Some 580 residential units were added in Qatar during the fourth quarter (Q4) of 2021 with completion of a villa compound in Al Wakrah and residential complexes in Lusail and The Pearl, according to researcher ValuStrat.
And some 13,500 residential units are projected to be added in the country during 2022, ValuStrat said in its latest country review.
The estimated fourth quarter 2021 ValuStrat Price Index for Qatar's residential capital values saw a depreciation of 1% quarter-on-quarter (QoQ) and 4.2% compared to Q4, 2020.
Residential rental values are estimated to remain unchanged compared to Q3, 2021 and down by 3.1% year-on-year (YoY).
On laws and regulations governing real estate, ValuStrat noted that Qatar Cabinet approved a draft resolution to form a panel on setting maximum prices and profit rates.
Draft decision on regulating entry visas and residence permits to some categories was ratified. The cabinet approved a draft law regulating the ownership of real estate in the country by diplomatic and consular missions.
The fourth quarter of last year witnessed the conduct of Cityscape Qatar, ValuStrat said.
Notable projects launched during 9th Edition of Cityscape Qatar included Crystal Residence comprising 15 mixed-use buildings in Gewan Island (The Pearl), apartment and mixed-use buildings in Qetaifan North, 1,700 villas in Furjan Wadi Lusail, Al Yussum townhouses 2 in Yasmeen City Lusail and apartment complex ‘Milos’ in Legtaifiya .
Qetaifan Projects and Dar Al Arkan (realty developer in Saudi Arabia), signed an agreement valued at QR700mn to develop a premium project on Qetaifan Island North.
In terms of office price and rents, ValuStrat said that with reforms to investment regulations made in 2021, and the easing of regional restrictions, it expects a boost in demand which may lead to slowing of office rents declines by end of 2022.
Significant oversupply exceeding 2mn sq m GLA is projected to worsen in 2022 despite the boost to demand, due to projected supply pipeline exceeding 1mn sq m GLA during the year.
Despite boost to retail demand in 2022, rentals in malls and shopping centres could continue to face downward pressure due to relatively large supply pipeline for the year, ValuStrat noted.
The estimated fourth quarter 2021 ValuStrat Price Index for Qatar's residential capital values saw a depreciation of 1% quarter-on-quarter (QoQ) and 4.2% compared to Q4, 2020.
Residential rental values are estimated to remain unchanged compared to Q3, 2021 and down by 3.1% year-on-year (YoY).
On laws and regulations governing real estate, ValuStrat noted that Qatar Cabinet approved a draft resolution to form a panel on setting maximum prices and profit rates.
Draft decision on regulating entry visas and residence permits to some categories was ratified. The cabinet approved a draft law regulating the ownership of real estate in the country by diplomatic and consular missions.
The fourth quarter of last year witnessed the conduct of Cityscape Qatar, ValuStrat said.
Notable projects launched during 9th Edition of Cityscape Qatar included Crystal Residence comprising 15 mixed-use buildings in Gewan Island (The Pearl), apartment and mixed-use buildings in Qetaifan North, 1,700 villas in Furjan Wadi Lusail, Al Yussum townhouses 2 in Yasmeen City Lusail and apartment complex ‘Milos’ in Legtaifiya .
Qetaifan Projects and Dar Al Arkan (realty developer in Saudi Arabia), signed an agreement valued at QR700mn to develop a premium project on Qetaifan Island North.
In terms of office price and rents, ValuStrat said that with reforms to investment regulations made in 2021, and the easing of regional restrictions, it expects a boost in demand which may lead to slowing of office rents declines by end of 2022.
Significant oversupply exceeding 2mn sq m GLA is projected to worsen in 2022 despite the boost to demand, due to projected supply pipeline exceeding 1mn sq m GLA during the year.
Despite boost to retail demand in 2022, rentals in malls and shopping centres could continue to face downward pressure due to relatively large supply pipeline for the year, ValuStrat noted.
