dropping rents
after a months ordeal of looking for accommodation we finally decided on a villa in a good location and now that we have moved half our stuff our previous landlord is insisting we stay on and he will reduce the rent by two thousand!!!! His rent was a bit high and thats why we decided to move and gave him a notice 45 prior to expiry of previous contract and although the villa next door has been empty for the past three months he didnt do anything to convince us to stay on and now that we have already signed another contract and moved half our stuff he is literally begging us to stay on!
talk about bad timing!!!Had he had this change of heart two weeks back i would have spared myself the hassle of moving house! that too from a furnished to unfurnished!!!
To add insult to injury i also received a call from a compound that i was literally dying to get into and after being on their list for almost two years i am being offered a villa there!!!I was almost in tears at the bad timing!!!
who says rents arent falling? i have never seen 'for rent' signs in such numbers in doha!!!! So those of u looking, calm down and dont be impulsive. Once again in Doha the landlords are on their knees for a change!Hope the rest of you can benefit , even if i couldn't!!!!!!
in Qatar.... there is no such thing as losses, everything is peachy;-)
"if you don't like the heat... get out of the kitchen... but stop trying to fan the flames before you leave... it will burn you on the a** as you go through the doorway...." ME
visit www.qaws.org
I mean wouldn't they have been wiser to provision for the expected losses in the coming period
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Quidquid latine dictum sit, altum sonatur.
your'e right, most logically they should be bracing for losses.
but why last month i saw headlines in the papers about a couple of banks declaring 70% dividend?
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Quidquid latine dictum sit, altum sonatur.
These guys are not stupid, they financed the compounds with loans as they knew the banks would offer excellent terms. Why risk their own cash. In this position even if they fail to pay the loan back chance are they are not going to debtor prison.
The banks here are already bracing for huge losses, I don't have figures to hand but the next couple of months are not going to be pretty.
avid,
thanks for your comments. I feel more comfortable now in my temporary accomodation till the summers.
Very interesting comment you made earlier:
{In the old super liquid non crunch 149 dollar days the banks would let you defer paying them back until you could rent out the whole compound. How long will that policy continue for now ?}
But what percentage of housing projects are bank financed do you know? I was always under the impression that the qatari builders are full of cash and don't need the banks, that's why they don't mind keeping the housing unoccupied for many months.
No layoffs planned in my semi-govt company
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Quidquid latine dictum sit, altum sonatur.
yeh!!thats what we r trying to tell ourselves.
Guess I would also have to start charging people for offering numbers lamea?
Hope you guys have settled down in your new place. Dont worry about what has happened with the property, just think like this how much money you will save now..
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HE WHO DARES WINS
UKeng, thats old news. Now they charge 50riyals for one labourer and 150 for the truck. Its the same guy u recommended!!!!
why dont you pm Bik with the numbers.
UKeng, thats old news. Now they charge 50riyals for one labourer and 150 for the truck. Its the same guy u recommended!!!!
why dont you pm Bik with the numbers.
Bik.. The driver and the truck is around 100 to Qr 120, each labourer comes at QR30 per trip I think..
You can get them from Najma of they used to be paked opposite the Al Fardan building nead Grand Hamad Street..
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HE WHO DARES WINS
Lamea, did you move your belongings by yourself or did you rent a truck? I need to move out of my apartment to new place in about month. Do you know if there any pick up truck and 3 guys to rent for one day to help us move?
Bloody hell it would be my number one priority. Not everyone here works for the Government and even if they did, as ex-pats they would be first for the chop in tough times.
aviduser...maybe cos they don't care about rents or being layed off.....maybe??
Rizkz,,, dont have hopes dude , that cant be increased. :)
I meant Cost To the Company (COC)
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Listen to Many..Speak to a few.
To then think about moving, It's thought many will people will leave at the end of the school term.
I think that could be a bit of a red herring, the Summer here is always quite, Ramadan follows shortly thereafter.
By the winter many more compounds could be finished and many others will have been empty for quite some time by then.
Wait and see, and if you are in rented accommodation take the advice above and renegotiate your rent when the contracts due.
I am frustrated with this forum though, people seem to want to debate the merits of wearing hot pants or decide if they are a Christian or a Muslim more than they want to debate things that actually matter like rent and whether or not their company is going to be laying off staff.
To that end is anyone working for a company that has/is/will be laying off staff ?
