if for whatever reason you have bought property and need to leave qatar you can always convert your mortgage into a non-resident mortgage. The bank will increase your interest rate to 9.25% and will finance 65% of the loan although with me they were willing to leave it at 80% and they will negotiate as they do not want to lose your business. I purchased two apartments in the Pearl (2BR and 3BR) -- one back in January of 2005 at 7,000QR/sq. m. and one in December of last year at 10,000QR/sq. m. so obviously I put my money where my mouth is. I am do to receive the 2BR in October and the 3BR in December but who knows what delays will be there. One cool aspect is that UDC -- Master Developer -- is in the process of establishing an asset management division that will look after the units for a fee and this would include leasing, maintenance, registration etc...No headaches! I will be off to Dubai on a 4 year contract in August so I am bummed that I won't be able to live there but who knows, maybe i will be back once the contract expires? By then, the Pearl should be at it's peak
if for whatever reason you have bought property and need to leave qatar you can always convert your mortgage into a non-resident mortgage. The bank will increase your interest rate to 9.25% and will finance 65% of the loan although with me they were willing to leave it at 80% and they will negotiate as they do not want to lose your business. I purchased two apartments in the Pearl (2BR and 3BR) -- one back in January of 2005 at 7,000QR/sq. m. and one in December of last year at 10,000QR/sq. m. so obviously I put my money where my mouth is. I am do to receive the 2BR in October and the 3BR in December but who knows what delays will be there. One cool aspect is that UDC -- Master Developer -- is in the process of establishing an asset management division that will look after the units for a fee and this would include leasing, maintenance, registration etc...No headaches! I will be off to Dubai on a 4 year contract in August so I am bummed that I won't be able to live there but who knows, maybe i will be back once the contract expires? By then, the Pearl should be at it's peak