{"id":5752,"date":"2024-05-29T10:24:52","date_gmt":"2024-05-29T06:24:52","guid":{"rendered":"https:\/\/www.propertyfinder.qa\/blog\/?p=5752"},"modified":"2024-06-07T10:45:31","modified_gmt":"2024-06-07T06:45:31","slug":"market-watch-stay-updated-on-qatars-real-estate-trends-and-insights-in-2023","status":"publish","type":"post","link":"https:\/\/www.propertyfinder.qa\/blog\/ar\/market-watch-stay-updated-on-qatars-real-estate-trends-and-insights-in-2023\/","title":{"rendered":"Market Watch: Stay Updated on Qatar\u2019s Real Estate Trends and Insights in 2023!"},"content":{"rendered":"
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Curious about the Real Estate market trends in 2023, Property Finder has compiled a comprehensive report to give you a complete overview of the market.<\/p>\n
The full version is just out; it includes the top highlights and insights of Qatar’s markets to help you have a quick yet data-based vision over the last period; let\u2019s get into more details!<\/p>\n
Highlights<\/p>\n
Qatar has become one of the world’s wealthiest economies with a GDP per capita of $75,000<\/strong> in 2023. Market Performance<\/span><\/strong><\/p>\n In 2023, new building permits in Qatar decreased by 11%<\/strong> to 7,912, down from 8,883 in 2022. This increase in 2021-22 was due to a backlog from COVID-19 and a new law allowing foreign companies to own property.<\/p>\n Property sales declined, with transactions dropping to 2,579<\/strong> from 4,184<\/strong> in 2022, and total value decreasing to 16,703 QAR<\/strong> from 21,204 QAR<\/strong>. Al Rayyan had the highest share of new permits at 26.7%<\/strong>, followed by Al Doha at 20.3%<\/strong>.<\/p>\n Al Doha recorded the highest sales value at 6.8 billion QAR<\/strong>, 40.8% of the total. Al Rayyan had the most transactions at 945, 26.4%<\/strong> of the total. Vacant land was the most common property type sold, at 50.5%<\/strong> of transactions and 38.6%<\/strong> of value.<\/p>\n <\/p>\n <\/p>\n Market Prospects<\/strong><\/span><\/p>\n Ongoing Projects in Qatar<\/strong><\/p>\n Launched Projects in 2023<\/strong><\/p>\n <\/p>\n Delivered Projects in 2023<\/strong><\/p>\n <\/p>\n Market Trends<\/span><\/strong><\/p>\n Sales in 2023<\/strong><\/p>\n Sales Market Trends for Apartments and Villas<\/strong><\/p>\n Sales Market Trends for Apartments in 2023<\/strong><\/em> <\/p>\n Sales Market Trends for Villas in 2023<\/strong><\/em> <\/p>\n Rental Market Trends for Apartments and Villas<\/strong><\/p>\n Rental Market Trends for Apartments in 2023<\/em><\/strong> <\/p>\n Rental Market Trends for Villas in 2023<\/strong><\/em> <\/p>\n For more insights and data, click the link below to get the full report<\/p>\n
\nThe nominal GDP is expected to reach nearly 840 Billion QAR<\/strong> by 2024 and almost 1,366 Billion QAR by 2028.
\nThe real estate activities and construction sectors contribute significantly to GDP, though their share is expected to decrease slightly by 2028.
\nThe establishment of the Real Estate Regulatory Authority (RERA) and the launch of the Qatar Real Estate Platform are important initiatives to regulate and digitise the real estate sector.<\/p>\n\n
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\nApartment prices jumped 36%<\/strong> and villa prices increased 11.4%<\/strong> in H1 2023 compared to H1 2022.<\/li>\n
\nThe average listed price for apartments in Qatar increased by 8%<\/strong> in 2023 compared to 2022.<\/p>\n
\nIn summary, villa sales prices across Qatar saw a 5%<\/strong> overall increase in 2023, with larger homes in certain high-end areas like Al Thumama, Al Dafna, and Pearl Island experiencing particularly strong price growth.<\/p>\n
\nOverall, the apartment rental market saw significant price contractions, but certain areas like Al Sadd, Lusail City, and West Bay maintained stronger ROIs, indicating continued investor interest.<\/p>\n
\nThe villa rental market saw mixed performance, with West Bay Lagoon 3-bedroom villas bucking the overall downward trend, while larger villas in areas like Al Gharrafa and Al Waab saw more significant declines.<\/p>\n