Lol, thanks for the help Lamea sweety and good luck on the move today. I am sure you will have a good time considering how fun moving is :S
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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"
its a three bedroom fully furnished villa but let me warn you he doesnt provide maintenance but frankly i didnt need much anyway!!
hey everyone, i am not a realestate agent. But by judging from the demand i think i will start by charging for the info i disclose!!!!lol!
He is looking for accommodation for two person, Independent with own bathroom,sala or within Bin Mahmoud, Al Sadd, Bin Omran, Al Nassr.
"simple yet complicated"
"makamal a anak"
COC ?? Watz Tat ?
u mean COCK ?? :)
Rizkz , you meano. though its company paid, it increases ma COC. :)
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Listen to Many..Speak to a few.
Tatz great Arien....:)
My company has received a letter from Al fardans increasing ma rent by 10% from 01 march.
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Listen to Many..Speak to a few.
Lamea, that's a nice rent for a villa, how many BRs and what's the name of the compound?
Last week i saw a 2BR apt with a 'good for nothing' layout and they were demanding 7.5k U/F. Not aware of the market! is what i told them.
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Quidquid latine dictum sit, altum sonatur.
Abu, thanks for the advice
Avid, so can you give your expert forecast on the trend in the coming months (uptill summer)
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Quidquid latine dictum sit, altum sonatur.
And no there are no more vacant villas in the one i am shifting to.
Unfortunately the new villa is a bit more than 10k thats why i am so heartbroken at the landlords late change of heart!!!!!
wow lamea, 10K for a villa! that's almost a small 2 bedroom flat i saw in nearby places.... the new flats that were recently constructed, you would barely have space for a complete sofa set in the sitting room. looks like for a few more hundreds, one could get a villa! what a treat.
but this could also boomerang on employees who are getting a housing allowance, like UKEng said. news will reach our employers and they will reduce our housing allowances. some of our employers are also landlords, so they know that the rents are getting dived.
Can you PM owners no to me also. Furthermore, the place you are shifting to now, is the rent same i.e. around 10k? Are there any vacant villas in that area also? If so, please give me that no. as well.
Thanks.
well its not a fancy compound neaither is the villa but the interior wall work is unique and the rent very affordable but let me warn you of the construction going on right next door, which i have got used to but u might take much longer. If you are still interested i will pm his number to u.
Lamea can you PM me the compound or owners contact?
You are a doll :)
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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"
Amoud, i am vacating mine tomorrow, u can have it.
Lamea I need a villa there, any chance? Hubby needs to be closer to work.
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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"
abc, we were paying 12k for a fully furnished villa in a small compound without facilities near Ramada and now the landlord has reduced the rent to 10k!!hope it helps.
or daily consumables??..
Hi every1,
when do you think will be the best time, rents at their lowest and plenty of choice?
I plan to wait till June. Do you think that makes sense or should i sign-up long term just now?
thanks
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Quidquid latine dictum sit, altum sonatur.
You lucky B....... Lucky you. then your sorted Dora the explorer. One of the life misery in Doha is not a worry for you. Hope the other misery of life in Doha is schooling, well the government cant help with that or may be they can..lol
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HE WHO DARES WINS
I don't have an allowance ;) My dear??!!WTF?
Dora especially Government departments can reverse the accomodation allowance if the rents come down..So dont be so sure my dear..
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HE WHO DARES WINS
O No not good news the rents are dropping that means our company will reduce the supplementary allowance too that they have given us in the light of rising rents, which can easily reverse..
This month one of the allowance attached to the currency disappeared. So all of you getting allowances from companies beware that they also thinking of reducing your allowances..
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HE WHO DARES WINS
another fine post by aviduser......very interesting...luckily I work for the government ;)
Novita,,, Sheikh Mansur's villas are for QR 13000 QR, we visited the compound last Thursday, and that's what the compound manager told us and lots of them (villas) available, btw...
Nothing remains the same, and everything will change at some point.
Can you share the information about the rent you were paying earlier and the one you are paying now. This will help people like me who are on a lookout. Thanks.
Qataris have been duped into thinking that their Oil and Gas based economy would see them through tough economic times. And that's certainly true to the extent that if you work on Oil and Gas you may very well keep your job. Also unlike the early 90's the Government will have enough money to pay all the Government's employees.
Sadly though that is basically the extent of the economy, there pretty much isn't anything else except construction, that presently makes up 38% of the economy here.
OK so who then are all the compounds being built for ? Shop workers and people from Mushrib can't afford 12K a month. Construction and domestic help can't afford it so who.
It's pretty clear that too many compounds and apartments have been built, we are certainly no where near the Dubai scale of over supply but we have most certainly come to a point where supply has exceeded demand.
