Now that's a question that more people should have asked before buying there in the first place!!!! It's beyond belief that so many people purchased units at ridiculous prices on The Pearl when the market was high. Buyers paying $500,000 and more for one bedroom units....fools. This is Qatar, not London or New York. No one ever thought, 'Who will live on here when it's finished....and that was when Lusail was still estimating around 350,000 residents.
To answer your question, I wouldn't recommend buying as an investment in The Pearl at the moment. If you're going to live there and have a living allowance to spend, it works, as long as you buy at the right price. The rent/repayment ratio doesn't match up, especially once you take in to consideration the service charges.
The cracks are already showing in many of the towers, and my concern would be what condition they will be in 5 years, 10 years down the line....I'd expect to get a very high service charge bill in 5 years to repair a crumbling exterior.
If you're not going to actually live in it, buy elsewhere in a safer market. If you do want to get a capital gain on your property here, you may be waiting a LONG time. Basic supply and demand.
Now that's a question that more people should have asked before buying there in the first place!!!! It's beyond belief that so many people purchased units at ridiculous prices on The Pearl when the market was high. Buyers paying $500,000 and more for one bedroom units....fools. This is Qatar, not London or New York. No one ever thought, 'Who will live on here when it's finished....and that was when Lusail was still estimating around 350,000 residents.
To answer your question, I wouldn't recommend buying as an investment in The Pearl at the moment. If you're going to live there and have a living allowance to spend, it works, as long as you buy at the right price. The rent/repayment ratio doesn't match up, especially once you take in to consideration the service charges.
The cracks are already showing in many of the towers, and my concern would be what condition they will be in 5 years, 10 years down the line....I'd expect to get a very high service charge bill in 5 years to repair a crumbling exterior.
If you're not going to actually live in it, buy elsewhere in a safer market. If you do want to get a capital gain on your property here, you may be waiting a LONG time. Basic supply and demand.