Qatar Real Estate News
Qatar residential sector to see rental increase in 2010
The residential rates in Qatar are likely to increase towards the year 2010, with the two-year rent freeze coming to an end, coupled with the supply of new apartments, reveals a recent study by Global Investment House.
The Real Estate Sales and Marketing Consultancy, LifeStyle Homes and Properties (LSH) has expressed its optimism about the constant growth of property market in the country, and added that the completion of new residential apartments in and around Doha is sufficient proof to the strength of local real estate market.
With the developers getting more time-conscious, and focusing more on high-quality value-added projects, and with the banks managing the risks associated with over exposure to real estate sector, there are more number of genuine buyers in the Qatari market, who are steadily surpassing the speculative investors.
Moreover, the Qatar government’s effort to create a transparent, well-regulated and fundamentally sound market has also brought in good opportunities for investors in the long-term. Hence there is a great demand for reliable property services to help customers make the best investment decision.
The Sales and Marketing Director, LSH, Arron Browne, said that despite the challenges posted by the global economic turmoil, the real estate market in Qatar continues to remain vibrant. LSH aims to offer rental consultancy and specialized services to cater to the property requirements of the end-users.
Monitoring the market, and providing tactical market valuation and advice to clients, is a part of the company’s strategy, for which maximum resources of the company are utilized. The company will also determine the risks and benefits associated with potential investments of its clients, Browne explained.
Although due to initial panic created by the economic crisis, there were several sales of distress properties, the value of high-quality projects in Qatar will continue to remain high, when compared to the rest of the GCC countries. Also, once the hand-over of apartments at The Pearl Qatar kick-starts, it would be a driving factor behind increase in rental rates, which will, in-turn, lead to a healthier market and better customer confidence, Browne pointed out.
Posted on 30/6/2009
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