Khalaf Murwih Alidmat
Entrepreneur, Co-Founder and General Manager
QQQ Group
Since 2010, Qatar has been on the path of delivering on the promise of creating one of the most unique and memorable FIFA World Cup™ tournaments, the first to ever be hosted in the region. With that, the road to creating a country that is able, ready and prepared to showcase all it has to offer to the world began.
By balancing economic diversification and the implementation of laws and regulations, Qatar has demonstrated to the world that it is one of the safest and rapidly growing countries in the region, creating the ideal environment for sustainable business and growth on all different fronts.
One of the most exciting sectors to emerge on this journey has been the real estate sector, which over the past ten years, has witnessed astronomical growth and development across all areas in Qatar. This, coupled with a government that has taken the necessary action to rejuvenate the market and make it more attractive for investors, has resulted in a very attractive sales market in the country.
In October, 2020, the Qatari government adopted new legislation loosening restrictions on foreign ownership of real estate in the country and introducing changes favourable to foreign investors.The number of areas where foreigners can invest in real estate has expanded, from three to 16, and the number of non-Qatari residents who can own property has climbed from three to 9 (99-year lease). With new areas open for forien real estate ownership, and new advantages that come along with that, the sale market has seen increased interest, which has introduced the shift from a renters market, to one that focuses on sale.
Given its consistent cash flow, real estate tops the list of the most profitable long-term investments. It is a fantastic strategy to increase wealth because it brings in money from various sources. Over time, rental revenue and real estate values tend to rise, which also helps to enhance cash flow. The advantages of ROI, favourable tax treatment, and scalability are the most significant. You can use scalability to purchase more homes and increase your wealth as you create equity. As a result of positive leverage, real estate offers better returns.
Qatar has continued on the path of great real estate opportunities. In fact, in the first quarter of this year, according to the Real Estate Bulletin published by the Ministry of Justice, a whopping QAR 4,859,712,958 has been recorded in real estate transactions.
The real estate market in Qatar is fueled by a number of variables, such as the country’s high GDP growth and population influx, which are accompanied by employment possibilities and supportive government regulations. It is not surprising that the majority of successful investors prefer to invest in real estate because it is a tangible, reliable, and secure asset.
This article was published as part of the eighth edition of Property Finder Qatar’s Trends Report.
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