Qatar property prices already up 5% in 2014

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Viva BahriaProperty prices in Qatar went up 5 per cent between December 2013 and January 2014 according to findings of Qatar-based property portal propertyfinder.qa.

Tracking price rises across key neighbourhoods, the portal revealed that whilst properties stood at 6.6 million riyal ($1.8 million) in December last year, the figure rose to 6.9 million riyal within a month, in January. Residences in The Pearl, one of Qatar’s most glamourous addresses, went from 3.8 million riyal in December to 3.9 million riyal in January whilst West Bay, another prominent district, saw prices move up to 2.4 million riyal from 2.3 million riyal during the same period.

With more than $200 billion worth of projects due to be awarded in the years leading to 2030, Qatar will be burgeoned further by international and government investment, said Monsi Rabah, Country Manager of propertyfinder’s Qatar operation.

“Since the successful World Cup bid and the introduction of new foreign ownership laws, there has been a sharp spike in property prices. Foreign investors are buying, construction is accelerating with massive infrastructure projects including a new metro and light rail system underway, the landscape is changing and with more than $10 billion dollar growth projected over the next decade, we are gearing up for the next big boom,” said Rabah.

With real estate heavyweights pumping in billions towards residential and commercial developments, the country’s risk profile also offers interesting opportunities for international investors.

“With spending expected to accelerate in the lead up to 2022, Qatar’s growth might just trump that of other regional markets this year,” concluded Rabah.

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Reading Time: 1 minute

Property prices in Qatar went up 5 per cent between December 2013 and January 2014 according to findings of Qatar-based property portal propertyfinder.qa.

Reading Time: 1 minute

Viva BahriaProperty prices in Qatar went up 5 per cent between December 2013 and January 2014 according to findings of Qatar-based property portal propertyfinder.qa.

Tracking price rises across key neighbourhoods, the portal revealed that whilst properties stood at 6.6 million riyal ($1.8 million) in December last year, the figure rose to 6.9 million riyal within a month, in January. Residences in The Pearl, one of Qatar’s most glamourous addresses, went from 3.8 million riyal in December to 3.9 million riyal in January whilst West Bay, another prominent district, saw prices move up to 2.4 million riyal from 2.3 million riyal during the same period.

With more than $200 billion worth of projects due to be awarded in the years leading to 2030, Qatar will be burgeoned further by international and government investment, said Monsi Rabah, Country Manager of propertyfinder’s Qatar operation.

“Since the successful World Cup bid and the introduction of new foreign ownership laws, there has been a sharp spike in property prices. Foreign investors are buying, construction is accelerating with massive infrastructure projects including a new metro and light rail system underway, the landscape is changing and with more than $10 billion dollar growth projected over the next decade, we are gearing up for the next big boom,” said Rabah.

With real estate heavyweights pumping in billions towards residential and commercial developments, the country’s risk profile also offers interesting opportunities for international investors.

“With spending expected to accelerate in the lead up to 2022, Qatar’s growth might just trump that of other regional markets this year,” concluded Rabah.

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