Investment in real estate is almost always done with a long-term perspective. Therefore it is important to first know the outlook of the market before investing. Due to the rapid growth in the last few decades, there has been a lot of buzz around the globe about living in this country either for employment or for business. More and more people around the world are thinking about the option of buying property in Qatar. To make the assessment process easier, we are here to shed some light on the future of the real estate market in Qatar. The market research report named The Middle East Real Estate Market Outlook to 2019 has already predicted a bright future. Here are some aspects of the country which will have further effects.
Till now Qatar is a tax-free country. When a country does not charge tax on its residents then it attracts more and more people to live there. Businesses also prefer to operate in countries where taxes are less because fewer taxes help you put more money in your pocket.
Due to the absence of taxation, wealthy people who are losing a hefty amount of their income in taxes in their own countries are likely to move to Qatar. The same will be the case with businesses also. This is going to create a great demand and positive outlook for real estate properties in Qatar.
Being one of the richest countries in the world, Qatar also has a reputation for paying high salaries. Lots and lots of people come every year to work here. To support so many people, more and more housing space is required. Becuase of this, the demand for rental spaces also increases. This demand increases the rates for rental and because of the opportunity to earn a good rental income, the demand to buy properties also increases.
The demand for real estate increases when a country is developing. To develop a country the government needs funds. To ensure a constant flow of funds, Qatar has taken very smart financial measures. Apart from huge oil reserves, Qatar government has heavily invested in companies, hedge funds and even in real estate in some of the costliest places in the world. The income from these investments will help Qatar to maintain its pace of development.
As stated earlier that Qatar has secured its sources of income through some smart investments, this income is being used for massive infrastructure developments in the country. This infrastructure will help the country to become an appropriate place to do business, a better tourism destination and an even more developed country. This improved infrastructure will make the real estate even more valuable in Qatar.
Unlike most of the middle eastern countries, Qatar is very modern. Due to this fact, this country becomes a comfortable place to live for most of the world. Although there are Muslim laws imposed but these laws are not so extreme that it becomes impossible for foreigners to live here. So we can safely assume that Qatar will remain a preferred destination for rest of the world and the demand for properties will remain intact.
In June 2017, around 8 countries cut diplomatic relations with Qatar. This event had some impact on the economy in the beginning, but now the conditions are normal. The political tension between the nations can affect the market adversely but this tension is not so big right now.
So these were our views on the future of real estate market of Qatar.