In a country that’s still building many of its first homes, the prospect of buying property can seem a little daunting. That said, there are many benefits to home ownership in Qatar. A home is one of the most significant investments you can make in your future. It improves the possibility that you will stay in the country for a long time and establish roots in your community in addition to adding value to your own portfolio.
The price of Properties for Sale in Qatar has increased significantly over the last decade, with most new developments costing upwards of a million Qatari riyals. Can Seem a Little Daunting Many things need to be considered when buying a home in Qatar. Can Seem a Little Daunting The market is continuously changing as developers launch new projects and real estate prices continue to increase every year. The demand for these homes is also rising tremendously, making it a perfect balance between the surplus stock and sales numbers.
OWNING A PROPERTY IN QATAR
Compared to other countries, the cost of buying a home in Qatar may seem expensive. However, it is necessary to understand that the housing market here is totally different from other markets. The real estate sector in Qatar is growing every day and developing at a rapid pace, which means that home prices will continue to rise over time. In many countries, the cost of housing is so high that it is putting home ownership beyond the reach of many prospective buyers. From affordable to sky-high prices, several options are open for prospects, so real estate continues to be one of the best investments for many residents.
COST OF LIVING- ANALYSIS
When living in Qatar, one must be aware of the expenses that would follow them throughout their stay. This differs from one neighbourhood to the other, size of the property, number of residents and more. The approximate monthly expenses for a bachelor or single resident could be anywhere between 2,900QR to 3,240QR when living on their own property. Families with children will have costs of about 12,324QR every month. It might seem a bit expensive living in Qatar compared to other countries. However, residents owning a property here can enjoy several perks than the ex-pats living in rental homes.
It can be a wise investment to purchase real estate in Qatar. Being an ex-pat, one must follow the state rules to have a peaceful residency here. Residency conferred to foreign nationals or expatriates through property ownership will be valid for the duration of their ownership of the property. This is one main reason for overseas buyers to make their property investments in different areas of Qatar.
INITIAL DEPOSITS AND MORE
The average price of a property in Qatar is relatively high but lesser than that of Doha. The buying process begins with saving up for the humongous initial deposit, which would cost about 5% of the total worth of the home being purchased. A property in Qatar would cost QR1,200,000 to QR25,000,000, considering the size and location. Most buyers prefer applying for a mortgage loan.