Landlords dropping rents for tenants?
So, today, for the first time in my eleven years of living in Qatar, the landlord sent me my renewal notice and offered to drop my rent. Wow. It wasn’t a huge amount mind you, but still, lowered rent?
Every year I have lived here, regardless of where in Doha, my rent has always gone up. Always. This was such a refreshing sign considering the sky-high rents. Has the tide finally turned? Are we going to be able to enjoy more moderate rents in the future?
Interestingly, several tenants are vacating this month. Thus, I’m not entirely sure if it’s the rental market, which has obviously been cooling down, or the situation of this building - either way I’m happy.
Speaking to a friend yesterday, she also mentioned that some fabulous flats at the Pearl which used to be out of financial reach last year, have come down significantly. Rents are a massive expense for expats who are not offered housing with their packages. Thus, a little bit of relief can go a looooong way.
Indeed, since moving to Qatar I have witnessed the rents double. Once upon a time, you could get a fabulous brand new 4 bedroom villa for 7000QR/month... in a great location!
Anyone else have a similar situation? Anyone else renew their leases at an “increase”? Would love to get a pulse on what else is happening.
Would be great if this were a new trend :)
one has to do little bit of bargaining. No body will give away his profit by themself.
Increased to 10% and increased the duration to 17 months lock in period
I'm assuming then that it has to do with certain areas
Hope others will follow!!for me it is 10% increased.It should have formal directive from the government and strict compliance on the part of the owner or realty companies.
My experence is also reduced rent.
I wanted to write:
My landlord/caretaker, increased my house rent by 25% last month,with only 13 days notice!!!
...lucky you.
My landlord/caretaker, increased my house rent 25% last month,with only 13 days notice!!!
I had the same experience last month. The building landlord reduced my rent when I renewed the contract
Rent has not gone down, it is still on rampant uptrend. Lucky for you, I hope other landlord follow suit! Also, decrease in rent, might have contributed to lot of expats recently leaving Qatar for good!
Are you directly dealing with landlord ? Most of the houses in the city are in control of real estate company so it doesn't seems the rent have come down. But it stays as it is. Hopefully, as I read some news before, there are thousands of new houses are going to be available by this year so there will definitely be a change in rental .
It is happening for some time ..........
Congratulations ... Let us hope that others follow suit ..
I suppose the law of supply and demand will finally prevail ....