Qatar Real Estate News
Qatar property sector ranked as most promising market to invest
Qatar has strengthened its position as one of the leading property markets for investors, as the growth in the sector is likely to continue further, supported by its strong economy.
This week, Qatar has been ranked second in the fourth annual ranking by Bloomberg Market, as one of the most promising emerging markets to invest in. The ranking takes into account various measures including investment environment, economic growth forecasts and ease of doing business.
The Ministry of Development Planning and Statistics has predicted that the economy of the country will grow 7.7 percent this year, and has the fastest growth since 2011. The recent dip in oil prices is hardly likely to have impact on finances in Qatar, as the country continues to diversify its economy from being a traditional oil and gas exporter.
The recent economic success of Qatar has been largely driven by huge growth in service and construction sectors. During the third quarter of last year, the construction sector grew 18.5 percent annually although, the financial, real estate and business service sectors saw high growth of 13.7 percent year-on-year.
The growth in real estate sector has been supported by quick population growth, which is increasing demand for housing.
Speaking about the property market in Qatar, the Co-Founder of Lamudi, the global property portal operating across 32 emerging markets, said that Qatar’s vibrant property sector has been attractive to investors, and there is strong demand for housing, with increase in property prices and there is the added ease of purchase of properties for foreigners.
Further, as the country is all set to host the FIFA World Cup in 2022, the real estate market will only go from strength to strength, and the year 2015 is said to be the best time to invest in Qatar real estate market.
Increased growth in population, which high an all-time high of 7.48 percent year-on-year in 2014, has pushed up demand for housing. Moreover, the strength of real estate market has been boosted by heavy investment in infrastructure and property development. Among the major infrastructure projects are the new metro in Doha and real estate developments like Lusail City and Msheireb.
Posted on 18/2/2015
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