Qatar| Opportunities & Growth Factors

Qatar is one of the most happening and dynamic economies in the Middle East. The highest GDP growth and inflow of population superbly accommodated by employment opportunities as well as supportive government policies are mainly the salient factors directing the housing real estate factors in the country.
Just like many other countries, Qatar was also under the onslaughts of Covid 19. The pandemic has badly impacted Qatar’s Residential Real Estate market. Many residential projects were suspended or delayed due to the Covid 19.
But here coming the good days again, Qatar’s real estate market is bound to set a strong recovery this year with more residential units. Around 8,200 housing units are supposed to be launched in the market in 2021, opening more areas for home buyers.
The Pearl Qatar investment bay residential supply this year is expected at 8200 units, approximately 80% of the upcoming supply expected In Lusail.

Latest Trends in Qatar’s Residential Market

Qatar’s residential market remains weak because it continues to be adversely full of the economic and monetary fallout from the continued COVID-19 pandemic. The offer continues to rise despite plunging demand, leading to falling residential property costs. Qatar’s housing market is anticipated to still struggle throughout the rest of the year because the COVID-19 pandemic is exasperating the crisis within the region.
There is large competition between the residential property firms in Qatar. The market is dominated by many players. The sales proportion of residential property properties through online channels has systematically grownup, because of the rising net penetration, growing demand, increasing personal disposable incomes, stormy materialistic youth population, and opportunities offered by government infrastructure investments.

Foreign investment in Qatar’s residential property

market is calculable to extend within the returning years, as non-Qataris could invest in chosen property comes, like the West Bay lagune and therefore the Pearl. Major property players within the market area unit Al Mana property, United Development Company, Qatari Diar property Company, Ezdan Holdings, and Barwa property Company.
In Q2 2020, group action volumes for residential homes fell by 26% from a year earlier. The overall worth of residential transactions stood at USD 714.1 million in H1 2020. At The Pearl-Qatar and West Bay lagune, residential purchases had born two-hundredths in H1 2020 from a year earlier. Within the half of 2020, about 2,250 flats and 700 villas were extra to the market, transferral the overall stock to three hundred, 550 units. About 2,000 residential units were completed within the Pearl, Lusail, and West Bay.
The Ministry of Justice has added on its website a section regarding Non-Qatari Real Estate Ownership. The government showed a lenient policy by reserving areas where the expatriates or foreign buyers can have ownership as well as profits from the real estate, which seems to be attracting more and more buyers in this sector.
They will be lodging in the country like nationals and enjoy the perks of easy access to healthcare and educational facilities also they will be allowed to own a property and will no longer need a local partner to operate commercial activities. According to Qatar Statistics Authority, the foreigners comprise 3/4 of the total population of Qatar, which implies that giving benefits to the non-Qatri’s and making things easier for them in terms of real estate would help in an economical boost in the country.