I bought one for QR1.3m nearly 2 years ago. Delays and more delays mean I reckon it might be early next year now when it is ready. Rent has been projected at 14 to 16K a month. I can't believe this, so I halved it when the real estate person told me it. Even if you quarter it to say 3.5K a month, that is still a 5% tax free return, which is what you'd probably better than what you'd get in the UK, then it'd be taxed. But I reckon it'll go for around 10K a month. I'll never live in it, it's just an investment. Went and had a look last week, the finishes are great.
The credit crunch has come at just the right time. They'll finish the Pearl but other projects will be delayed now as developers take fright. The population here has doubled from 850,000 to 1.6m in the 2 years I've been here and is still rising so I reckon with Qatar's healthy economy this will carry on. There are a huge amount of other projects about to start, including the underground system, which has been signed off and is due to start in May, with a stop at The Pearl. But I always look at worst case scenario where investments are concerned, and I am still glad I did it.
I'm not going to try to persuade anyone from either buying or not buying, that's up to the individual.
I bought one for QR1.3m nearly 2 years ago. Delays and more delays mean I reckon it might be early next year now when it is ready. Rent has been projected at 14 to 16K a month. I can't believe this, so I halved it when the real estate person told me it. Even if you quarter it to say 3.5K a month, that is still a 5% tax free return, which is what you'd probably better than what you'd get in the UK, then it'd be taxed. But I reckon it'll go for around 10K a month. I'll never live in it, it's just an investment. Went and had a look last week, the finishes are great.
The credit crunch has come at just the right time. They'll finish the Pearl but other projects will be delayed now as developers take fright. The population here has doubled from 850,000 to 1.6m in the 2 years I've been here and is still rising so I reckon with Qatar's healthy economy this will carry on. There are a huge amount of other projects about to start, including the underground system, which has been signed off and is due to start in May, with a stop at The Pearl. But I always look at worst case scenario where investments are concerned, and I am still glad I did it.
I'm not going to try to persuade anyone from either buying or not buying, that's up to the individual.