File photo used for representation only.
Rents remain unchanged in Qatar post-World Cup and is one of the major issues in the country as many residents have been angry and took to social media and online platforms to raise their concerns.
Recent data by Global Property Guide states that the highest average rent for a two-bedroom apartment in the Middle East is in Qatar for a whopping $3,742 (QR13,625). The Peninsula recently investigated why the prices have been the same post-FIFA World Cup 2022 and what are the possible reasons for it.
After speaking to several landlords, residents, and market experts, The Peninsula discovered that some of the main reasons for hike in rents include real estate investments and to benefit from the upcoming occasions as Qatar is in the epicentre of mega events in the next few months and years. Interestingly, the community in Qatar had various insights and opinions on social media platforms after reading the story ‘Why rent remains high in Qatar’.
On one hand, when many residents felt that the landlords are carrying out “unfair decisions” on the rental prices that affects the commoners, on the other, residents called for government interventions to halt the skyrocketing cost of living.
One of the tenants commented on The Peninsula's social media channel, “Greedy landlords and middlemen creating unfair prices in the real estate market compared to other GCC countries.”
Another Doha resident expressed her views on the status of living in Qatar and said, “Rents are increasing, cost of living are increasing, food prices are increasing but salaries still remain the same since five years. What a sad reality”.
When the newspaper explored the causes and reasons and spoke to people in the real estate sector, the majority of them said that there will be a drop in the rents and there might be fluctuation in prices in mid-2023.
One of the residents said, “Rent is a complete joke. Greedy landlords and estate agents who take the commission even though they don’t show the house or apartment and then don’t answer your calls once you hand over your pre-dated cheques and give them a half months rent commission for nothing.”
As most of the affected residents complained about the unchanged elevated prices since the global sporting tournament, some of them had their perspectives as to why rents are not declining. One of the residents said, “Maintenance is very expensive that’s why rents remain high,” while another resident blamed it on the middlemen. Many people have same salaries despite the surge in rents. One of the residents said, “My room rent was QR1,000, now the landlord pressurized me to give him QR1,800 as rent. Not only family rooms, but even all bachelor rooms rents have also been increased. But my salary is the same as two years before.”
Another person said, “Now in Qatar construction work has decreased and people are jobless. Even if they get a job, the salary is declining and the cost of living in Qatar is increasing.”
Speaking to The Peninsula on the community reactions on the report, Ahmad Al Khanji, Chief Executive Officer at Hapondo real estate, an online realty portal, which analyses facts and figures about the residential market in Qatar, said, “This issue was expected. Some real estate companies and landlords have already adjusted the prices to ensure occupancy and renewal of leases, while others will wait until they’re forced to do so.
“Around 8,000 residential properties are expected to be added to the supply and notable projects are to be added such as Gewan Island and La Plage South which will drive the supply even higher. Therefore, we will notice a decline of around 10-20 percent in rental prices gradually throughout this year,” he added.
Individuals requested on social media portals for mandatory intervention to minimise the rents in the country and called for strict action from authorities to control rising rents.
Another resident said,“The worst part right now is that hundreds if not thousands of people are currently without a job after the FIFA World Cup, especially in the construction sector, hence the payment of high rent becomes extremely difficult. The government should do something about the situation of residents as soon as possible. To live in Qatar is getting extremely difficult on daily basis.” Another resident added, “Common shop owner can’t survive. Too high rent. The government needs to focus on this issue.” As the rental crisis unfolds in Qatar, individuals are seeking the help of the government to resolve this problem at the earliest. Another resident said, “The government should control the rents. It disturbs the cash flow of the market and businesses.”
A resident added, “The government should intervene in this matter and stop the loot by real estate agents. Great article The Peninsula.”
