Qatar Housing Real Estate Key Market Trends
RESIDENTIAL SUPPLY
As of Q1 2021, the total housing stock was approximately 304,715 units with
the addition of 1,700 apartments and villas.
Apartment supply consisted of 1,650 units coming from project handovers
in Lusail (Fox Hills and Marina District), The Pearl, Al Dafna, Mirqab Al
Jadeed and Fereej Abdul Aziz.
Contracts of residential buildings were awarded during the quarter in Lusail
Waterfront, Marina and Fox Hills, estimated to add 450 units by the end of
2022.
6,300 units are currently in the pipeline for the remaining quarters of 2021.
RESIDENTIAL SALES
The median transacted ticket size for residential houses was QAR 2.7
million, increased by 3.4% quarterly and 6.8% annually.
Transactional volumes for houses declined 3.3% quarterly but were 52.8%
higher when compared to the same period last year.
Amongst all areas, Umm Garn had the highest volume of transactions for
residential houses and Fereej Al Amir had the highest ticket size.
68 transactions were recorded for residential buildings, as Old Airport and
Umm Ghuwailina had the highest number of transactions.
During the first two months of 2021, the volume and value of transactions
in The Pearl and West Bay Lagoon fell 6.8% and 11.7% annually
respectively.
The Average Sales price for the Apartments in The Pearl was QAR 16,000
per square meter.
RESIDENTIAL RENTS
The median monthly asking rent for residential units dropped 1.8% QoQ and
5.7% YoY.
Villa rents continue to reduce at a slower pace compared to apartment rents in Qatar which have experienced rapid drops over the last year.
The median monthly asking rent for apartments was QAR 6,290, declining
1.9% quarterly and 6% annually. Three-bedroom apartments experienced
the highest quarterly falls in rent of up to 5.3%.
West Bay, Fereej Bin Mahmoud and Al Mansoura experienced the highest
quarterly drops in rents varying 3.5% to 5%.
The median monthly asking rent for villas was QAR 10,460, which fell by
1.2% QoQ and 3.9% YoY. 3-bedroom villas experienced the highest
quarterly drop in rents of up to 2.8%.
Villas in compounds in Al Aziziya and Ain Khaled experienced the highest
QoQ rental falls by an estimated 3.3%.
The Average monthly asking rent in The Pearl for One, Two & Three
Bedroom Apartments was QAR 7,750, QAR 12,000 & QAR 15,000
respectively.
OFFICE SUPPLY
As of Q1 2021, the supply of office space was 5.5 million sq m Gross
Leasable Area (GLA). Moreover, 62% of the existing stock was of Grade-A
Seven office projects were added this quarter in Lusail, Ain Khaled (Salwa
Road), Fereej Abdul Aziz, Old Airport, Al Muntazah and Msheireb comprising
of 145,000 sq m GLA.
Upcoming projects till 2022, currently under development totalled 1.28
million sq m GLA, 62% of which is located in Lusail (Fox Hills, Energy City,
Commercial Boulevard and Marina District) and the remaining mixed
amongst Umm Ghuwailina, Al Hitmi and Al Dafna.
QATAR OFFICE SUPPLY
