Thought of as the land of luxury and wealth, Qatar is an up and coming country that has been on the watch list of many real estate investors.
Qatar has the image of being a wealthy and luxury country, and Qatar’s real estate properties are no less.
In fact, due to the fall in petrol prices and the falling price of villas and apartments due to low rentals, Qatar is now the new hot spot for property investment!
According to the rules of the country, foreigners are allowed to buy properties in 20 areas in Qatar, which include both freehold and leasehold properties.
If you’ve been thinking about buying real estate in Qatar, here are some great reasons to follow your gut and go through with this fruitful investment.
And answering the question on your mind, yes, you should buy property in Qatar!
Qatar’s real estate market is excellent for long-term investments
If you’re thinking about buying a property in Qatar as a long term investment, then your investment will be very profitable.
Since Qatar is home to many international employees, migrant labour and often visited by tourists from all over the world, an investment in a rental property will be highly profitable.
With the upcoming FIFA World Cup in 2022, it is expected that hundreds and thousands of fans will visit Qatar, many of whom will prefer to take up rental properties as opposed to paying steep hotel bills.
The FIFA World Cup might also attract a large number of foreign investors, which is excellent for people who might be looking to sell after a few years.
Upcoming state of the art districts in Qatar are the future
With upcoming residential developments, Qatar is redefining the way people live.
One such forthcoming district is Yasmeen City, which is a posh and luxurious community district that has various residential complexes, commercial buildings as well as the modern state of the art facilities.
Think of this as Qatar’s smart city.
With world-class educational facilities, international chain hotels, a private mall and two mosques inside the compound of this trendy city, residents will never have to step out of their luxurious lifestyle.
If you’re thinking of investing in the future of Qatar, invest in this upcoming smart city!
Qatar is developing its private residential island
Now, how many countries can say that they have their private island that offers the most pleasing residential experience?
Luxury at its best, the Qetaifan Island of Qatar is just minutes away from Doha, ensuring that this island allows privacy, luxury and convenience.
A unique city indeed, Qetaifan Island has fancy residential areas, commercial areas as well as mixed-use commercial areas.
This island will also have a water park, a family entertainment centre, cycling trails, green spaces and parks and of course, various entertainment areas such as the beaches and downtown.
Now, who wouldn’t want to live in the lap of luxury? Consider investing in Qatar’s private island, be it in commercial spaces, residential areas or the luxurious villas.
Qatar is developing at a rapid pace
While Qatar is technically considered a developing country according to the United Nationals, it is regarded as a first-world country.
With a gross domestic product (GDP) per capita of $143,788, Qatar is one of the top-ranked nations on the list of developing countries.
In fact, with such a high GDP per capita, Qatar almost breaks out of the developing country category.
So, keeping in mind that this country is growing and developing at a breakneck pace, the GDP per capita is high, and the economy of the country is strong and healthy, it is safe to say that an investment in Qatar’s real estate market will be a pretty fruitful investment.
Top of the line apartments are up for grabs
Due to the fall in the price of luxurious apartments and villas, the real estate market in Qatar took a slight hit.
This had a lot to do with the fact that the prices of petrol dropped and the rental yields decreased.
However, this is excellent news for buyers as the top of the line apartments are now available at more affordable prices.
As Qatar continues to develop, it is expected that the property prices in Qatar will start soaring.
Hence, if you’re getting a posh apartment in a prime location for a price that seems too good to be true, it might be a good idea to make the most of this opportunity.
Qatar does not have any property tax
Since Qatar does not charge any property tax, think of all the money you could save on your real estate investment!
Of course, developers might charge a small fee for services such as maintenance, car parking etc.
However, these are usually not too high.
When you buy property in Qatar, you do have to pay a nominal transfer fee which is generally around 0.25 per cent of the overall value of the property.
Basically, by not having to pay property tax, you end up saving a considerable sum of money, especially if the value of your investment is high.
In the end, it’s a win-win situation for the investor!
While the idea of owning property in Qatar sounds like a dream come true, you must make a well-informed decision before investing in real estate.
It is essential that you speak to a real estate agent in Qatar and do your research about property prices, the future of Qatar’s real estate market and the upcoming residential developments in Qatar before making any investment decisions.
After all, buying a property is a significant investment, one that needs to be well thought out and not based on a whim or a wish.
Once you have got your financials all figured out, speak to a reliable real estate agent in Qatar, understand what kind of property you want to buy and do your proper research on property prices, after which you should start the process of investing.