Rental rates start to jump in Qatar

Date Added: October 19, 2010 07:32:38 AM

Author: opp

Despite increased demand, rental values continued to fall during Q3 2010 in some parts of Doha, while they remained unchanged in other areas.

For the first time in two years, the overall residential rental indicators stood unchanged for both apartments and villas in September, said the report.

For apartment rentals during September, 3 out of 10 areas in the study saw rental increases of around 4%.

Areas with increasing apartment rental rates include Al Mansoura, Airport area and Al Muntazah. Only apartments in Bin Mahmoud suffered a drop of more than 4% in rental rates last month.

For standard unfurnished apartment across Doha, the rents varied from QR3,250 per month for one bedroom units to QR6,300 per month for four bedroom units. However, high quality apartments are still available at much higher rates exceeding QR10,000 per month, for example in new areas such as West Bay and The Pearl.

Areas facing the highest villa rental declines last month included Al Maamoura, Muaither and Al Waab, while increases are seen in areas such as Al Hilal, Duhail, Ain Khaled and Mraikh. Villas in most of areas are now rented for a range between QR10,000 and QR11,500 per month, while villas in Duhail and Al Hilal are rented for more than QR13,000 per month. Real estate sales market saw a gradual growth in the third quarter with more than QR2bn in transaction value apart from one large deal worth QR3bn for a retail complex in Dafna. Approximately, 60 percent of total transaction value was in land plots, while sales of residential villas and houses accounted for 32 percent of total transactions’ value.

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