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Qatar property market boosted by buoyant economy

Monday 14th May 2012

A new report by DTZ showsthat Qatar’s strong economy, fuelled by high energy prices, government’s investments as well as preparation for the 2012 FIFA football world cup, is helping to drive Qatar property activity upwards.

DTZ, one of the top global real estate services firms, predicts a positive outlook across all property sectors in Qatar thanks to higher demand.

The residential market

The report said that demand for homes in Qatar is being supported by the country’s growing population, thanks in part to recruitment of personnel from outside of Qatar by new and expanding businesses.

The housing supply pipeline is being dominated by luxury apartments. Total stock of luxury apartments was 8,500 at the end of 2010, increasing to 9,750 at the end of 2011 and DTZ forecasts this figure will reach 16,250 by the end of 2012. This equates to a 66% rise in the total stock of luxury apartments.

The greatest supply of apartments is focused around the Diplomatic District and on The Pearl where occupation rates are, on average, 95%.

Average rental rates achieved on The Pearl at the end of Q1 2012 for a three bedroom apartment were QR17,000, QR13,500 for a two bedroom apartment and QR11,000 for a one bedroom apartment.

Residential sales at The Pearl continue to dominate the freehold market as it is now an established and successful residential location, the report said.

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Editorial Contact Details - Conor Shilling
0845 672 6000
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