Latest Qatar News
Soaring rents compel Doha expats to consider leasehold apartments
Unable to manage the soaring rents, several expatriates in Doha have signed up to buy leasehold apartments. Many such properties are available in Doha, as the work on the several leasehold apartments are nearing completion.
A 141Sq mts two bedroom apartment in the Najma area, for instance, is available at QR1,68,000, while apartments with 145 Sq mts are prices at QR1,218,000 and a 153 Sq m apartment at QR1,257,000.
An official developer, who spoke to The Gulf Times, mentioned that these prices are for the 5th floor of a seven storey building in Najma area, as the lower floors have already been leased out.
The expatriates interested in buying such apartments are from India, France, Pakistan, Jordan and other communities. Apart from the purchase price, potential owners will have to make a one-time payment of QR4000 as registration fee (charged by the government) and other fees, apart from a monthly QR300 for maintenance (if it is entrusted to the developer). Also, in case the deal is successful, we will have to pay a commission of 2%. This is as per the government’s decision.
The Owners will be offered a 99-year leasehold contract, which is renewable for the same period of time. Once approved the owners will also be granted a ‘usufruct’ visa and residence permit by the authorities.
The permission for non-Qataris to lease or purchase any such property was granted following a Cabinet decision by HH Sheikh HAmad bin Khalifa Al-Thani in February 2006, and 18 areas has been designated for such purposes in Doha City.
The areas designated for leasing to expats are Musheireb, Doha Jadeed, Frij Abdul Aziz, Al Rifa Al Hitmi, Ghanem Al Qadeem, Al Salata, Rawdat Al Khail, Bin Mahmoud, Najma, Al Mansoura, Umm Ghuwailina, Al Sadd, New Mirqab, Dafna/Onaiza, Jebel Theilab, Al Kharaij, Lusail, The Pearl, and areas around Doha International Airport.
The Director of Doha Municipality, Ibrahim Al-Malki, has requested foreigners irrespective of whether they reside in Qatar or not, to take advantage of the unique opportunity for leasing or purchasing real estate in Qatar.
He also revealed that an office for registration of real estate for non-Qataris has been opened, and this office offers all information pertaining to the apartments or villas available for purchase for expatriates, apart from offering guidance about sponsorship conditions.
Social Bookmarking
Read more news
> First double-decker bus service to take-off in January 2009
> Qatar wins six prestigious awards for its satellite mapping system
> UPDA embarks on land survey to meet housing requirements of nationals
> Qatar National Bank to build tallest tower in Doha
> Qatari Flag flies high at Beijing Olympic Village
> Bahrain-Qatar Causeway will be complete by 2013
> Expats annoyed over rejection of visa applications for aged relatives
> Kahramaa distributes Smart Cards for better consumer care
> Public Sector citizens choose part time businesses to supplement income
> Qatar is the wealthiest country in Middle East