Can expats and non-residents invest in real estate in Qatar? Absolutely. The Qatari government made a significant change in their policies in the year 2020, intending to push foreign investment by opening up key areas in the country and allowing foreign property ownership in Qatar.
The change in regulations has brought significant growth in real estate investment and has provided new channels for foreign individuals and companies to own properties in Qatar. The Qatar Freehold Property ownership is not limited to a certain period.
The changes in the foreign property ownership rules have made an impact on the surge in property sales and rising estate prices. A report from Core Savills, a leading estate agency, stated that a huge shift was marked in the residential and hospitality estate markets, in Qatar, with an increase of 3.3% in the prices of properties.
We have compiled all the information you would require to buy property in Qatar as a foreigner, following the rules set down by the government.
Freehold Property
Earlier, buying property in Qatar as a foreigner involved lengthy processes of getting permits and approvals with complex paperwork from the government. However, with the changes in Qatar property ownership laws, now it is no longer required to obtain prior approval from government officials to buy property as foreigners in Qatar.
The owners of freehold properties in Qatar and their beneficiaries will be entitled to:
Absolute Rights for disposing of the property
Mortgaging the property
Renting it out
Sale of the property
Revamp or renovation
Ownership not for a limited period
Leasehold Property
This kind of property is for a limited period, usually for a maximum of 99 years, and can be renewed again in accordance with the contract signed and understanding between the two parties. The leasehold properties are transferred through inheritance.
Residency Rights
Qatar is one of the wealthiest countries in the Middle East, and it offers huge investment opportunities to property investors and expats living in the country. A surge in property investments by foreign investors can be seen owing to the residency rights granted to any investor who buys a property in Qatar worth at least $ USD 1,000,000. This policy attracts not only high investment opportunities for the country but also encourages high-net-worth companies and individuals to relocate to Qatar.
The Residency rights come with several perks granted to the owner of the property. It includes free health care benefits and free education for the family members, i.e., spouse and children of the property owner. Besides availing the best health care and education in the country without any extra costs, property owners can also travel without visas to certain countries and become eligible to sponsor other family members for visas.
Best Freehold destinations for investment
The Pearl-Island
It is an artificial man-made island located in the West Bay area of Doha. It is an architectural marvel, popular amongst residents and tourists alike. It was designed with upscale commercial and residential living spaces, which feature high-end villas, apartments, luxury retails and leisure hubs.
Lusail City
Lusail is the second-largest city in Qatar, located on the coast, in the southern part of the municipality of Al Daayen. Lusail extends across an area of 38 square kilometers and includes four exclusive islands and 19 multi-purpose residential, mixed-use, entertainment and commercial districts. Featuring 22 hotels with international star ratings, Lusail’s vibrant, multicultural hodgepodge promises a boon for hospitality, tourism and investments in Qatar. The city will be home to more than 200,000 residents of its scenic surroundings, 170,000 professionals in its 19 districts, and 80,000 visitors to its entertainment, recreation and retail and hospitality facilities; a population of nearly 450,000 people.
West Bay
One of the best areas to buy a property in Qatar. It is renowned for its luxury living standards, offering access to a private beach and a breathtaking view of the Arabian Sea. The prices for villas and residences in this area are always on the rise as the demand remains strong.
Onaiza (Commercial Properties)
Known as the Foreign embassy district of northern Doha, the developments in this district and its proximity to Lusail and Al Dafna have made it a profitable investment destination.
Al Dafna (Commercial Properties)
Located on the Persian Gulf, it’s a seaside district of Doha, an upcoming central destination for commercial activities. It boasts of the top luxury hotels, restaurants and high-fashion retail spaces of the country in its locale.
Al Khor Resort
It is a coastal city, with the AL Khor resort as its star attraction. This resort offers real estate for investments; being close to AL Khor marine and Al Sultan Resort, it attracts huge tourist traffic, and the return on investments is high.
Al Khuraij
The new development localities where you can buy commercial and residential properties with a good return on investments.
Leasehold Areas for investments
Mshereib, Al Doha Al Jadeeda, Fereej Abdul Aziz, Old Al Ghanim, Al Salata, Rawadat Al Khail, Fereej Bin Mohammed, Al Rufaa, Old Al Hitmi, Al Mansoura, Najma and many more neighborhoods have been added by the Qatari government under the Qatar Property Ownership laws, eligible for foreign investments.
What does the future hold
The rising demand for luxury properties in Qatar has increased the construction of new mixed buildings with sustainable infrastructure and high-end green living. It has also increased the risks of oversupply and corruption. The Government has initiated many regulations to maintain transparency and accountability in all the dealings in the real estate market by setting up a regulatory authority through the Ministry of Justice.
Contact us at 25 Spaces if you are looking to invest in Qatar’s real estate. We provide premium services to our clients, with a vast list of luxury properties and extensive local network connections, we can assist you in making the best investment deals!
Contact us at +974 4464 2525 or drop an email at info@25spaces.com.
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