Doha: The residential market in Qatar is hopeful of a gradual rise in its compound annual growth rate (CAGR) this year as the country is hosting a mega tournament and will continue to have many other international events over the years. The Qatari residential real estate market is optimistic to register a CAGR of over 11.5 percent according to a report by Mordor Intelligence.
Post-pandemic has resulted in increased expenditure projects and has been buoyant over the surging residential properties as the country has one of the top-notch economies that level with all business contentment. The report stated that “Qatar’s economy is one of the most thriving in the Middle East. High GDP growth and population influx, aided by job opportunities and government legislation, are some of the drivers propelling the country’s residential real estate market forward”.
With distinctive projects implemented including residential complexes, sporting venues, and leisure attractions, the residential market grows steadily with progressing expansions for the country’s development and investments being made in standalone villas. Qatar’s populace makes a significant part in this growth rate as many residents and nationals prefer to lease out properties.
“The high net worth of the ordinary Qatari inhabitant, both local and expatriate, has a considerable impact on the construction industry, increasing the demand for luxury and well-organized residential areas. The population growth rate, combined with a steady supply of expatriate workers, is expected to generate further demand in the medium to long term,” it said.
“Qatar’s expanding population, along with a strong demand base and high discretionary income levels, suggests that demand for residential real estate will likely continue to climb in the near future,” it added.