We all knew after the Asian games that demand would go down, it did. Prices on the other hand didn't. Stories abounded that properties were being left empty. And that was 2 years ago. Construction didn't stop it accelerated.
Now there are too many compounds chasing too few people.
In the old super liquid non crunch 149 dollar days the banks would let you defer paying them back until you could rent out the whole compound. How long will that policy continue for now ?
How many compounds will simply never be filled and allowed to turn back to dust ?
My betting is that eventually something will snap and rents will plummet. Banks will either force repayment or foreclose.
Wait till the end of the year. I think we will se some real bargains. Prices back to 2004.
This is just the start....most of the locals have huge loans and time is running out for them......they are expecting the demand to get better with the demolition around Musherib......
The guys who stay around Musherib in the old buildings surely will not be able to afford QR 8,000 to Qr 12,000 rent.
If Musherib gets demolished then the exodus will begin....Qatar could become another Dubai!!!
Amoud, i got your email. Thank you again :)
Waiting to hit the rock bottom but then I would not know when that passes.
Could anyone guess the right bottom-time of the crisis?
Even i was a disbeliever of the dropping rents in qatar but now that this happened to me i am just speechless! Not to mention too tired and numb to think anything.
The landlords were too optimistic so far to reduce the rent , now all of a sudden they have woken up at the wrong time(atleast for me and om Maui)!!!!
Lol, Abu, I was thinking someone had to come and tell me I was full of BS (not assuming it was QS, I have loads others for that).
I will stay in my nice little villa in Kharatiyat, if I told you how much I am paying for a new 5 bedroom standalone you will all die of envy :)
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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"
i did buy some second hand stuff also , i wonder if you were one of the ppl i bought from!!! Do you really want your stuff back and double the price???
I think I may have sent it to you by email, either way check your PM's and mail
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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"
That would be great Amoud.THANK YOU !!! :)
Sorry I couldnt be of more help, I will PM you a number of the guy who I spoke to about it, friendly chap.
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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"
Thanks Amoud appreciate the direction :) , it is for a friend who looking for villa around that area.
Novita I am not 100% sure, I passed by there once and can give you a general idea.
If you go to the aspire zone signals from Villagio turn left (same side as Aspire). There is some construction and such, I think you get to a small R/A and take a left, the road should follow around in a curve (you will be trying to head back out to the road near the equestrian club). It isnt marked, it is on the left hand side... if you call any agent they have it on their listings for sure as it seems everyone wanted to show me these villas.
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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"
Saif.....
Can u reduce the size of ur signature pic ?
Its covering half of my MOnitor ...:)
In spite of a downward trend in prices globally the prices in Doha always find their way up god knows how!. I might agree that rents have gone down a bit following the delivery of some of Barwa project accommodations, but that doesn't make it the case for everything, while that should be the normal reaction to what is going on in the world !
Amoud, can you give the direction to that Sheikh Mansour Compound pls?
care to sell some of your stuff, lamea? LOL
practice makes perfect... yeah.. but nobody is perfect.
so why practice? lol
gosh maui. yesterday i had half the mind to cancell my contract but i had bought new furnitures and electronics and hence couldnt stay in my already fully furnished house!
hi lamea, i just had the same experience. this late negotiation for me to stay costed me a lot, because i have already signed my contract and i was penalized by paying 15 days rent. and i already paid the agent his commission, and i spent a lot in moving my stuff, and i had to move them back. plus, bonus! i sold my furnitures, because i thought i was going to move to a smaller place! what a nightmare, i can imagine the heck you just went through
yes UKENG sometimes life just sucks!!!!!Considering what a certain brit did a few days back. this time moving has really been a nightmare! who says practice makes perfect?
lamea.. Yes damm right, what a bad timing.
Its like we say in the UK, you wait so long for one bus then two come along at the same time.. Sods law.
I know how anoying it must be, specially that this is your third move in almost the same amount of years..
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HE WHO DARES WINS
Surely Brit :) and very close to Villagio so you can cruise your pink Kia around there at your convenience
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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"
Is there a gym and more importantly , resident parking for a Pink KIA
They are falling yippeee!!!
The Sheikh Mansour compound in the Aspire zone was asking 17,000 for fully furnished villas (4 bdr) and couldnt get it, they have now dropped to 15,000 (14,000 semi furnished) and they are still empty....
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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"
So better be wait and weigh things on your surroundings.
Alert that is.
talk about irony huh... :)
Power to the People
*thrusts fist in the air*
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