Emerging trends will positively influence Qatar’s real estate market in 2022. If you are considering making an investment in Qatar’s housing market as a local or non-Qatari investor, you’ll want to discover them in this article.
Let’s explore the market!
Development of trends in real estate technology
The rise of prop-tech is immanent in Qatar’s technologically advanced economy. Qatar’s real estate market is at the forefront of this technological progress. Real estate developers have fully immersed themselves in VR property viewing and hybrid work amid the pandemic.
Looking forward, local property developers aim to create innovative property architecture and develop apps for homeowners and tenants. Also, the transformation of the real estate data landscape. Ultimately, to drive greater efficiency in the real estate sector.
Diversification of the economy through other digital transformations, such as the integration of futuristic internet services and state of the art sports medicine facilities, is also well underway.
Qatar's real estate market has stood firm in the face of the global pandemic and falling oil prices. To adapt, Qatar has adopted several government incentives, including the expansion of the rules on non-Qatari property ownership.
The 2018 law grants residence permits to foreign investors and their families after the purchase of real estate worth more than 729,999 QR in any of the 16 permitted areas in and around Doha.
All eyes are on Doha’s FIFA World Cup 2022
The spectacular sporting event, which takes place between 21 November and 18 December, is expected to create up to 1.5 million new jobs in construction, hospitality and real estate. In addition to solidifying Qatar's reputation as a global sporting destination.
There have already been positive effects since the 2010 FIFA winning bid, with Qatar's GDP growing steadily at 4.5%. The massive investment of $200 billion in infrastructure and eight new stadiums has boosted business and real estate investment, which is expected to increase in 2022 and beyond.
Real estate buyers can now look to secure properties rented to tourists during the world cup and then to new expat workers as a viable investment.
After the popular sporting event, the Qatari government is expected to largely expand gear from infrastructure development to include revitalisation of tourism. The advanced infrastructure, including a brand new railway and airport, and the sustainable city of Lusail, will attract tourists in the coming years. This will improve the local tourism and hospitality industries.
The outlook on Qatar’s real estate market
Due to Qatar's constant digital transformation and mega-infrastructural and cultural projects, real estate prices are likely to rise alongside a growing population. In addition, Qatar's economy is expected to grow by 4.8% by the end of this year and 4.9% in 2023.
As a result, new real estate buyers can enter the market with the assurance that the resilience and diversification of the economy are only expected to strengthen to benefit real estate investments.
How best to start investing in Qatar's real estate?
When investing in new property, perhaps in an area you are unfamiliar with, you need honest advice from those experienced in this sector. Not only that but also the choice of the best property to meet the needs of yourself or your tenants.
Explore a wide range of on and off-market properties in Doha, Qatar, with our team of real estate experts. We can't wait to help you enter a brighter investment future.
Contact us today at +974 4464 2525.
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