the Pearl Project
By Don Corleone •
does anyone in this forum bought an appartment in the pearl or at least did some inquiries. i am planing on buying an appartment at the pearl, i thought instead of paying 15k for rent i can pay it as an inststalement for the bank. I am not thinking about it as an investment or speculation, but i dont think that prices will go down if not up. it would be nice to share with this topic and give me some insight .
did you invest in PEARL?
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even if the the project flies, and is successful for the first few blocks and they keep building, you will be living in an on-going construction site until 2050. The master plan is just too ambitious to beleive that it can be supported by the current or future population of Doha...
Moudir
That was the other BIG factor for me Ahmd44. So much going on in Qatar just seems like smoke and mirrors. I think ego has more to do with a lot of decisions here rather than making decisions based on business.
The beautification brainfart here of tearing down peoples shelters, displacing the working class, and the ripple effect that has the average rentals increasing 83% over the last 2 years based on supply and demand leaves me shaking my head. There's just too much self-interest here that kills the spirit of communities.
nothing
Just wondering how you know the story behind.
I would wait on Pearl because its overpriced and over-hyped for now, dont be fooled by the computer simulation of how the place will look, the sea wont be as blue and you probably wont feel very comfortable diving into the sea from your front yard!!
They are having lots of trouble selling the first two buildings!! Thats two building of a planned MANY!!
Mark my words the Pearl will be downscaled majorly just like all similar dream projects before it. I am willing to even go as far betting that it will be downscaled to the two bulding they are having trouble selling out now!!
I've looked into it and considered it but they won't be ready for another 2 years. I'm only committing to another 2 years for now so I've held off. I'll revisit it in the summer next year to see how the rental situation is then. If rents stay the same and it looks like there will be high demand to rent there, you can make a nice return. The price per square foot isn't that bad for the units either(approx $300 CAD/sq ft). Cheaper than in Calgary right now. There's just too much square footage though for the 1 and 2 bedrooms, which makes the prices expensive. They need to have the choices and variety like in Dubai.
If the new towers have 2 bedroom flats in the 1,000 to 1,2000 square foot range, there may be more interest as this would put a 1,000 sq ft 2 bedroom flat at 1 mill. QR.
There's thousands of proper flats coming on the market next year in the West Bay area so it'll be interesting to see the prices and demand for these units and how it will affect the overall market.
why would you pay so much in rent? rent is suppose to go down and an average 2 bdrm flat goes for about 7500QAR presently.