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Satyendra Pathak
Doha
Qatar’s real estate sector has continued to show buoyancy in the first quarter of 2021, a new report has said.
According to the report based on data from Property Finder Qatar, demand in Qatar’s real estate sale market has skyrocketed with a whopping 74 percent increase in recorded inquiries in the first quarter of 2021 compared with the fourth quarter of 2020.
In addition, the report said, properties for sale on the website has also seen a significant rise with a massive 33 percent and 60 percent increase recorded for apartments and villa listings respectively on propertyfinder.qa.
“The county’s new property ownership laws which were introduced late last year and lowered prices in high demand areas such as Al Erkyah City and West Bay led the spike in demand,” the report said.
“Buyers who had the means to invest during 2020 were eager to take advantage of declines in sales prices, along with first-time buyers also jumping on the property ladder,” Property Finder Qatar Country Manager Afaf Hashim said.
“Demand for the sale market in Qatar, which previously has been more of a renter’s market, is continuously increasing, especially with the enhanced government investment initiatives that have been announced,” Hashim said.
“The demand for bigger spaces has also been growing exponentially over the past year and we are still seeing interest grow, with a 15 percent increase in villa sale searches on our website between the fourth quarter of 2020 and the first quarter of 2021,” he said.
“The addition of areas that allow for foreign real estate ownership has rejuvenated the villa sales market, especially since the majority of stock in areas prior to these laws included mostly apartments. Nevertheless, we can now see an increased interest in villas for sale in Qatar, with prices starting to find more of a stable trend,” Hashim said.
According to the report, advertised prices for villas for sale in West Bay and in West Bay Lagoon recorded a decline of one percent and two percent respectively in the first quarter of 2021 when compared with the fourth quarter of 2020, while Umm Salal Ali recorded a decrease of eight percent in advertised prices for villas for sale in the same time frame.
“The most popular areas for apartment sale searches in Qatar remain steady with The Pearl, West Bay and the many different areas of Lusail commanding the top three spots in the first quarter of this year. In terms of villa sale searches, The Pearl, West Bay and Al Duhail, are the top searched areas for villas for sale in the first quarter of 2021,” the report said.
Doha
Qatar’s real estate sector has continued to show buoyancy in the first quarter of 2021, a new report has said.
According to the report based on data from Property Finder Qatar, demand in Qatar’s real estate sale market has skyrocketed with a whopping 74 percent increase in recorded inquiries in the first quarter of 2021 compared with the fourth quarter of 2020.
In addition, the report said, properties for sale on the website has also seen a significant rise with a massive 33 percent and 60 percent increase recorded for apartments and villa listings respectively on propertyfinder.qa.
“The county’s new property ownership laws which were introduced late last year and lowered prices in high demand areas such as Al Erkyah City and West Bay led the spike in demand,” the report said.
“Buyers who had the means to invest during 2020 were eager to take advantage of declines in sales prices, along with first-time buyers also jumping on the property ladder,” Property Finder Qatar Country Manager Afaf Hashim said.
“Demand for the sale market in Qatar, which previously has been more of a renter’s market, is continuously increasing, especially with the enhanced government investment initiatives that have been announced,” Hashim said.
“The demand for bigger spaces has also been growing exponentially over the past year and we are still seeing interest grow, with a 15 percent increase in villa sale searches on our website between the fourth quarter of 2020 and the first quarter of 2021,” he said.
“The addition of areas that allow for foreign real estate ownership has rejuvenated the villa sales market, especially since the majority of stock in areas prior to these laws included mostly apartments. Nevertheless, we can now see an increased interest in villas for sale in Qatar, with prices starting to find more of a stable trend,” Hashim said.
According to the report, advertised prices for villas for sale in West Bay and in West Bay Lagoon recorded a decline of one percent and two percent respectively in the first quarter of 2021 when compared with the fourth quarter of 2020, while Umm Salal Ali recorded a decrease of eight percent in advertised prices for villas for sale in the same time frame.
“The most popular areas for apartment sale searches in Qatar remain steady with The Pearl, West Bay and the many different areas of Lusail commanding the top three spots in the first quarter of this year. In terms of villa sale searches, The Pearl, West Bay and Al Duhail, are the top searched areas for villas for sale in the first quarter of 2021,” the report said.
