Qatar’s real estate market positively adapts for buyers after 2020’s uncertainty
2020’s pandemic uncertainty influenced property buyer and investor preferences as we entered the new year, with many opting for more spacious environments and easier, safer ways of buying property in Qatar.
The ultimate questions are: what are the Qatar real estate market’s greatest lessons from 2020? And how is it adapting to benefit its buyers, property investors and aspiring expats, as well as itself?
Transforming digitally
Qatar’s digital agenda is seeing global giants like Microsoft building a cloud data centre in the country and Qatari-based Meeza building its fourth data centre in Doha — both due for completion during 2021. PropTech, including virtual viewings, is becoming more readily available, fulfilling residents’ desire for a safer buying journey.
More space at home and work
Moreover, a rising number of buyers are requesting more spacious areas for working from home or returning to the office. Residential property developers are thus reimagining living areas with the need for more space in mind.
Co-working spaces are also on the up, with developers creating the workplace of the ‘new norm’ by offering companies ‘professional distance’.
State-of-the-art communities engulfed in greenery
Additionally, new state-of-the-art communities with luxurious homes and substantial open and green spaces are growing in Qatar. For instance, the stunning man-made Island, The Pearl, benefits from a more distanced and safer environment for families. New recreational and entertainment venues and essential facilities are being constructed close to home.
Cleaner and safer environments
Without a doubt, clean and safe environments top the list of buyer and investor preferences, and we expect this trend to continue for the foreseeable future.
Developers have the opportunity to innovate with, for example, touch-free elevator buttons and taps and automatic car plate number recognition, enhancing customer satisfaction and upgrading facilities — two market focuses for 2021.
New investment laws and incentives
Following October 2020’s new law, foreign nations can buy property in Qatar and gain residency more easily, with health care benefits and no tax on money transfers abroad, when meeting certain buying criteria in allocated communities.
Incentives for locals such as more mortgage options are also making way, with select realty companies offering payment plans spread over months as an alternative to lending.
Qatar has paved its way as a more digital and safety focused nation during the pandemic. The continual enhancing of infrastructure and amenities in properties for sale in Qatar is expected to increase buyer demand this year and up to the 2030 Asian Games hosted in Doha.
Positive signs already show buyer demand, with property transactions exceeding QAR15 billion in the six months leading to February 2021.
If you are interested in calling the stunning nation of Qatar your home, we at The Pearl Gates offer flexible payment plans on apartments for sale in Qatar. We would be happy to walk you through your options.