The latest Qatar Real Estate Market Trends Report from Property Finder, the region’s leading PropTech company, revealed a considerable 2.97% increase in demand for residential sales in September and October, given the highly anticipated FIFA World Cup taking place this month.
The increase in impressions and leads on properties listed for sale shows expanding interest among investors and end-users at a time when Qatar’s property market recently emerged as a hotspot.
While overall leads increased by 4.98%, total impressions increased by about 7.71%. When it comes to the rental market, some areas witnessed huge gains in prices while others saw a substantial decline. Al Hilal, for instance, experienced a rent fall of 83.98%, while Salata saw a rent increase of 93.75%.
“Investors and first-time property purchasers are now more confident to invest in the Qatari property market in response to the renowned sporting events happening in the country. The Ministry of Justice is also taking the required actions to make the market more transparent, which will pave the way for further investments in the near future,” said Afaf Hashim, Country Manager at Property Finder, Qatar.
The top 5 areas with the most residential rent listings include The Pearl, West Bay, Al Waab, Al Sadd and West Bay Lagoon making them the prime areas for high-traffic and as they are the most sought out locations for the World Cup.