Qatar » Market Report

Rental rates in Qatar have become extremely expensive. The government is building a stable property market in Qatar due to which it has become a priority and to that end massive construction projects are underway. The land and property market in Qatar could grow as much as 50 per cent in the next year, representing opportunities for property investors. According to the changes made in property ownership rights in Qatar, foreign buyers can own title to certain properties in Qatar.

The other way, they can buy 99-year leases on others and even bequeath their properties to subsequent generations. This shows that the entire country is receiving huge levels of international interest, foreign investment and overall financial commitment. At the same time as developing a thriving property and construction market, the government is also diversifying into alternative business fields and promoting tourism in Qatar. All of these developments are having multiple positive effects such as the promotion of the nation among investors and developers and the general attraction of investment and also professional immigrants who are relocating to Qatar to work.

The cost of living in Qatar is comparable to Britain, however a large number of expatriates receive their salary tax free. There is high demand for properties in the Doha real estate market, including rental space in residential and commercial estates.Rents are at an all time high in Doha. A one bedroom apartment can range anywhere from $2,000 to $4,000 per month. Rents for high end properties are expected to remain high, while that for low to middle end properties could correct in course of time.

Considering the economic boom that the country is currently experiencing, and the huge inflow of expatriates, supply is extremely deficient in the residential sector at present.

This new surge in the real estate market could be attributed to the decree issued by Emir H H Sheikh Hamad bin Khalifa Al Thani that allows non-Qataris to own residential properties in some housing projects.

The Pearl in Qatar is one of the most impressive and important property developments in the entire region and it is one of the few developments to allow foreign nationals, expatriates and international investors the chance to buy in and own outright. The Pearl will be home to around 30,000 residents when completed in 2009, with the first residents taking possession of their iconic homes towards the end of 2006.

The number of families expected to shift to Qatar in the next 2-3 years is 200,000 families, while around 500,000 are expected to shift in by 2012.

According to the International Property Brokers forecast the property market for Qatar is hot. Pearl Qatar project has enhanced its image, drawing more tourists and as a result freehold property in Qatar will strengthen which will lead to an ever escalation of the property market.

Qatar’s GDP has been strong and it’s expected that economic growth will rise from an estimated 11.8% in 2008 to 13.4% in 2009, as new liquefied natural gas and petrochemicals projects come on stream.