Lull witnessed in Qatar’s real estate market
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A number of flats and villas which are available for hire have been lying vacant because there are no takers, say the agents. However, the increase in supply has not resulted in a fall in the rentals so far.
"Companies operating in the oil and gas sector are our major customers. Demand from this segment has come down significantly over the past few weeks. This can be a fallout of the global financial crisis, since a number of international companies are also operating in this sector," said a resident, who represents a leading real estate agency in Doha.
He said, the demand had come down by about 40 percent compared to last year. "Last year, during this season, we rented out some 700 flats to a major company in the oil and gas sector. This year, we have not signed a single contract so far with this company," said the agent.
down easily or the near future ... Convince me that someone who makes you pay 10,000 now will come to you asking you to pay 5000 or 6000 in the name of decreasing the rate and winning the hearts of the people who are renting the property.
Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment. (Gautama Buddha)
From what I understand there's never been a situation where rental rates fall, so I wouldn't hold out any hope.
no takers [I wish that would happen soon] but because they are not getting paid the prices they want. I know a compound that is being laying down there for the last 2 years because no one accepted to pay them the amount they want and they prefer to keep it like that.
I saw her also one AD for almost 3-5 months on QL about 3 Villas in Abu-Hamour with a fixed price every time and it seems that the guy was looking desperately to rent it but he does not want to reduce the prices.
Anyway, I'm not seeing that ad anymore, guess he did in the end rent it. It was quiet annoying to see the same ad every now and then whenever you will open the ads section.
Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment. (Gautama Buddha)
un-real estate.. lol :)
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keep fingers crossed, soon the unreal estate bubble should burst!!
sure.. Flammate.. RIGHT NOW!! ...I can see it from my window!! they are falling.. like Niagara..
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“You become responsible forever for what you have tamed”. Antoine de Saint-Exupéry
Can we expect a fall in house rents now?
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Bravo, bravissimo!