UPWARD GROWTH FOR QATAR REAL ESTATE
Buoyed by a strong economy and rapid population growth, the outlook for Qatar’s real estate sector is bright, despite low oil prices.
Qatar’s real estate market continues to prosper.
Backed by a strong economy, investment in the real estate sector remains strong and is expected to increase in the long term as the country prepares itself for the World Cup in 2022 and continues its economic diversification programme in line with the Qatar 2030 Vision.
Residential prices continue to rise as the Gulf peninsula’s population and economy grow. “As Qatar’s economy continues to diversify away from the hydrocarbon exports sector, which currently accounts for approximately 40% of total GDP, inflation in the residential housing market has seen rents increase due to an undersupply of good quality accommodation,” commented Mark Proudley, Associate Director, Consultancy and Research, DTZ.
Even potential geopolitical risks as well as a potential threat stemming from historically low oil prices seem to have no major negative impact on the Qatari real estate market.
Mark Proudley said that whilst the wider region has witnessed a lot of instability, Qatar along with the UAE are still seen as being relatively stable from a political perspective. “Dubai has significantly benefitted from this with investors across the region attracted by the stability and Dubai’s increasingly recognised status as a global city. Qatar has also seen an increased level of interest but to a much lesser extent,” he commented.
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