How Not Knowing Procedure to Buy Property in Qatar Makes You An Amateur

Doha is currently transforming into one of the biggest metropolitan cities in the Middle East. The recent announcement of FIFA World Cup to be held in Qatar has also garnered a lot of attention for the country. More and more people are moving to the country because of the high standard of living. To add to the benefits, there is no income tax in this country. If you are also one of the movers to Qatar then it will be beneficial for you to know about the procedures of buying and owning a property in Qatar.

Instead of being a complete newbie, all the information provided below will help you to be a pro while buying property in Qatar.

1. You are allowed to buy property only in a few areas- There are only a few freehold developments where an expatriate can buy a property. The Pearl, The West Bay Lagoon, and Al-Khor are three such developments. So don’t be unaware of the whereabouts and buy property anywhere just because the developer said so, first verify whether it is allowed to buy the property there or not.
2. You get Homeowner’s residence permit- You get the homeowner’s residence permit upon purchasing a property from such freehold developments. This residence permit is extended to your family as well. It is valid for 5 years.
3. You can buy property on lease for 99 years- If you want to buy property in areas other than the freehold development then you have the option to get the property on lease. This lease will be valid for 99 years. In this case, you do not get the ownership of the property. So do not be stupid for not knowing this.

4. No full payment until the property is not available- Full payment for the property is made only after the property is available to you. Do not pay before that.

5. Deposit- The initial deposit is paid upon the signing of the sales contract. Do not make any deposits before that. The remaining amount can be paid later.

6. Payments after deposits- The amount remained after paying the initial deposit can be paid through different multiple payments within a specific period of time. Please do not take these payments as Equated Monthly Installments (EMI), these are actually staggered payments which can be made in different amounts at different intervals over a specified period of time

7. Transfer fee- The property transfer fee in Qatar is 0.25% of the property value. The Authentication fee for documents is around QAR 15. So remember these rates so you are not duped into paying more than the legal fees.

8. It takes 13 days to register property- The property registration process in Qatar takes around 13 days. In some situations, it may vary a little bit but you should be alert if your developer is taking unusually long time to in the registration of your property.

9. Legal Bodies-  While buying a property in the capital, if you require authentic guidelines or help then Doha Municipality or the Ministry of Justice’s Real Estate Registration Department can be helpful for you.

We hope that all the information provided to you above will help you in buying property in Qatar. We are sure you will make use of the information to be a person experienced in buying properties.