Published on 25 November 2005 at 06:47 pm
Filed under: Middle East:- Qatar Property Guides » Qatar Investment Property Facts
The majority of international real estate investors focused on the Middle Eastern property market are of one mind; Qatar is the next centre for massive potential growth.
This opinion is based on the fact that the country has enjoyed substantial economic growth and a boom in the size of its population in a relatively short period of time and also based on the fact that the government have made amendments to the Constitution of Qatar to allow for the foreign freehold ownership of real estate in certain parts of the country.
In an effort to move economic dependence away from oil and gas the government of Qatar have entered a phase of aggressive diversification through the creation of opportunities for foreign investment into Qatar. They have created openings and incentives that have attracted many international businesses to the country which have in turn created employment for thousands of locals and expatriates and generated significant and sustainable wealth for Qatar. Furthermore those overseas professionals who have relocated to the region have significant purchasing power and have demanded freehold property to purchase in Qatar.
It was as a result of this increase in demand and purchasing power that ultimately led to Qatar changing the Constitution to allow for foreign freehold ownership and the creation of a viable and competitive property sector in Qatar. The properties being built currently rival those being constructed in Dubai. High spec and high rise are the main features and as mentioned the majority of buyers and renters of these properties are expatriate professionals.
Many international real estate investors who made a killing out of the Dubai property market and have since been seeking the ‘next big thing’ in the Middle East are ploughing significant funds into Qatar. The economy is strong and strengthening and the government are totally focused on developing, broadening and growing their economy and to this end Qatar will only become wealthier and attract greater numbers of expatriates who will seek property for sale and for rent.
Those who bought in Dubai are aware that there will likely come a time when demand for property exceeds supply simply because properties that are being bought off plan are not completed in time for the growing population to live in. Therefore those who are buying now may well be positioning themselves ready for a surge in demand when they will have completed properties which they can either rent for growing yields or resell for substantial gains.
While nothing in life is certain, many are convinced that Qatar offers at least as much potential as Dubai has shown so far and because the change in the Constitution only affected a small number of developments, demand for property for sale freehold to foreigners may soon outstrip supply and this will further push up prices.
If you’re looking for a high end property market opportunity built on a solid and growing economy in a stable and developing country, Qatar could very well be the emerging real estate market you’re after.
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