Qatar will have 25,000 new housing units by end of 2015
An estimated 25,000 new housing units are expected to come on the market by end of this year driven by rising demand, says a real estate development company.
The demand for housing is forecast to grow between 20 and 25 percent in the second half (H2, July to December) of this year, according to Al Asmakh Real Estate Development Company.
"The demand for housing has been on an upswing," the company said in a report. The rents of furnished apartments have already gone up by 15 percent in the first half of this year (January to date, as H1 closes on June 30) as compared to H1 of 2014, said the report.
The company, which is a major real estate developer, said an estimated 100,000 new housing units will be added to the existing stocks over the next four years.
The report did not, however, say how the rent scenario as regards housing will play out in the next four years. It, though, hinted that rising demand will continue to spur housing development inspired by FIFA 2022 World Cup-related infrastructure development projects.
A whopping QR250bn ($68.65bn) is expected to be the total investment in Qatar's booming real estate sector over the next five years.
"The construction boom will continue keeping real estate as the top performer among all the economic sectors in the country," the report noted. [The Peninsula]
Work over time Shahzad .................................. ................... Wed, 17.06.2015, 10.05 hrs ..
someone should do something about the house rents.
regardless..house rent still rocket high!
It is evident by my new lease signed just recently past May that my total expense went down by QR1500 p/mo. Thanks be, I needed breathe.