Increasing population of expatiates, High per capita income of the people, spending on leisure lifestyle, Catering to the needs of inbound tourists in FIFA Cup 2022 were the key factors driving the growth in Qatar Real Estate Market.
The report titled “Qatar Real Estate Market Outlook to 2021 – Economic Diversification and FIFA World Cup 2022 to Support Infrastructure Development” by Ken Research suggested a growth at a CAGR of 20.1% in revenue in Qatar Real Estate Market in next 5 years till 2021.
Qatar is an oil-based economy and the recent fall in oil prices has led Qatar to diversify its economy in various sectors, namely- Finance, Tourism and others. The real estate market is likely to have strong linkages with the economic growth and as the Qatar’s economy is poised to grow further, the real estate sector is anticipated to witness a bright outlook in upcoming years. The primary growth drivers are increasing population of expatriates, focus on inbound tourism, FIFA World Cup 2022 and economic diversification. The boom in construction and infrastructure in all real estate segments owe to these factors. Doha is the capital city and the leading real estate market of Qatar. It is the residential, commercial, retail and hospitality hub of the country, and attracts large number of people. Moreover, the city of Doha is home to large number of foreign corporations. Immense business and employment opportunities in the city have attracted large number of migrants from other countries.
The primary growth drivers of Doha real estate market are low property finance interest rates, increasing number of expatriate, focus on FIFA World cup 2022 and National Tourism Strategy 2030. Increasing number of railway connections, airports, shopping malls, hotels, apartments and villas have been witnessed owing to increasing infrastructure development in Qatar. The Government of Qatar is focusing a lot on construction to meet the demand of tourists visiting Qatar in 2022 and meet the need of residence owing to increasing population.
The country has a strict regulation that Foreigners are allowed to buy property only in 3 major areas namely – The Pearl, West Bay Lagoon and Barwa-Al Khor City and the property price are very high in these areas due to the restriction. Immigrant population of Qatar accounts to over 75% of the total population in the country but there are restrictions on buying property by non-Qataris. All these regions have very high property rates making it difficult for foreigners to afford residential accommodation and lately, due to many immigrants leaving Qatar owing to economic crisis, sales of these properties has further declined.
Key Topics Covered in the Report:
Qatar Villa Market
Qatar Investment in Real Estate
Qatar Real Estate Broker Market
Qatar Property Market
Qatar Residential Real Estate Market
Qatari Real Estate Prices
Qatar Doha Property Market Ready
Hotel Room Supply Doha
Qatar Real Estate Sector Report 2017
Residential Real Estate Supply
Qatar Real Estate Market
Doha Property Market Trends
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Ankur Gupta, Head Marketing & Communications