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Real Estate Guide: Properties for SALE in Qatar

11th December 2018

What’s Right for You: Things You Need to KNOW about Properties for SALE in Qatar

We are writing this real estate guide about properties for sale in Qatar for you to have a fresh start and real, on market, information when you decide to have your own home.

What you find in this Real Estate Guide: Properties for SALE in Qatar

Introduction

General Things to Consider About Apartments for Sale in Qatar 

Calculation : Properties for RENT in Qatar

Calculation: Properties for SALE in Qatar

Residential Sales vs Area

The Pearl (Doha)

Lusail City

West Bay(Doha)

Conclusion

Introduction in Real Estate Market in Qatar

Imagine that your plane just has landed in Qatar. You will start a new life with your family knowing that you will face a lot of changes with the culture, environment and lifestyle. Despite of the circumstances, you chose this country because of the security and the healthy environment it can provide for your family. What would be the best options for you to start anew?

At first, you will be thinking of a way to settle your family. Definitely that renting is more efficient and plausible than buying an apartment as it is more practical for a newcomer, but is it totally worth your money for years of staying? I bet your answer would be as hesitating as you because of your concern with the overall expenses on the later stage. But let me tell you this, you are neither RIGHT nor WRONG. There are always pros and cons in every decision that we take for the ones worth keeping for us.

Every country has its own real estate culture, many realtors and marketers try their own unique campaigns to fascinate their potential clients to buy apartments for the best deal that they can offer. Many catching phrases such as “as low as 20% down payment” or “pay until 10 years” that you will see in many platforms across the internet by most of the real estate companies in Qatar. Many potential buyers will eagerly click and inquire on how to get the deal. As a broker, your job is to intermediate between the landlord and the client as the deal goes on.

After a period of instability in the real estate market this year, Qatar still holds the business intact and paved the way for more opportunities. Many of the luxury real estate companies and developers are still on-going for construction on both commercial and residential properties to accommodate the expanding population in the country. They say that there will be more development projects to look forward to next year as 2022 is fast approaching.

Now, these being said, here are some things you need to KNOW to help you out what to analyze before taking the next step on buying apartments in Qatar.

properties for sale in Qatar a brand new market- FGREALTY

General Things to Consider About Apartments for Sale in Qatar

As we all know, Qatar is still in a continuous state of a developing country with increasing number of expats living in the country than the locals or (Qatari nationals). It also became famous for investors and business men to work and earn money. With these in consideration, housing is more in-demand than ever and many real estate developers are thinking a way to accommodate all residents in an efficient and practical way. As the time progresses, people are starting to re-think if renting is still efficient for them or to buy a flat or villa and live in Qatar for more than five to six years. In our favor, Qatar has also given advantage to expatriates that they chose from properties to sale in these following cities of Qatar: in Lusail City, The Pearl and West Bay. In my opinion, if you are thinking for a secured long-term future, looking for houses for sale in Qatar and buying one has the most minimal risk in terms of expenses.

Before buying a house in Qatar, think about your options as a potential buyer as how you would pay the property. Keeping in consideration that there is positive residential supply, it gives you a variety of choices in terms of location, quality and price range. Any property can be purchased by installments or cash. As a practical investor/buyer, you would not really spend millions of cash in a one-time payment. You need to breakdown your expenses starting from the least to greatest in your own convenience. To help you with managing your expenses, there is a governmental institute designated with this specific field.

Qatar Real Estate Investment Authority, a governmental agency that provides a service to new investors that are looking for luxury homes for sale in the selected areas. They provide an investment fund and authorizes national banks to grant access to an investment loan if proven that a client has a minimum of 30% of the property’s total amount by a valid bank statement. The bank will pay the difference of the amount over the total property value over a period of time. (i.e. 5,6,7 years).

Let me breakdown for you a calculation of rent vs. sale over a period of time and the average earnings of an expat to see if it is total worth of the spending.

real estate companies Qatar Doha The pearl-artificial island

Calculations – Properties for RENT in Qatar

Let’s just say that an average rent for a three-bedroom fully-furnished apartment is QAR 16,000 per month and your monthly salary is QAR 35,000. In addition to the rent, you are also paying utilities such as Qatar Cool = QAR 750/month and KAHRAMAA = QAR 300/month. With all of the variables, we can now calculate the rate yearly.

Total Expense: QAR 17,050/month

x

Months of the Year: 12

____________________________

TOTAL:QAR 204,600 per year

Let us assume that you have decided to stay for five more years and that would be multiplied by the yearly rate of QAR 204,600.

TOTAL: QAR 1,227,600 in 6 years

You could actually let that sink in for a moment, you as a tenant would spend this much over a rent for a long-term stay. Others might say that we pay it monthly so it is not a big of a deal, but remember that it is not your property and the rent conditions could change over the leased period depending on the market and the real estate demand. When it comes to worse that the probability of your apartment being sold is high. It is just a security measure that you would take advantage for you and your family.

Calculation: Houses and Apartments for SALE in Qatar

And let’s calculate how the sales perspective works, for example, you saw a three-bedroom fully furnished apartment for sale at the price of QAR 2,650,000.

30% Down payment in your Bank Account:

QAR 795,000 (Qatari Riyals)

Bank Investment Loan: (Property Value – down payment)

QAR 2,650,000 – 30% (down payment) = QAR 1,855,000 (Qatari Riyals)

Residential Sales vs Area vs Property Selling Price

The prices vary depending on the location, size, view and number of bedrooms. Every location has its own unique setting and services that might be convenient for your preference and style. Below is a table that will give you an idea of a price range among locations.

Properties for Sale – The Pearl (Doha)

Type Estimated Ave. Size (sqm.) Price Range
Studio 55 sq.m – 75 sq.m QAR 1,075,000- QAR 1,350,000
1 Bedroom 88 sq.m – 118 sq.m QAR 1,250,000 – QAR 1,700,000
2 Bedrooms 150 sq.m – 250 sq.m QAR 1,850,000 – QAR 3,520,000
3 Bedrooms 180 sq.m – 237 sq.m QAR 2,450,000- QAR 5,500,000
4 Bedrooms 325 sq.m – 750 sq.m QAR 4,250,000 – QAR 11,380,000
Villas (5BR and above) 448 sqm. – 1,100 sq.m QAR 10,500,000 – QAR 41,000,000

House for sale Qatar - The Pearl FGREALTY

Flats and houses for Sale – Lusail City

Type Estimated Ave. Size (sqm.) Price Range
Studio 65 sqm. QAR 750,000 – QAR 1,250,000
1 Bedroom 93 sqm. QAR 980,000 – QAR 1,830,000
2 Bedrooms 155 sqm. QAR 1,355,000 – QAR 3,200,000
3 Bedrooms 187 sqm. QAR 1,955,000 – QAR, 2,550,000

Apartments and Villas for Sale – West Bay (Doha)

Type Estimated Ave. Size (sqm.) Price Range
1 Bedroom 103 sqm. QAR 1,100,000- QAR 1,350,000
2 Bedrooms 165 sqm. QAR 1,820,000 – QAR 2,280,000
3 Bedrooms 273 sqm. QAR 2,100,000 – QAR 2,820,000

Conclusion about Sale Real Estate Market in Qatar

To answer the question if it is worth the time and money buying an apartment? It is totally worth every cent that you spent. Buying a property in this country is more applicable for those who want to stay more in the country as it secures yourself in a long-term future in regards with your status and the life you will be living. Be it furnished or unfurnished, it depends on what you really desire for your family to live in. It could also be turned to an investment if you wish to earn money that will give you the 6% to 8% net return-on-investment.

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