File photo for representation only
Doha: The current sales market in the country continues to remain steady during the second quarter of 2023 says experts from the real estate industry.
“People were expecting a decline in the market but we have not seen that yet. The prices have been firm since the World Cup,” said Jeffrey Asselstine, managing director of NelsonPark Property.
He said that “There are a number of excellent brand-new options we brought to market through our developers.”
In addition to the buyers coming to the market, the official stated that there has been a high volume of sales, especially on the infrastructure developments. Hence, the sales have doubled in Q1 compared to the previous quarters, said the official.
He also highlighted that the number of people inquiring regarding the sales market has surged over time.
However, reports state that there has been no major impact affecting the prices in the market.
Experts elucidate that one of the key things that could affect the market is the global economy in terms of the US and Western economies.
Speaking to The Peninsula, Mahdi Hachana, Director of Sales and Marketing at Ibn Ajayan Projects Real Estate said: As you may know, there has been stability in the market after the World Cup, which is great news for investors and stakeholders.
He said “One of the reasons for this stability is how Qatar deals with investors as actual partners and supports the real estate market.
It’s encouraging to see this level of collaboration and commitment toward sustainable growth.”
“The adjustment in the real estate market will have a positive impact on the state.
We’re looking forward to seeing the benefits of this adjustment in the coming months, he added.
The demand for realty projects has increased and from the past few years we have seen an increase in demand for sales, said Jawdat Al Kateb, General Manager of Coreo real estate.
He said that “A lot of international events are happening in Qatar and many projects including energy expansion, new tech companies, and start-up techs have also entered the market.
So with people pouring in, the increase in demand for sales is anticipated.”
Having obtained a huge number of occupancy rates, the real estate official said that the sales continue to thrive fostering the growth of Qatar’s economy.
“We received a huge demand and have reached huge levels of occupancy as well.
Nearly 100 percent occupancy in many towers,” he noted.
He further added that “Each tower is running between 95 to 100 percent current occupancy.
We are carrying out something that is probably unique which was not done in the past few years and this results in the continued growth of the current sales.”
During Eid and Ramadan in the first month of quarter 2, the sales in the country soared in several sectors. This includes the Gold market, e-commerce, hospitality, restaurants and hotels, residential marts, and housing properties.
