Not all real estate markets have endured as well as Qatar’s in the face of factors that have pinched pockets around the world over the last few years.
Now real estate buyers see Qatar's housing market as an "investment haven," which boils down to a combination of factors.
Growing confidence to invest more
It seems investors worldwide are showing a strong recovery in buying confidence in villas and apartments that line Qatar's pristine streets in the heart of the Mediterranean.
Following the easement of Covid-19 restrictions in 2021, the Planning and Statistics Authority reported a 2.8% monthly rise in the value of real estate sold in Qatar between October and November.
This exhibits a greater influx of higher-value investments. In addition, the sale price of property rose by 28% in the year to November 2021.
In 2022, house prices in Doha, Qatar, average QR 15,000 per sqm. At its highest, QR 25,000 per sqm.
Moreover, the rapid development of the country's infrastructure, business and leisure sectors is a major contributor to rising property prices and thus, capital appreciation. This has contributed to a greater sense of security for higher investments.
Booming rental demand, boosted by leisure appeal
Buyers of rental properties also benefit from the reliability of rental demand from a growing population in Qatar.
The rise in rental demand in Qatar's housing market this year is largely inspired by the much-awaited FIFA 2022 World Cup, which kicks off in Qatar's capital Doha in November.
The major sporting event is expected to attract 1.5 million new expatriate workers from various professional backgrounds, such as architecture, design and finance.
In fact, Qatar's population has already blossomed, from 1.77 million in 2010 when the event was announced, to 2.7 million in 2017!
Five new major tourist attractions will also be launched before the world-renowned event to provide an unforgettable holiday opportunity for football fans from around the world.
This in turn will increase the need for rental accommodation and encourage a solid bounceback to tourism after the pandemic.
Examples of new attractions include Doha Winter Wonderland with 50 rides and chic restaurants, and the 1.3 million sqm ‘Entertainment Island’ featuring the world's tallest water slide.
Which beautiful areas of Qatar are the most sought after?
While Qatar as a whole exudes luxury charm, certain residential areas attract more first-time buyers and experienced investors.
To illustrate, the sales of villas in Al Wukair, 15 minutes south of Doha, rose by 80% between mid-2020 and 2021. In central Doha, the sales of villas in Abu Hamour grew by 50%. To the north of Doha, the sales of villas in Al Duhail also increased by 50%.
As you can see, Qatar's real estate is seen as a safe choice for maintaining capital that will only strengthen after FIFA 2022 by introducing innovative infrastructure and economic development.
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