I've often questioned this answer. It's my understanding after 100 years you have to give the property back to the landowner. Therefore, it's more of a lease.
The positive side of this is the permanent residency which will give you access to almost free health care. That with in itself is a big bonus. Now if you intend on living here a long time, you won't have to pay anymore rent after about 15-25 years except for the association costs to maintain the building.
The downside of purchasing property here is the poor standards of unskilled plumbers and electricians in this country. In addition, the water table problems which will affect the building. But, as in all hot beach front properties around the world, the water table affecting the structure is always a problem.
Because of the upscale boutiques there at the Pearl, I think it will uphold it's real estate value. I've heard from managers there that it's a playground for wealthy Qatari's and other gulf men. I guess the women will teach them how to spend their money!
I've often questioned this answer. It's my understanding after 100 years you have to give the property back to the landowner. Therefore, it's more of a lease.
The positive side of this is the permanent residency which will give you access to almost free health care. That with in itself is a big bonus. Now if you intend on living here a long time, you won't have to pay anymore rent after about 15-25 years except for the association costs to maintain the building.
The downside of purchasing property here is the poor standards of unskilled plumbers and electricians in this country. In addition, the water table problems which will affect the building. But, as in all hot beach front properties around the world, the water table affecting the structure is always a problem.
Because of the upscale boutiques there at the Pearl, I think it will uphold it's real estate value. I've heard from managers there that it's a playground for wealthy Qatari's and other gulf men. I guess the women will teach them how to spend their money!
Now that's a question that more people should have asked before buying there in the first place!!!! It's beyond belief that so many people purchased units at ridiculous prices on The Pearl when the market was high. Buyers paying $500,000 and more for one bedroom units....fools. This is Qatar, not London or New York. No one ever thought, 'Who will live on here when it's finished....and that was when Lusail was still estimating around 350,000 residents.
To answer your question, I wouldn't recommend buying as an investment in The Pearl at the moment. If you're going to live there and have a living allowance to spend, it works, as long as you buy at the right price. The rent/repayment ratio doesn't match up, especially once you take in to consideration the service charges.
The cracks are already showing in many of the towers, and my concern would be what condition they will be in 5 years, 10 years down the line....I'd expect to get a very high service charge bill in 5 years to repair a crumbling exterior.
If you're not going to actually live in it, buy elsewhere in a safer market. If you do want to get a capital gain on your property here, you may be waiting a LONG time. Basic supply and demand.
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I've often questioned this answer. It's my understanding after 100 years you have to give the property back to the landowner. Therefore, it's more of a lease.
The positive side of this is the permanent residency which will give you access to almost free health care. That with in itself is a big bonus. Now if you intend on living here a long time, you won't have to pay anymore rent after about 15-25 years except for the association costs to maintain the building.
The downside of purchasing property here is the poor standards of unskilled plumbers and electricians in this country. In addition, the water table problems which will affect the building. But, as in all hot beach front properties around the world, the water table affecting the structure is always a problem.
Because of the upscale boutiques there at the Pearl, I think it will uphold it's real estate value. I've heard from managers there that it's a playground for wealthy Qatari's and other gulf men. I guess the women will teach them how to spend their money!
I've often questioned this answer. It's my understanding after 100 years you have to give the property back to the landowner. Therefore, it's more of a lease.
The positive side of this is the permanent residency which will give you access to almost free health care. That with in itself is a big bonus. Now if you intend on living here a long time, you won't have to pay anymore rent after about 15-25 years except for the association costs to maintain the building.
The downside of purchasing property here is the poor standards of unskilled plumbers and electricians in this country. In addition, the water table problems which will affect the building. But, as in all hot beach front properties around the world, the water table affecting the structure is always a problem.
Because of the upscale boutiques there at the Pearl, I think it will uphold it's real estate value. I've heard from managers there that it's a playground for wealthy Qatari's and other gulf men. I guess the women will teach them how to spend their money!
Now that's a question that more people should have asked before buying there in the first place!!!! It's beyond belief that so many people purchased units at ridiculous prices on The Pearl when the market was high. Buyers paying $500,000 and more for one bedroom units....fools. This is Qatar, not London or New York. No one ever thought, 'Who will live on here when it's finished....and that was when Lusail was still estimating around 350,000 residents.
To answer your question, I wouldn't recommend buying as an investment in The Pearl at the moment. If you're going to live there and have a living allowance to spend, it works, as long as you buy at the right price. The rent/repayment ratio doesn't match up, especially once you take in to consideration the service charges.
The cracks are already showing in many of the towers, and my concern would be what condition they will be in 5 years, 10 years down the line....I'd expect to get a very high service charge bill in 5 years to repair a crumbling exterior.
If you're not going to actually live in it, buy elsewhere in a safer market. If you do want to get a capital gain on your property here, you may be waiting a LONG time. Basic supply and demand.
Do a Search on Qatar Living for Pearl and property and I would expect that you would come to a conclusion yourself.
For me the main question is what kind of rights would you have as a property owner in Qatar, which laws in Qatar would protect your rights here ?
Another question is, howe is the building quality, and would the Property last ?
Property anywhere in the world is a better choice to invest. It will never let you lose.