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The upcoming FIFA World Cup in Qatar next year is starting to impact on the residential real estate market in Qatar, a real estate research report has said.
According to Cushman and Wakefield Qatar, a significant number of new and upcoming developments are being reserved by the World Cup organising committee to accommodate travelling supporters, while demand is also increasing from companies looking to house staff in the lead up to, and during, the tournament.
There has been evidence of residential rental increases in Q3 following a downward trend since 2016, the research firm said its third quarter review of Qatar’s real estate
market.
According to its estimates, on average, quoted rents for vacant units have increased by between 5 percent and 10 percent in recent months as vacancy rates reduce.
“The residential sales market has been boosted over the past two years by the increase in the number of freehold zones. The availability of property for sale in Lusail, in particular, has seen sales activity increase by 58 percent in 2019 and 9% (YTD) in 2021 – driven largely by an increase in non-Qatari purchasers,” Cushman and Wakefield Qatar
said.
According to Cushman and Wakefield Qatar, a significant number of new and upcoming developments are being reserved by the World Cup organising committee to accommodate travelling supporters, while demand is also increasing from companies looking to house staff in the lead up to, and during, the tournament.
There has been evidence of residential rental increases in Q3 following a downward trend since 2016, the research firm said its third quarter review of Qatar’s real estate
market.
According to its estimates, on average, quoted rents for vacant units have increased by between 5 percent and 10 percent in recent months as vacancy rates reduce.
“The residential sales market has been boosted over the past two years by the increase in the number of freehold zones. The availability of property for sale in Lusail, in particular, has seen sales activity increase by 58 percent in 2019 and 9% (YTD) in 2021 – driven largely by an increase in non-Qatari purchasers,” Cushman and Wakefield Qatar
said.
