Qatar Real Estate
Ever since oil was discovered in Qatar in the 1940s this formerly economically weak fishing & pearling region has gone from strength to strength economically and currently boasts an economy & standard of living at par with most of the contemporary nations.
Positioned in the Arabian Peninsular and bordering Saudi Arabia to the South, the Emirate is otherwise bounded by the Persian Gulf and is self-governing and has been so since the early 1970’s. It does not form part of the United Arab Emirates and has not become part of Saudi Arabia.
Qatar is the hottest buzz word in up-and-coming property markets and savoir-faire investors are looking UP to the region to offer has been affording the world in recent years more of the incredible opportunities Dubai. Global confidence in Dubai Market has strengthened the fledgling investment property market in Qatar, resulting in the property market boom in Qatar.
The Pearl Qatar is one of the most remarkable and imposing developments. This man made island development is estimated to cost around $2.5 billion and is by far the largest property development being undertaken in Qatar. The second phase of the development was released in March 2005 to much anticipation. The Pearl Project post completion will form a 4-million sqm island home to around 30,000 people in an array of luxury and stunningly designed villas, town houses and apartments.
The Pearl will also feature hotels, restaurants, shops and boutiques as well as a 700 berth international yachting hub and the first homes are due for completion in 2007.
The consequence of this development should not be ignored, it will lift the profile of the Emirate, significantly improve and boost tourism numbers, the appeal of this location will become known globally and as a result the aspiration for freehold property in Qatar will strengthen which will lead to an ever escalation of the property market.
Looking to the Middle East region for the latest property hotspots or interested in diversifying your investment portfolio? If yes then it may well be time to consider the up-and-coming property market in Qatar.
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Qatar Real Estate News
According to Qatar Central Bank (QCB) report on the Real Estate Price Index (REPI), the average prices for land, commercial and residential properties in June 2014 are 20 percent above their September 2008 peak.
The real estate sector in Qatar has seen a good recovery, despite the summer setback as transactions jumped four-fold during second of the month, reports Ezdan Real Estate Company.
Qatar leads real estate growth among the six GCC States, with a combined transaction value of QR6.
With the land values and construction costs growing steadily in the country, the rentals in Qatar are likely to grow at an average of 10 percent until the year 2022, said a recent report.
Real estate sector in Qatar has recorded 30 percent growth last month in terms of number of transactions, despite the slowdown in summer season.
An increased demand for small plots of land across the country for housing purposes have begun in Doha and its near and far-off suburbs.
Rentals across Qatar office sector witnessed high rates during the first quarter 2014.
The office sector in Qatar, which is all set to be out of the recessions cycle, would remain stable with the additional supply likely to come into the market by second quarter 2015, revealed the Al Asmakh Real Estate Development Company (Aredc).
A subsidiary of Qatar Foundation, Msheireb Properties, will participate at Cityscape Qatar 2014 to showcase its Msheireb Downtown Doha project.
Leading real estate giant, Ezdan Holding Group, with an aim to diversify its investment portfolio, has announced sale of five residential villages comprising 2,660 homes during the Cityscape 2014 which is currently under progress at the Qatar National Convention Centre.
The Ministry of Municipality and Urban Planning has confirmed that partitioning of residential units of any kind is considered as an open violation of the Buildings Organization Law No 4 of 1985.
With a significant growth in prices of land plots over the past years there has been a decrease in potential investors in the hospitality sector.
Al Furjan project, which involves opening of small shopping centres in remote areas of the country, aimed at helping residents in remote areas, has been unveiled yesterday in Qatar.
The real estate market in Doha has grown considerably each quarter marking 29 percent growth in transaction numbers, as total sale value increases 35 percent, reveals a recent report.
The property market in Doha witnessed huge recovery during the period 23rd March to 27th March, with total value of transactions during the week having jumped by 270 percent, touching QR1.
Qatar will re-schedule nearly 15 percent of its planned building projects over the coming years, and move on to complete preparations for the 2022 World Cup soccer tournament.
Rabban Hospitality has announced commencement of work on its new 46 storey executive high-rise tower in Doha West Bay, with delivery of the tower likely in third quarter of 2015.
Qatar property sector is witnessing unprecedented growth, due to mega infrastructure projects being awarded.
Qatar is working on 250 major projects, worth more than $25bn, which is aimed to stimulate the real estate sector, and the economy of Qatar.
Real estate prices in Qatar are likely to shoot up by 20 to 25 percent this year, although a proportionate increase in rentals is unlikely, say real estate experts.