The property market in The Middle East is thriving, and Qatar hasn’t been left behind. The country has one of the most luxurious residential markets in The Middle East. And the best part is that you can take advantage of this investment opportunity no matter where you live. You see, anyone of any nationality, whether a resident or foreigner, can purchase property in designated areas of Qatar’s freehold property market.
However, purchasing property in a foreign country isn’t always a walk in the park. If you don’t know the right procedures and legal steps, you may end up losing a lot of money or getting on the wrong side of the law. Besides, you may not know the right time to invest in the available properties to reap hefty profits. This won’t happen if you’re equipped with the right information. We’ve provided 5 pointers to help you buy property in Qatar. Let’s dive right in.
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Know Where to Invest Your Money
Not all properties for sale in Qatar are accessible by foreigners. Even if you have the money, you have to follow the laws stipulated by His Highness, the Ruler of Qatar. The good news is that when Qatar opened the doors of investment to foreigners, purchasing property in the country became easy, and people have a wider reach than before.
As of 2019, non-Qataris can buy freehold properties in 10 strategic areas. These include:
- Al Wasil
- Onaiza
- Kharayej
- Al Dafna
- Al Qassar
- Jabal Thaileb
- Al Khor Resort
- Rawadat Al-Jahaniyah
- The Pearl
- Qatifiya West Bay
For leasehold rights, foreigners can purchase property in any of the following areas:
- Airport area
- Musheireb
- Fereej El Nasr
- Fereej Abdul Aziz
- New Al Merqab
- Doha Al Jadida
- Al Sadd
- Old Ghanim
- Al Khalifat
- Al Riffa
- Um Guwailina
- Al Hathey Al Ateeq
- Najma
- Fereej Bin Mahmoud 22
- Fereej Bin Dirham
- Mansoura
- Fereej Bin Mahmoud 23
- Al Khai
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Take Full Advantage of the Upcoming Fifa World Cup in 2022
The best way to get the most out of your investment is to rely on future trends or events that increase the value of your investment. If you’re thinking of buying property in Qatar, the best time to do it is now. The 2020 Fifa World Cup is being held in Qatar. Therefore, everything is expected to go up in price, including property, especially rental units.
Most people who plan to visit the country for the world cup will need to take up houses or rental apartments for the duration of their stay. The supply is expected to be lower than the demand. As a result, landlords stand to gain a lot during the World Cup.
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Find Opportunites That Are Perfectly Suited for You
Most people believe Qatar properties are only accessible to the filthy rich due to their hefty price tags. This isn’t entirely true. Yes. Qatar is predominantly appealing to the rich because they mostly deal with luxury apartments, but this doesn’t mean there aren’t opportunities for people looking for affordable luxury.
The country has come up with various housing plans and schemes available to people looking to invest in affordable luxury or move to the country with their families. If you think you won’t get good returns for such investments, you will be happy to know that there’s an increasing demand for townhouses and contemporary apartments.
Therefore, if you’ve been shying away from purchasing property in Qatar because you don’t think there are opportunities for you, it’s time to weigh your options because the opportunities are limitless.
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Move Fast While the Conditions are Favorable for Investors
If you’re holding off on investing in Qatar properties, hoping to wait for the right time, you’re losing valuable time, and it may cost you later. Qatar is developing rapidly, and property prices are expected to go higher following this trend.
Therefore, if you’re serious about purchasing property in Qatar, there is no better time than the present. Investing now is more affordable and gives you a better chance of earning higher returns when the market prices skyrocket soon.
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Think Longterm
The possibility to invest in properties in Qatar is a recent development. As a result, most people are still holding off because they’re not sure it’s the right move for them. While it’s good to take caution, waiting may be costing you incredible returns in the future.
Currently, the property market in the country is quite affordable to investors looking for luxury apartments, spacious mansions, and elegant and scenic penthouses. Therefore, the best time to invest is now. As we’ve mentioned, Qatar is developing quite fast, and the prices may skyrocket soon. So, think about how much money you stand to gain long-term and take the leap.
Wrapping Up
Many investors are buying properties in Qatar, and it’s not hard to understand the excitement. The country is developing fast, and the Fifa World Cup in 2022 provides a great opportunity to rack hefty profits from property investments. If you’ve been toying with the idea of investing in the country, it’s time to make a decision. At the rate the country is developing, you may not be able to afford property in the country soon.