Qatar’s housing market is one of the core and central topics discussed across the country by many residents and expats as the rents remain unchanged this year. Various tenants took this issue and were outraged on social media platforms as the prices were expected to decline post-World Cup 2022.
A massive incline in residential rents last year reportedly affected individuals in Qatar but the prices remain steady even after the global sporting tournament concluded. However, the landlords refrained from dropping the costs targeting a profitable year the second time in a row.
The real estate expert mentioned that the number of sales and leasing activities have soared in the country as tenants are actively looking for properties to reside in some of the best locations in Qatar providing resilient opportunities to boost the company’s profit and the country’s economy.
Individuals are flocking from the UAE to Qatar and many landlords have been gaining due to the rising number of real estate activities available in the market. As the landlords continue to take advantage of the increased prices in the residential sector, tenants are still expecting affordable prices.
Recent data by Global Property Guide states that Qatar is the costliest residential country to live in the Middle East amid a hassle-free and tax-free lifestyle. As prices skyrocketed in 2022, real estate investments in the country soared with many tourists pouring in, expats choosing to relocate, global investments being carried out and bilateral relations between Qatar and other countries growing strongly.