6 key reasons why foreign direct investment into Qatar’s property market is blossoming
Considering buying property in Qatar? Discovering why real estate investment in Qatar is gaining momentum compared to other international markets could turn your maybe into a resounding YES.
After all, Qatar is the most inspiring economy in the Middle East. Its consistently high GDP and government policies that support an influx of population are just two aspects driving foreign direct investment (FDI) into Qatar’s real estate market.
Residency visas for expats
The Office for Non-Qatari Real Estate Ownership was recently established in Doha, Qatar, according to Cabinet Resolution No.28 of 2020, to support aspiring Qatar expats.
International individuals and their immediate family can now legally work and live in Qatar after securing a modern yet architecturally beautiful new home in the new, developing areas mainly around Doha.
Key facts:
- Business sponsorship is no longer needed.
- A $200,000 property purchase secures temporary residence for the term of ownership.
- A $1 million property investment secures the benefits of permanent residence, i.e. highly subsidised school and healthcare fees.
25 freehold zones with luxurious properties you can only find in Qatar
The Pearl Qatar is a popular community among expats who enjoy living near all essential facilities needed for a conservative and culturally rich lifestyle. The luxurious properties on offer are also growing in popularity among international property investors.
What to expect:
- Exquisitely landscaped parks and open areas
- Countless dining and leisure opportunities
- Beautiful marinas
- Pristine beaches
- Upscale shopping
Property prices are set to increase in new communities
Whilst property prices continue to remain stagnant throughout most of Qatar due to the ample property supply, property prices in these new communities are set to increase as more residents move in. Owner investors can therefore seize the opportunity to buy now whilst property prices are remarkably low.
The option to sell for more than initially invested in the future or charge more for rent over the coming years for consistently high return on investment are fantastic incentives for new and experienced international investors.
Tax free property market
Moreover, international investors and expats in Qatar do not need to pay any property purchasing taxes. In comparison, the property tax rate in Spain is around 24% for non-EU nationals.
Host of internationally renowned events
Alongside the government policies and vibrant local lifestyle on offer attracting FDI, tourists and new workers are expected to flock to Qatar for the Fifa World Cup hosted here in 2022.
This is expected to inspire further FDI as international investors can purchase new property and gain the interest of thousands of new international workers ready to enter the country any time soon, with many expected to reside here for good. In addition, short-term rentals for tourists is also a fantastic opportunity for investors.
A business opportunity powerhouse
Approved by the cabinet last month, full foreign ownership of listed Qatari companies is expected to attract future international business investment — especially from the EU, where Qatar is already a popular investment choice.
The scheme is planned to encourage around $1.5 billion into listed businesses and several equities on the Qatar Stock Exchange, bolstering local business success and economic growth.
Yet another reason why Qatar tops the list for intuitive international investors—new and experienced. And according to the World Bank, Qatar’s economy is set to grow by 3% in 2021 and is the best among GCC countries.
We welcome your questions regarding foreign investment in Qatar. Please call or WhatsApp our property investment consultants at The Pearl Gates in Doha on (+974) 5086 7711 for bespoke advice on how to best start your property investment journey.