Qatar Property for sale
Qatar became an independent country on 3 September 1971 after being a British protectorate. In 1974, the Qatar General Petroleum Corporation took and managed all the oil operations. Qatar rapidly became a rich country with a modern and well-developed infrastructure. In June 1995, His Highness Sheikh Hamad bin Khalifa Al Thani assumed power with the support of the ruling family and the Qatari people. With his accession Qatar entered a new era of modernisation and embarked on the development of a strong base for democracy.
Qatar was not open to ownership of freehold title deeds for foreign property investors until June 2004. Investors up until that point were only able to purchase 99-year leases (renewable) in certain projects. So in that sense its property investment history is similar to that of the Dubai Property market.
As the majority of property is already built, overseas property investors/homebuyers are interested in off plan investment opportunities, which are now available.
Qatars most famous property development under construction is the Pearl with first phase completion due in 2007 and full development finished by 2009.
Investors who buy in selected developments namely The Pearl, West Bay Lagoon or Al Khor are granted residential rights for their family until the property is sold on.
So why invest in Qatar?
Property in Dubai has been booming now for the past few years and investors who have achieved excellent growth are now looking at other Middle Eastern markets, namely Qatar and the Bahrain Property market as well as some of the other Emirates.
It’s a new emerging market and the government is now focussing on developing
the tourism industry, which in turn leads to a need for new homes and accommodation.
Recommended alternative countries:
The market for Property in Dubai is still strong, with many new off plan properties
being released.
Many Bahrain new homes are available for foreigner to buy in.