Qatar Property is 'Buoyant'

World Cup buzz continues to bolster Qatar's property market.
Despite an oversupply of new projects the market is stabilising, thanks to increasing demand, according to a new report by DTZ.  The interest in housing is fuelled by the economic activity in the country, which is creating more jobs, the consultancy says.
"Qatar's successful bid to host the 2022 FIFA World Cup will act as a catalyst for significant government investment in to infrastructure and real estate development," said Mark Proudley, associate director at DTZ Qatar.
Rents for a two-bedroom apartment in such prime Doha developments as Lagoon Plaza and The Pearl now range from QR8,500 to QR14,000 per month (US$2,300 to US$3,800), DTZ says. "Large stand alone, high-end villas" are performing better, due to lower supply, with rents starting at QR23,000 (US$6,300) a month and rising to QR45,000 per month (US$12,300).
In the sales market, "there is a positive outlook for the freehold market in 2011 with signs that investor confidence is returning," DTZ said. "Doha will continue to experience relatively strong residential demand over the short to medium term as the economy remains buoyant and the population growth continues."