Investing in Qatari Real Estate

Yes Giasi, it is true and you can buy or any forigner a villa or apartment in about 19 locations around Doha.

But as Suber7 said, till now we can't find any property for sale in those areas but we are still looking.

Ayman

Yeah Giasi that is because it is all insider day trading. The market is so small they are all trading with inside knowledge. If you have a good group of local friends you can make a fortune.

Market is on downward trend at the moment so watching it then hoping to jump in.

Any tips?

Thanks for the info Super. I think the refurbishment of old properties could be worthwhile, assuming that the sellers ask for reasonable prices.

By far the most lucrative investments in the Gulf over the last few years has been shares. For people who know what they are doing (and i have met quite a few) theres millions to be made. I know of someone in dubai who regularly makes 20-40% PER MONTH.

Even share portfolios offered by gulf banks made between 90-110% in 2005.

Respect

GIASI

pakestaak I don't like funds. They are expensive (management fees) and unrewarding. thank you though.

Giasi allow me to take this one. I went and had a meeting with an estate agent regarding this. There are several areas where foreginers can buy right now the trouble is that there are no properties on the market. The estate agent is working hard to persuade people to sell but not many are just yet.

It will also not be freehold but 99 year leasehold

It is also expensive mainly because of high rental yields at the moment and the paucity of vendors and ample buyers. However the estate agent believes it will change as qataris get more used to the selling thing. Also that there will be considerable opportunities for anyone willing to refurbish old properties.

SS

Safwany... i hear that there are a few areas in doha that have been designated for real estate development for freehold sale to foreigners. However, apart from west bay and the pearl, i havent seen anything in the press. Whats the situation? are there any plans to sell real estate in the older parts of doha?

Respect

GIASI

I'm not qualified enough to have this debate about Turkey, so you might be right.

I think that turkish relations with Israel are much weaker than what it used to be. Relations with Syria aren't so bad now, are they? Relations with US aren't so good now, are they?

You might be right, and Turkey will never join EU. Time will tell.

Respectfully to disagree with Butterfly,

But Turkey has ZERO stabilising influence in Middle Eastern geopolotics. The Middle East is in majority Arabic, and Arabs consider them as a distablising force, as they are at odds with every surrounding country, they have switched to European alphabet and for another very good reason: they buy arms from and are allies to Israel. They are just a good influence for the superpowers to keep the straits open and nicely controlled. Turkey expresses no affection towards Arabic countries, but only to build an east-west Pan-Turkic influence through the Caspian sea.

Moudir

If you choose Rumania, you could always start a small business, they still use goats for renovating the lawn areas "flymos are us".

As For the excess goats im sure you could do a deal with sheebu's disgraced husband- its a win win situation.

One point to consider 50% of the women have gained employment outside Rumania to view these delights you would need to be in Bulgaria, Morocco, Tunisia etc etc - all night work you understand

;-)

Super7, why only look at real estate? I assume that you would invest in real estate for the return on investment. There are a lot of other opportunities with a lot less hassle than buying a house or land. You can put your money in funds that invest in real estate if you really want to focus on real estate. The ideas that other people have put forward about upcoming markets are excellent. Instead of physically buying the property you could also focus on funds that invest in these markets, possibly even with the combination of real estate, but that does not have to be the case. Because these funds usually have a certain geographical area they invest in, you can also spread your risk. E.g you could invest in Poland only, or the whole of former Eastern Europe. You are easy in, easy out. No brokers, no real estate selection to be performed, etc. etc. If you really run out of options, there is always the "pakestaak charity foundation"...:)

by the way am in touch with polish estate agent and mortgage broker. Looks awesome out there and a pretty nice place too.,

caroline you are sensational.

Moudir's got a point, yet Europe is very keen in Turkey as bonding and stabilising relations between Europe and the Middle East. If Turkey joins EU, the place is really going to Boom. Big time.

It is stimated that Turkey will join EU by 2020, so still few years to go.

Jewel, I am certain that foreigners can own a property in Turkey.

Ayman,

In my opinion it very easy to buy (property, house, anything) in countries where you're allowed, but it is a LOT harder to sell... all the odds are against you when you are a foreigner, anywhere in the world, even in the States when you are not a citizen. The legal paperwork, the fees for lawyers, agents, withheld taxes (may be not for Qatar), duties and all the rest are overwhelming, not counting the time it takes to get your money out and run.

In my book, when you're not living in your home country : just rent, do not buy, unless you have money to burn + you really know what you're doing and you're connected with the right people.

In other words, you have to master the procedure to sell, before you get into buying.

Moudir

Well....

It seems everyone has a different opinion about where to buy a property.

I think you all didn't notice one important point that Super7 didn't mention, buying a house here in Doha will save him from paying rent for the time he will spend in Qatar, even if he didn't stay more then two years I don't think the property prices will go down during those two years as it is the booming time of Qatar then he can sell his property before he leave even with the same price or could be more and he will save his money from rent all this time.

So for him of for anyone else planning to stay here for a while it is a good idea.

Ayman

Any one knows how long it takes to get entry visa entry for qatar for interview and how long for work visa?

