Things to Know About Buying a House in Qatar
“Should I buy a property in Qatar ?” is a legitimate question these days. Qatar is perceived as a land of wealth and luxury and when it comes to investing in properties, this is actually the truth. The falling price of petrol also influenced the real estate market, and the costs of apartments or villas dropped off in the past two years due to the rentals falling prices.
New large developments still increase in size and the number of residential units understand and become higher, to suit local and international standards in luxury. While the local Qatari rich people, progressively are attracted to the UK’s, Switzerland, France, and Eastern European real estate markets, amazing properties become an attraction for expats within specific residential developments in Qatar.
Since 2004 expats are allowed to buy properties in Qatar (apartments, villas, commodious, commercial, and office spaces), but only within specific large building developments of Qatar, such as The Pearl Island, West Bay, and Lusail City.
Even if the prices for villas and apartments for sale dropped off considerably, 2018 -2019 might be an encouraging ground to invest in buying a property in Qatar. We give you situations and reasons why and when to buy a freehold property in Qatar.
1. Buying a house in Qatar as a long term investment
Due to economic premises and continuous of properties supply on the market, both, rental and sale, prices fall down in Qatar and for expats moving in Qatar legitimate question occurs: Buy or Rent a House while relocated?
The answer depends much on the period that the person is to live in Qatar for. If the labor contract is for less than 3 years, definitely should rent an apartment. Fully furnished apartments, eventually a serviced one, might suit the short-living in Qatar with a comfortable lifestyle.
In case, the working period on Qatar territory is longer than 5 years, the potential buyer should analyze thoroughly the opportunity in purchasing a property and consider it as a long-term investment. A reputable and good real estate agent might help the buyer make the correct decision, choose the most profitable investment in property and assist in documentation.
2. There is an expectancy for property price to rise due to the 2022 FIFA World Cup in Qatar
The real estate market in Qatar suffered several serious shifts during the last years, but the experts seem to be optimistic about an improvement due to the approach of the 2022 FIFA World Cup in Qatar.
At the same time, there is an expectancy for new draft legislation regarding real estates for foreigners that might revive selling properties to expats and attract foreign investment into Qatar. Such an initiative, along with the planned World Cup, would boost both the residential and commercial properties market.
3. Look for top-line apartments for sale in the Pearl as an investment in Qatar
The Pearl remains famous for its high-end apartments, provided with exclusive, state of art amenities and finishings. Even if the price per square meter dropped down by 6 % in the first trimester of this year comparing to 2017, there still is an appetite for classy luxury.
On the ground that the real estate market might be influenced by FIFA 2022, the Pearl and Lusail, are the luxury freehold areas where expats should invest. But again, the decision of buying a property in Qatar should be strongly analyzed assisted by a reputable real estate representative.
We are here as your luxury real estate company to provide you the best option for you, as our aim is to provide your dream home!