for villas in Ras Al Khaimah can be around AED 10,000-17,500.

Is Ras Al Khaimah cheaper than Dubai?

The cost of living in Ras Al Khaimah is much cheaper than the cost of living in Dubai. This is because Dubai is recognized as a global city and has witnessed a successful and stable real estate market for decades now. Ras Al Khaimah is a newly developed city that is slowly getting the recognition it deserves from the world. As such, the housing, education, and healthcare facilities, are much more economical in it than other Emirates like Dubai.

What are the most popular areas to rent in Ras Al Khaimah?

Some of the most popular areas for renting in Ras Al Khaimah are Mina Al Arab, Al Hamra Village, Dafan Al Khor, and Al Dhait, among others. All these areas offer a wide range of properties built by top-notch property developers. The demand for off-plan properties is pretty high in these areas due to the scenic beauty, availability of amenities, and quick accessibility to major hubs around the city.

Is it good to work in Ras Al Khaimah?

Yes, Ras Al Khaimah provides a great location for employment. Its economy is booming thanks to the development of a wide range of industries in the area. Prominent among these industries are tourism, real estate, manufacturing, services, logistics, and hospitality. It generates huge employment, which, in turn, is encouraging an influx of settlement into the city.

How much are utility bills in Ras Al Khaimah?

While the electricity will cost you around AED 300-900 monthly, your water bills can be expected to be around AED 150-500. You have to spend AED 75-200 on cooking gas, AED 200-450 on the internet, and around AED 125-500 on mobile packs. Of course, the amount changes upon your consumption.

How much does transportation cost in Ras Al Khaimah?

Transportation is pretty affordable in Ras Al Khaimah and more and more initiatives are taken by the government to improve public transit. If you have a personal vehicle, you have to spend around AED 1,500-3,000 monthly.  Along with fuel, you have to pay for maintenance and insurance. For public transportation, keeping aside AED 100-200 for buses and AED 500-1,000 for taxis is apt.

Is Ras Al Khaimah safe for expats?

Yes, Ras Al Khaimah is completely safe for expats. In fact, the myriad of opportunities that the emirate provides makes it one of the sought-after locations for expats to buy properties in. From the strict Government policies to safeguard the interests of the buyers to the plenty of healthcare and educational opportunities available, Ras Al Khaimah is considered a safe haven.

Who can purchase property in Ras al Khaimah?

Anyone can buy property in Ras Al Khaimah. However, UAE citizens and GCC (Gulf Cooperation Council) citizens have more freedom than foreign nationals. While UAE and GCC citizens can buy properties anywhere in Ras Al Khaimah, foreign nationals can only purchase properties in designated areas that are reserved for foreign ownership.