Thanks

I wouldn't hold my breath for Turkey getting into the EU. It's better to look elsewhere if you want to make a quick buck. The list of reforms that Turkey has to undergo is so long that, it is discouraging. Just follow-up the progress of negotiations in Brussels. They could only ban the death penalty so far to please Europe. They still have to address and right many wrongs: on the top of the list is freedom of speach, Turkey still prosecutes its own intellectuals for speaking out about human rights, freedom of the media, freedom of religion, freedom of language, respect of minorities, freedom of carrying your own name (if you're not Turkish), Turkey is in conflict with most of its adjacent neighbouring countries, it has to solve Cyprus aggression, it has to come to terms with its past, recognize the Armenian Genocide, pay reparations and the list so long that, not much will happen in this century. Does this sound like a European country? I don't think so. Look for Eastern European countries, their chances are greater for getting in and much sooner.

Moudir

try Rumania, sounds crazy but if your looking for a good investment you will definately get it there, up and coming economy etc etc etc

If Turkey didn't change their law, then it's like Qatar : Foreigners can't hold any property. When I was there ( 97-02) we couldn't buy anything in Istanbul. The southern part of Turkey is beautiful, and housing is cheap. My hubby thought to buy a small house for our holiday usage, but no way at the time.....

I am thinking Turkey actually, as said above if it joins the EU prices are going to skyrocket. There are areas around the south that look really attractive. Good quality and cheap. I've been doing some research and the more i read about it the more convinced i get. With regards to buying in Qatar, i love this country, spent 1/3 of my life in this gorgeous city but would never buy here though. I think that prices are unreasonably high and don't believe the property market here is stable enough. I guess we will all see after the Asian Games though.

As i said i think Turkey is the way to go though!!!

Buy in the center of Paris ? My cousin bought a studio with 112K Euro, near metro, good for holidays and.... very easy to rent.

Istanbul is very very very very beautiful, and the price is very acceptable, but be carful............................

EARTHQUAKE. We just don't know when.

To illustrate your point. Burj al arab was bought by abu dhabi a few years ago because it was running at a loss.

Respect

GIASI

ah yes giasi but Dubai is bankrupt. All their money comes from AD and their oil. Dubai does not turn a profit yet. I think it is more a case of AD not wanting all that excess in their own back yard.

Don't get me wrong dubai will keep growing but it is heavily financed by the oil money of AD

I agree about dubai having vision. They have pioneered approaches in this part of the world. eg. Worlds tallest building, ski dubai, burj al arab, the palms, worlds largest mall, gulfs first casino (vetoed by abu dhabi), Human Rights commission within the police force etc etc. The only thing that holds them back sometimes is having to comply with UAE federal laws.

Dubai has never relied on oil or gas to get ahead. Everything you see is financed by investors (who rarely miss opportunities where they see a profit). Unfortunately, doha (and abu dhabi) have been and remain largely dependent on oil/gas income. Saying that, it only takes a paradigm shift for things to change here and it could happen overnight.

Respect

GIASI

BP is talking about NW england. Giasi the difference with Dubai is that they started selling them at a low price and then the rocketed. Doha have started off at a high price.

Furthermore i am not sure this ever will be as good as Dubai. They have a bizarre and desperately unappealing strategy in doha. It will certainly never be a magnet for tourism like Dubai. Why would you come here versus there? Answer is you wouldn't.

Did you know that Doha have recently banned the selling of alcoholic drinks around the poolside in hotels? The commitee were discussing banning alcohol altogether in hotels but fortunately were dissuaded. They just don't have Dubai's vision

i thought the cheapest townhouses were selling at QAR1.1 million, which is about 165K. They did sell out though.

I remember when they started selling off the first real estate in dubai, most people were sceptical but those first properties have rocketed in price.

Even though Qatar is a depressing building site at the moment, it will develop into a place comparable with dubai. The powers that be seem to be on a mission and are determined to see it through. I, for one, think it will eventually be as good as dubai but Abu Dhabi will overtake them both.

In the gulf, i would suggest sharjah. you can buy 2 bed apartments in well built towers with sports and recreation facilities and underground parking for around Dhs 500k.

Respect

GIASI

A mere £120k for the privilege of having a property in such a desirable part of the world - how can you resist?!

I think Dweller resides in Turkey now?

Dweller?

Eastern europe is also a good bet. Prices are still cheap but the potential is enormous. Moscow prices for example have rocketed over the last few years. I would recommend Romania, Hungary and Poland. Thats all assuming that you want to be a jet setting international property tycoon Super ;)

Respect

GIASI

Interesting angle. thanks bfly. I wonder what prices are like in Turkey.

Anyone have any experience of turkish property? What are the laws like etc?

Take a risk, super

Buy in Turkey. Istambul, prices are cheap. You might get lucky and Turkey may join the EU in a couple of years. If that happens, property prices will start to climb rapidly.

Hehe

OK bp. How much is it? Or do you have to pay me?

Super,

You can buy my house in Warrington if you want - I'll do a good price for a quick sale - it's in the of glorious North West England, midway between Manchester and Liverpool - probably even better than Dubai and London put together!!

Ha ha. No London is not a great bet at the moment. Very expensive already so no massive gains. Better off buying in up and coming area in UK - have to find one of those

so get another one

Already own a house in London

Think is the craziest idea. Look at what's happening in Dubai. If you are going to invest in property, buy in London.

No that isn't true. You can buy in 19 districts around Qatar. Pearl as well and the first residences are due for occupying end 2006 (we'll see about that).

I might buy one but am interested in people's views on any property investment in Qatar. I am not convinced it is good value yet

R u planning to buy a house here super7? As far as I know foreigner only allow to buy in The Pearl which is not even built yet.