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Satyendra Pathak
Doha
The real estate market in Qatar is expected to witness growth in sales, purchases and rents in 2018, Al Asmakh Real Estate Development Company has said in its latest report.
“The number of inquiries for freehold apartments has increased during the third quarter of 2017, especially by Qataris and expatriates. An increase in sales during the first half of next year is expected,” the report said.
The report has attributed positive outlook in the realty sector to increased economic activities in Qatar this year.
According to the report, the increased economic activities have reflected positively on transactions in various residential and commercial sector projects.
“Time is now ripe to look for investment opportunities in the real estate sector, especially investing in residential properties,” the report said.
The value of sales and mortgage in October is estimated to have reached QR6 billion, the report said, adding that the value would be reflected positively on the real estate turnover during the fourth quarter of 2017.
Completion of major projects would increase demand for housing in new areas, creating opportunities for new investments in the realty sector.
In addition, the report said, liquidity in the banking sector would play a major role in pushing the real estate market forward and stimulating recovery in the real estate sector.
“Housing projects being currently implemented include luxury housing and are expected to be occupied at good prices,” the report said.
In a recent report, SAK Holding Group also said that Qatar’s real estate market managed to counter the adverse effects of the unjust siege imposed by the Saudi-led bloc with launch of new projects.
The report said, “In less than a month, Qatar was able to counter the blockade through plans and mechanisms that enabled it to ensure continuous flow of supplies to meet the needs of the local market of various consumer and basic goods and building materials.”
According to the report, the blockade has not affected Qatar as negatively as the siege countries may have expected.
“The real estate sector has proved its ability to rearrange its conditions, especially in the light of the government determination to continue the process of urban development as per plans and set timetables,” the report stated.
The growing number of transactions and new projects launched by real estate companies confirm that Qatar’s real estate market is strong enough to overcome any pressure and will continue growing smoothly, the report said.
