Doha Real Estate

Real estate in Doha is big business these days, and is fast becoming one of the staple industries in the Qatari economy.

In 2004 the law was changed so that foreigners could purchase land and property in Doha, which was previously reserved for Qatari residents. Although non-Qatari’s can only purchase in certain areas. You can purchase outside of these areas, but a Qatari must purchase at least 53% of the property.

The influx of interest from the foreign market has meant that many large developments are being constructed, some the size of small cities.

The standard of living in Doha is very high, and is easily on par with other metropolitan cities such as their neighbor Dubai. The success of Dubai’s property market in recent years has led people to start purchasing in Doha as it is said to be the next up and coming hot spot for a property boom.

As Qatar’s economy continues to boom, thousands of expatriates choose Doha as a place to live and work. Many of the accommodation available in Doha are rental properties which are suited to the many temporary workers who come to Doha throughout the year.

If you are looking for a rental property in Doha there are a tremendous amount of options available to you. Many expatriates travel to Qatar alone, and so apartments or compounds are a popular option over larger detached villas.

Due to the large turnover of foreign workers in Doha it is never very hard to find a place to rent, and the process is very similar to that in most Western countries. Prices are continually on the rise for both renting and purchasing homes in Doha, so this take up a significant part of your pay check.

There are many compounds in Doha specifically designed for foreign workers. These are different to apartments in that they are generally a cluster of low-level apartment blocks or small bungalows. There is a community vibe to them, and it gives you an opportunity to mix with a very cosmopolitan group of people. The large compounds also have great facilities that may include a swimming pool, gymnasium, spa, restaurants, and play areas for children. The main disadvantage is that there is often a lack of privacy and people often become disconnected from the outside world.

There are a variety of different types of accommodation available, so naturally prices vary quite drastically. For a good standard 1 bedroom apartment in Doha expect to pay an average of US$1,500 - 2,500 per month up to $4,500 + a month for a 4 bedroom villa in the city‘s outskirts.

Serviced apartments can be up to 50% on top of the average rental prices, and 30% extra for furnished homes. Serviced apartments include cleaning, laundering, and linen changes.

There are several large world class developments being built in Qatar, the largest and most which of which is The Pearl, situated 20km north of Doha. This massive US$2.5 billion project is being constructed on a man-made island around a former pearl diving site and is expected to be completed in 2011. Foreign investors were quick to snatch up properties on this island, and prices vary from approximately US $112,000 for a studio apartment to over $1 million for a villa. The Pearl will be home to over 30,000 residents, and features hotels, restaurants, bars, and 3 marinas which together can hold over 1400 boats.

There are other similar developments going up in and around Doha that foreigners can purchase. West Bay Lagoon is situated 8km north of Doha at the entrance to The Pearl and south of another large development - Lusail City. The development is built around a series of man made lagoons, and contains hundreds of buildings including private accommodation, luxury hotels, and a commercial center.

There is intense competition between developers in Doha to create the best and most fabulous homes, and the developers have a lot of money to spend. This means that all of the new buildings going up are flamboyant, impressive and won’t fail to impress.

Many people purchase properties in Qatar as investment properties, and many are purchased before they have been completed.

One problem deterring potential buyers from Doha real estate is the lack of consumer rights and holes in the legal system in regards to contract laws. It is best to thoroughly check through all documents and speak with a lawyer before committing to anything financially.

Qatar is a fascinating place to live, and is set to become even better with new developments and facilities going up seemingly every day.