Rents may fall further, say experts
Experts and investors feel rents in Doha may fall by 30% in the near future, according to a report in the local Arabic daily Al-Arab.
The rise in the number of apartments available for rent especially after Ezdan real estate completed the construction of four townships in Al-Wukair district including the 2,500 units that are to be inaugurated at the end of this week is the main reason for the expected fall in rents, says the report.
It was earlier predicted that a 10% increase in rents announced by another major real estate firm for its apartments last week would lead to a matching increase in rents in general. But that has not happened because of the surplus of apartments which has reversed the supply and demand situation.
Ezdan is also offering the incentive of six months’ rent free for those who sign up for a year.
During the last year rents had gone down by 5% according to a statement published by the statistics department.
“Ezdan’s initiative will stabilise rents and prevent any increase,” said Sheikh Fahd bin Hanad al-Thani who owns a real estate firm. He also appealed to Ezdan to spread out to other locations such as Gharafa and diversify its products.
The Ezdan villages cater to 25% of the market requirement. But the owners of apartments in Doha city are reluctant to consider any reduction in rents. However they may soon have to change their policy, said the owner of another real estate firm.
Have you factored the driving time to & from Doha in your calculations?
;D
Yes Extra Free months Exdan offer 6 months free for their QR 5300 rental + QR 1800 for W/E. That is QR 65.400 in total. worked out be QR 3,633 for a month. Very good deal :)
Whenever the extra supply of houses; the Real estate Co. offer extra free months......without reduction in rents.
been hearing this news every year but i dont see any decline in the rate of flats especially in the central districts.
Will continue to be stable for one more year...
until and unless there is demand -------no fall is there
so far all new towers in West Bay eventually get occupied, sooner or later.. landlords don't offer any deals.. every couple of months new tower is raised, couple of months later it gets completely occupied... I have heard that 200 persons are arriving to Qatar for work every day . To assume that only 30-40% of them are professionals and will be looking for independent accommodation, it's still impressive: 60-80 persons start looking for their new home daily. ....
I don't believe rent will fall by 30%.. it's good if it will remain steady..
"Due to the cost of leaving many families left"
Hooray. Less traffic :)
ajnajn desperate for points ??
Ezdan flats!!!! you call them flats?
.....apparently victory ur aware of masses of locals who rent houses jus like middle income expats do tht no one has heard of....
jus like tht one eyed einstien put it.... its un organized planning and targeting a market tht is really small.... coupled with tighter restrictions on RP visas all i can say is theres gonna be a whole lot more ghost towns.... or for tht matter villas and apartments getting coverted into hostels.....
check out barwa village.... nuf said!!
cant be compared with rest of Doha....
With salaried increased for Qatari's and maintenance cost, I doubt rent market will fall any further.
Another reason is MOI rejected so many family RP's. I heard that 100,000 family RP's are pending. Due to the cost of leaving many families left
Another reason is MOI rejected so many family RP's. I heard that 100,000 family RP's are pending. Due to the cost of leaving many families left
Another reason is MOI rejected so many family RP's. I heard that 100,000 family RP's are pending. Due to the cost of leaving many families left
Another reason is MOI rejected so many family RP's. I heard that 100,000 family RP's are pending. Due to the cost of leaving many families left
Another reason is MOI rejected so many family RP's. I heard that 100,000 family RP's are pending. Due to the cost of leaving many families left
Another reason is MOI rejected so many family RP's. I heard that 100,000 family RP's are pending. Due to the cost of leaving many families left
I hope so!!
This is called 'thoughtful planning'!