Qatar announced new regulations that will encourage more foreigners to invest in property for sale by the end of 2022. More non-Qataris can now invest in leasehold and freehold properties in the nation, following Cabinet Resolution 28. Depending on the investment amount, doing so will confer temporary or permanent resident status. The new regulation applies to both residential neighborhoods and retail spaces in malls.
This also allows foreigners to buy apartments for sale in Qatar. While searching for apartments to invest in, there are various things to know. Continue reading to learn more.
Types OF Apartments For Sale In Qatar
Qatar has various options available in the Qatar real estate market. You can get three basic types of accommodations while searching for apartments for sale in Qatar.
There are different levels of unfurnished housing. The majority of unfurnished homes lack primary curtains, rugs, or appliances. Additionally, most older homes lack closets, kitchen cabinets, and bathroom storage.
Asking the departing tenant whether they are interested in selling you any of their old furniture is always a smart idea. This will save you the cash and time it would take to buy and install new things.
Semi-furnished flats come with the essentials, such as air conditioning and possibly rudimentary appliances, and set up all the utilities.
Fully Furnished Apartments
Each piece of furniture and kitchenware is included in fully furnished flats. Some apartments for sale in Qatar even come with bed linen and kitchenware included in units. A fully furnished flat for sale will save time and money if your visit is only one or two years.
When speaking with a potential neighbour or past tenant, confirm estimated utility expenses and how well the landlord manages any minor or significant issues with the property.
Where To Find Apartments For Sale In Qatar
Fixing the neighbourhood should be your top priority before searching for the ideal dwelling. Before making a decision, you must invest some time in the region of your choice, considering considerations like proximity, rent, and other aspects.
There are specific areas in Qatar that provide luxury apartments for sale. These famous areas include;
- West Bay with marina view
- Porto Arabia
- Al Dafna Qatar
- Lusail City, Qatar, near the FIFA world cup stadium
- The Pearl Qatar Doha
- Viva Bahria
- Old Airport Area with sea view
After narrowing down your choices, the location of the apartment, workplace, educational institutions, parks, hospitals, and other public amenities should be your primary concern.
Make Sure To Evaluate Value For Money
Make careful to consult a few independent realtors and real estate professionals before making a decision. This is much more crucial if you have reserved the apartment in advance. Before investing today, you should know the project’s future genuine value.
Average Cost Of Apartment For Sale In Qatar
Mostly fully furnished apartments fall in 3 – 5 bedrooms with a maid room category in the freehold areas. A typical three-bedroom furnished apartment for sale starts at 2,650,000 QAR. By buying an apartment in Qatar on a six-year payment plan, minus the lease cost, you can purchase a selling unit with a 30 % down payment. You must give the bank the 30% down payment and the loan amount when you buy an apartment.
You can determine your demand by assessing your net profit and financial situation. Attractive homes have a price based on location. Another option is a residential apartment complex that yields a 6% return on investment. The nation promotes investment by making a lot of properties available for purchase.
Amenities To Look For In An Apartment
Consider the neighbourhood features when selecting any apartments for sale in Qatar. Make sure the components of an apartment complex suit your needs if you’re buying an apartment there.
Do you require more security or a doorman, for instance? Do you need a lift? Does your apartment building have a gym, or is there one nearby that is reasonably priced? Has a dishwasher been installed in the apartment? Does the apartment complex where you live have a washer and dryer? How was the trip? Exists a laundry facility exist nearby? Are there any eateries or retail establishments nearby?
Check off all these questions before you secure your decision on long-term investment. You’ll probably have to make sacrifices if you’re on a limited budget, like walking to the laundromat or commuting.
With the increasing development in the country, there are a lot of newly developed real estate areas that provide residential apartments for sale, like the sale in Pearl Qatar. If you are looking for apartments in Qatar, log in to Saakin, the best property finder website you can use in Qatar to get quality property.
Frequently Asked Questions
Q: What kind of property can be bought in Qatar as an Expat/
A: Ex-pats can buy residential and commercial property in Qatar as freehold or leasehold property as long as they follow the rules and regulations provided by the government.
Q: Can I get Qatar citizenship?
A: Yes! According to new rules, foreigners living and working in Qatar for over 20 years will be eligible to get Qatar’s citizenship.