Report: Doha rentals up 16%
A lack of supply in the residential market due to increasing expatriate inflow has led to an average annual rental increase of 16%, says the latestAsteco Qatar Q3 2013 report.
On average two-bedroom units in The Pearl Qatar development have increased by 9% compared with Q3 2013 and 16% year-on-year.
A two-bedroom apartment now costs on average of upwards of QAR 14,000 per annum, closely followed by similar sized apartments in West Bay, which now command rents of up to QAR 12,000 per annum an average increase of 6% which has been consistent over the past year.
Jed Wolfe, Managing Director, of Asteco Qatar, said:
“Leasing rates have most notably increased in The Pearl Qatar, where availability will continue to be scarce until the completion of a number of new towers, currently under construction
Availability of good quality villas is also limited, with rental increases apparent in most locations across Doha.
On average West Bay Lagoon is now the most expensive area to lease a four-bedroom villa at QAR 27,000 per annum, up 16% year-on-year, while Ain Khalid and Al Waab, saw annual increases of 18% and 15% respectively.
Read the rest of the report here: privatesectorqatar.com
Image: Muhammad Kamran Qureshi in the QL Flickr Group
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qqforever young -Perhaps they are going to put up all the guys from the industrial area to the Pearl to make it full. You know this is a generous place
When I moved to Dukhan 8 years ago how they mocked me. Well now, with the highway, beautiful house and garden rent and utility free and beach and pool clubs, they want me to sign them in. How things have changed.
I forgot, to comment on the picture above. It shows a very welcome busy evening scene, apart from the traffic jams not exactly how it is, isn't it ?
Hahaha, ever visited the Pearl ? 85% of the (quality) flats are empty; BTW where do you find people that will move to Lusail that will accommodate 200,000 people ?
Want to reduce traffic - get rid of all real estate agents and middle persons
Pathetic perhaps but where there are idiots willing to pay for a 'luxurious' apartment on West Bay, there are greedy fat estate agents taking a slice. Its expats lust for the high life that gives these estate agents the tools to raise prices.
Its not about paying the amount but the quality of all apartments in Doha really pathetic.
.. very nice and I suppose they did excellent research to come to all this fine statistics but how am I going to tell this to our Asian expatriates many of whom get by with less then Qr1000.00 a month. Perhaps they might have to leave in the parks and gardens as they dong get paid in a year what this rental companies quote in a month or is it just about polishing it up a little to appear like New York real estate
A report generated by a real estate company that has a stake in driving up rents. Lots of apartments in the Pearl are unoccupied or are they trying to tell me the influx of Indian labourers is driving up the rents on the pearl?
mentioned rate is not per annum, but per month. i guess so...
Great news for those blood sucking real estate agents.