The Qatar real estate market is booming, with over QR317 million in property sales recorded in just three days last week.
According to data from the Ministry of Justice’s Department of Real Estate Registration, sales contracts worth QR291,866,247 were registered between December 19 and 21, 2023. An additional QR25,224,573 in sales contracts for residential units were recorded in the Real Estate Bulletin for the same period.
The sales covered a range of property types across Qatar, including vacant land, houses, residential buildings, shops, a residential complex and residential units in Doha, Al Rayyan, Al Wakrah, Al Daayen, Umm Salal, Al Khor, Al Dakhira, Al Shamal municipalities, the Pearl and Lusail.
This continues a strong run for Qatar’s real estate market, with over QR369 million in property trading recorded just a week earlier from December 10 to 14.
With Qatar gearing up to host the FIFA World Cup 2022, the country is undergoing massive infrastructure development and population growth, driving demand for property. This presents lucrative opportunities for real estate investors and developers.
The government has also introduced reforms to allow foreign ownership of freehold property in designated areas, further supporting the market’s growth.
With high demand and rising prices, Qatar’s real estate boom looks set to continue into 2023 and beyond. Savvy investors may want to consider adding Qatari property assets to their portfolios.
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