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Tribune News Network
Doha
The FIFA World Cup to be held in Qatar next year is unlikely to have a major impact on rents in Qatar, Kate Real Estate Group CEO Abdul Rahman Al Najjar has said.
According to him, efforts in preparing a large number of hotels and public facilities in anticipation of a surge in real estate demand during the sporting spectacle would ensure that its impact on rents would be minimal.
In an interview with the Qatar TV, Najjar said rental prices in the country have stabilised over the past few months and that their stable trajectory for nearly a month points to the general stability of the market.
He said real estate developers, sellers, investors and banks support stability and shield the sector from sudden waves of rises and falls.
High demand and World Cup contracts were some of the main reasons for the stability of the market, he added.
Najjar, however, pointed out that certain areas saw rents rising as much as 20 percent and did not fall, although indicators pointed otherwise.
On the other hand, residential rental prices in Qatar have witnessed a decrease in some areas over the past months, as real estate experts anticipate the prices to go through a phase of stability until the end of 2022.
Indicators of the real estate market movement from a year ago to now indicate more supply than demand in the real estate market, and equal demand for the type of real estate (administrative - household) to equal the rental value of the two types, bearing in mind that previously there was an increase in the value of the type of administrative real estate over residential.
Official data indicate an increase in real estate transactions during 2020, in addition to the rapid recovery of the market from the effects of the coronavirus pandemic.
According to official data, the value of real estate transactions in Qatar, during the past year, exceeded QR31 billion ($ 8.5 billion), recording a growth of 36.2% on an annual basis, to reflect the growth in the values of real estate transactions, and investors’ demand for the real estate sector as a safe investment.
Doha
The FIFA World Cup to be held in Qatar next year is unlikely to have a major impact on rents in Qatar, Kate Real Estate Group CEO Abdul Rahman Al Najjar has said.
According to him, efforts in preparing a large number of hotels and public facilities in anticipation of a surge in real estate demand during the sporting spectacle would ensure that its impact on rents would be minimal.
In an interview with the Qatar TV, Najjar said rental prices in the country have stabilised over the past few months and that their stable trajectory for nearly a month points to the general stability of the market.
He said real estate developers, sellers, investors and banks support stability and shield the sector from sudden waves of rises and falls.
High demand and World Cup contracts were some of the main reasons for the stability of the market, he added.
Najjar, however, pointed out that certain areas saw rents rising as much as 20 percent and did not fall, although indicators pointed otherwise.
On the other hand, residential rental prices in Qatar have witnessed a decrease in some areas over the past months, as real estate experts anticipate the prices to go through a phase of stability until the end of 2022.
Indicators of the real estate market movement from a year ago to now indicate more supply than demand in the real estate market, and equal demand for the type of real estate (administrative - household) to equal the rental value of the two types, bearing in mind that previously there was an increase in the value of the type of administrative real estate over residential.
Official data indicate an increase in real estate transactions during 2020, in addition to the rapid recovery of the market from the effects of the coronavirus pandemic.
According to official data, the value of real estate transactions in Qatar, during the past year, exceeded QR31 billion ($ 8.5 billion), recording a growth of 36.2% on an annual basis, to reflect the growth in the values of real estate transactions, and investors’ demand for the real estate sector as a safe investment.
