Qatar property prices, rents to shoot up
Property prices and rents hit record highs before and after the major event like World Cup
Impact of FIFA World Cup 2022 on property prices and rents will be even greater in Qatar due to its relatively small population and land mass, according to a new report.
"It is difficult to accurately attribute the impact of a major sporting event, such as the World Cup, on real estate values/rentals in the host country/city. It could be argued that the impact on pricing/rents in Qatar will be even greater due to its relatively small population and land mass when compared with the other countries listed above. Barcelona's population alone is comparable to the whole of Qatar in terms of size at approximately 1.6 million people," Mark Proudley, Associate Director at DTZ said in a report.
According to DTZ, real estate prices in Paris are thought to have escalated by as much as 55 per cent over a one-year period before and after the 1998 World Cup, with apartments close to some of the stadia recording price increases in excess of 100 per cent over the same period. The three Olympic host cities of Athens, Sydney and Atlanta all outperformed their national markets in the five years leading up to the games. In Sydney the differential was 11 per cent, in Athens nine per cent, and in Atlanta six per cent.
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read more here: http://www.zawya.com/story.cfm/sidZAWYA20101216035112
dont worry about the property price or rental as mayan said end of world in 2012, 10 years earlier before they manage to raise the price.....
Exactly Nic and thats the problem Qatar will face, as the saying goes be careful what you wish for, now they have the cup bid they are forced to deliver, but at what cost? Interesting times ahead, glad I'll be outta here by then, the civalised Dubai awaits me thinks!
Raven1968,
Lol... will anybody be here in 2023? After all by then, everything will be over built! The construction industry will be inactive and all the bulk of the expat and migrant workers will be elsewhere, leaving the country to the locals who have their own properties and wont need to rent!
Rents will be darn cheap in 2023...LoL
jackmohan2007,
the risk will be greater after 2022, as it was after 2007.
Yeah Nic... thats the guy... and there are many like that in Qatar.... stuck without any escape.
Many more will happen between now and 2022...
properties are already affected. Someone was buying the apartment in Pearl. THe contract was signed somewhere 1 week before WC2022 announcment. The person applied for the mortgage(only 50%, another 50% he was going to pay in cash). While he was waiting for the paperwork to be done, Qatar won WC2022, and the guy simply was asked to pay price 30% higher for the same apartment. Contract was terminated.
happygolucky,
its ok, we are all kidding here ;)
Nic...lol... Was just kidding... but sounds like I got the advisor part right... rest I leave to others to unlock...:)
jackmohan,
Lol...wasn’t that guy from Belgium and was then rescued by friends' private yacht?
we'll have to compare notes :O)
I have a few inklings as well Brit, but who knows if I'm right.
I have an inkling, but I am a gentleman....
happygolucky,
i am paid to unlock and stimulate critical thinking and my mission is not yet completed.
Me thinks Nic took a Bank Loan... lost his job cant exit Qatar now :(
Pilgram,
lol... keep wondering ;)
He is the advisor, sounds critical here so that no one blames him.....:)
Ahhh one of the great mysteries of Qatar Living. What does Nic do that he can't leave Qatar :)
Property is vaccant as the rents are high...
Will it sell out faster if the rents are increased?
Great Expectation.... Greater Logic...
Actually recession would have left Qatar untouched had it not been for this property crises that nobody wants to admit.
Formatted Soul,
I knew you would understand me ;)
ok..no problem..:)
Formatted Soul,
If I told you why, you would see that it makes sense, but I am not allowed to tell you here ;)
Nic.. unlike us, normally people from the west wont be living in one place for too long unless they have some bonding to the country..other than job...even though you are not happy with the system here..how come you are still here...:)
happy,
For the Asian Games, only rents went up.
FS,
I wish I could follow you.
Even better, I wish that all those who don’t want to be caught in the madness that, is unavoidably going to come, will find an alternative solution elsewhere before the unbearable chaos starts.
(I was here for the Asian Games and wish I will never experience here a similar chaos again).
Expect amazing!
high salaries? oh how we all wish lol!!
I'm going to be laughing at you all from Abu Dhabi when the rents here go higher than there! LOL ;)
I wish I could leave Qatar and live in some less populated/developed country with a reasonable salary and lead a normal peaceful life..:) far from the madding crowd...
Salaries should also hit record highs to compensate... (we are proud supporters of Qatar winning the WC... we deserve it...isnt it...no???)