Residential rental rates in Qatar to witness upward revision in 2010
Amidst the new supply of apartments, residential rental rates in Qatar are projected to witness upward revision by 2010 as the two-year rent freeze lapses, according to a recent study conducted by Global Investment House. In line with this, LifeStyle Homes and Properties, the renowned and reputed real estate sales and marketing consultancy in Qatar, has expressed its optimism about the continuous growth of the real estate market in the country, further stating that the completion of new residential buildings in and around Doha stand as testament to the strength of the local property market.
As developers focus on the timely delivery of high quality, value-added projects, and banks improve in managing the risks associated with over exposure to the real estate sector, genuine buyers looking at the Qatar market are steadily outnumbering speculative investors. Furthermore, the Qatar Government’s efforts to create a more regulated, transparent, and fundamentally sound market is generating numerous attractive opportunities for investors in the long term, thereby driving the demand for reliable property services to help customers make the best investment decision.
“The Qatar real estate market remains vibrant amidst the challenges posed by the global economic crisis, and as the pioneer real estate sales and marketing consultancy service provider in this market, our goal is to provide rental consultancy and specialised services to address end-users’ property requirements,” said Arron Browne, Sales and Marketing Director, LifeStyle Homes and Properties. “Part of our strategy is to constantly monitor the market to be able to provide our clients with tactical market valuation and marketing advice, for which we utilise the full extent of our resources that determines the risks and benefits of our client’s potential investments.”
While the initial panic created by the economic crisis led to selling of some properties, the value of high quality projects in Qatar are expected to remain higher as opposed to the rest of the GCC countries. It is also forecasted that the beginning of ‘handing over’ apartments on The Pearl-Qatar will act as a driver to increase rental rates, which will in turn lead to a healthier market and increased consumer confidence. With a wide range of turnkey real estate solutions in its portfolio, LifeStyle Homes offers market-centric services, support and advice to ensure that investors' properties within a highly stable market will continue to yield high returns.
“We know that customers have the money to invest and it is only a matter of providing them with the right advice on which investment can provide them with the highest returns. With the Qatari market posing exemplary potential to become the leading regional economy, we are committed to steering customers to the right direction, which will result in high consumer satisfaction levels and ultimately, contribute to the continuous growth of Qatar as a mature real estate market,” concluded Browne.