Published on 22 March 2007 at 06:45 pm
Filed in Property News for Qatar » Excellent Mortgage News for Property Investors in Qatar
The majority of news coming from Qatar of late has been decidedly positive indeed. There have been announcements from the government that they are to commit to an impressive investment program to the tune of 65 billion dollars in energy products for example; they are also working with the private sector to diversify the economy away from such strong dependence on the energy sector…
…in addition to this Qatar’s GDP growth in the past year has been incredibly strong and all indicators point to ongoing economic success in the nation - and now we have some excellent mortgage news for property investors in Qatar which should make profiting from Qatari real estate investments ever more impressive.
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Until the 6th of June 2004 foreigners were not permitted to own freehold title to any real estate in Qatar, and the property buying process for foreigners in Qatar amounted to being able to buy 99 year renewable leases in certain residential complexes earmarked as being available to non GCC buyers.
Since Emir H H Sheikh Hamad bin Khalifa Al Thani announced significant changes to the laws relating to foreign freehold ownership of property in 2004, foreigners now have freehold and residential rights to property in certain specific developments in the country.
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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.
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Qatar in the Persian Gulf is the latest Middle Eastern country to develop an exciting real estate market which offers overseas property investors the chance to own some of the most iconic and luxurious properties worldwide.
Oil and natural gas rich Qatar is following in Dubai’s footsteps in its efforts to diversify its economy to maintain its position as one of the fastest growing and richest per-capita countries globally. To this end Qatar represents an incredibly exhilarating opportunity to global real estate investors seeking high end properties offering large yield and growth potential.
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