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The Association of Filipino Realtors & Entrepreneur Executives in Qatar (AFREEQ) has expressed its delight at the recent announcement by the government on the conditions and controls for foreign (non-Qatari) ownership of real estate in Qatar.
“This much awaited pronouncement by the government not only clarifies the many grey areas on the rules on non-Qatari ownership of properties in the country but also raises the bar for foreign buyer confidence, both new and existing,” the association said in a press statement. With this development, Filipinos and other South East Asian expats can now join the home ownership ladder in Qatar, the statement said.
According to AFREEQ Chairman Joseph Timothy Rivera, entry level properties in new modern developments in the Lusail City area are currently priced fairly starting at QR8,900 (Php 115,000) only per square metre, which is actually the very same average price per square metre for middle-class condominiums in Metro Manila in the Philippines.
“In fact, some of the high-end properties in Fox Hills, also in Lusail City, priced at QR14,441 (Php 187,733) only per square metre are actually far lower than the cost of similar luxury properties in the upscale Makati & BGC districts of Metro Manila costing around Php 224,000 (QR17,230) per square metre,” he said.
He continued, “Even in the The Pearl Qatar, prices of apartments average at around QR 10,000 (Php 130,000) only per square metre for units with community views while units with direct marina views start at around QR12,000 (Php 156,000) only per square metre. These prices are still relevantly competitive than the cost of similar properties in Manila’s Entertainment City which peaks at around Php 300,000 (QR23,076) per square metre. (TNN)
“This much awaited pronouncement by the government not only clarifies the many grey areas on the rules on non-Qatari ownership of properties in the country but also raises the bar for foreign buyer confidence, both new and existing,” the association said in a press statement. With this development, Filipinos and other South East Asian expats can now join the home ownership ladder in Qatar, the statement said.
According to AFREEQ Chairman Joseph Timothy Rivera, entry level properties in new modern developments in the Lusail City area are currently priced fairly starting at QR8,900 (Php 115,000) only per square metre, which is actually the very same average price per square metre for middle-class condominiums in Metro Manila in the Philippines.
“In fact, some of the high-end properties in Fox Hills, also in Lusail City, priced at QR14,441 (Php 187,733) only per square metre are actually far lower than the cost of similar luxury properties in the upscale Makati & BGC districts of Metro Manila costing around Php 224,000 (QR17,230) per square metre,” he said.
He continued, “Even in the The Pearl Qatar, prices of apartments average at around QR 10,000 (Php 130,000) only per square metre for units with community views while units with direct marina views start at around QR12,000 (Php 156,000) only per square metre. These prices are still relevantly competitive than the cost of similar properties in Manila’s Entertainment City which peaks at around Php 300,000 (QR23,076) per square metre. (TNN)
