New law on real estate brokerage to be introduced
It has been disclosed that a new law that will limit the practice of real estate brokerage to Qatari citizens is all set to be implemented.
According to the local Arabic daily, Al-Sharq, the departments concerned have prepared a draft law, comprising 36 articles, to regulate real estate brokerage, real estate companies and offices.
When issued, present agents will be given a grace period of six months to comply with the law. Brokers have to acquire a licence, valid for two years and renewable.
The law stipulates penalties for violators such as three months in jail and a fine of QR100,000 or both.
(Cover image courtesy: Gary McGovern)
Perdian got the idea, Nido78 welcome to Qatar.
Nido: How will this happen ?
Yes only for locals, when do expats benefit from anything here.
Why should we believe you? Are you a prophet?
Believe me guys? Villas will go down at least 60% and flats between 35 n 40%
so meaning - rents might skyrocket even further?
Is it saying that only Qataris will be allowed to be the brokers
It only applies to Qatari citizens!
Yes, The system needed to be stream lined for the recent times ........... nice step ....................