Brick in Quatar: the latest news
As is now known, even in a critical period like the one we are experiencing, we at Realigro want to inform you about the trend of international real estate. Indeed, now more than ever, it is our duty to share with our readers everything that can facilitate the '' purchase of a property or, simply, the size and changes in the value of the brick worldwide. So, without getting lost in chat, today we decided to focus on a very special and unique real estate. That of Qatar. Let's see, therefore, how the real estate market is moving and the measures taken during and after the Covid emergency.
We assume that, since the last survey, prices in Qatar seem to have increased. An increase of 2%. Especially in the second quarter of the current year. However, this is certainly not a sign of recovery. Rather. The local real estate market is still weak. Despite the efforts of the government. Yes, because in this state, the government's attention to mitigate the difficulties caused by the pandemic emergency was exemplary.
Just to mention a few speeches, we recall the approval of law number 16 (date 2018). With this act, the Government has increased the number of areas defined as '' free ownership '' from 3 to 10. This means that foreigners can also buy real estate in the following areas: The Pearl, West Bay Lagoon and Al Khor, Rawdat Al Jahaniyah, Al Qassar (Area 60), Al Dafna (Area 61), Onaiza (Area 63), Al Wasail (Area 69), Al Khraij (Area 69) and Jabal Theyleeb (Area 69).
With this initiative, already in 2018, a sudden increase in foreign demand was assumed. Increase that, indeed, did not take long to arrive. Furthermore, the residential offer in the first months of 2020 reached 300,000 units. Thanks to the completion of another 900 apartments, 500 villas and other projects blocked due to Covid-19. The economic block, unfortunately, also affected an important and always active slice of local real estate.
That is linked to rents. As is known, the rental market tends to be less affected by any critical situation. A reduction in demand in this area undoubtedly marked a serious blow to the entire economy of Qatar. When will there be signs of recovery? Will there be the possibility of returning Qatar to being one of the lands where you can relocate to a magnificent home? According to statistics, the Qatari economy is expected to lose about 4 percentage points.
But, when you consider the dramatic situation around the world, this is a fairly small loss. To find out more about this topic or if you are curious to find out how world real estate is evolving ... well you already know what to do! Stay tuned to our portal and, every day, we will guarantee you news from all over the world!
We assume that, since the last survey, prices in Qatar seem to have increased. An increase of 2%. Especially in the second quarter of the current year. However, this is certainly not a sign of recovery. Rather. The local real estate market is still weak. Despite the efforts of the government. Yes, because in this state, the government's attention to mitigate the difficulties caused by the pandemic emergency was exemplary.
Just to mention a few speeches, we recall the approval of law number 16 (date 2018). With this act, the Government has increased the number of areas defined as '' free ownership '' from 3 to 10. This means that foreigners can also buy real estate in the following areas: The Pearl, West Bay Lagoon and Al Khor, Rawdat Al Jahaniyah, Al Qassar (Area 60), Al Dafna (Area 61), Onaiza (Area 63), Al Wasail (Area 69), Al Khraij (Area 69) and Jabal Theyleeb (Area 69).
With this initiative, already in 2018, a sudden increase in foreign demand was assumed. Increase that, indeed, did not take long to arrive. Furthermore, the residential offer in the first months of 2020 reached 300,000 units. Thanks to the completion of another 900 apartments, 500 villas and other projects blocked due to Covid-19. The economic block, unfortunately, also affected an important and always active slice of local real estate.
That is linked to rents. As is known, the rental market tends to be less affected by any critical situation. A reduction in demand in this area undoubtedly marked a serious blow to the entire economy of Qatar. When will there be signs of recovery? Will there be the possibility of returning Qatar to being one of the lands where you can relocate to a magnificent home? According to statistics, the Qatari economy is expected to lose about 4 percentage points.
But, when you consider the dramatic situation around the world, this is a fairly small loss. To find out more about this topic or if you are curious to find out how world real estate is evolving ... well you already know what to do! Stay tuned to our portal and, every day, we will guarantee you news from all over the world!
