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FinancialNews
24-07-18
Qatar records boost in real estate affordability
(MENAFN) Qatar's real estate review for the second quarter this year, consulting compamy ValuStrat reports released, have found a boost in affordability across all sectors in the country.
The Q2 ValuStrat Price Index (VPI) has recorded a 4.5 percent drop since the first quarter of this year, a 10.9 percent decline compared to the same period in 2017.
"Affordability has become pervasive across all real estate sectors in Qatar. Falling commercial rents are favouring tenants who are budget oriented and prefer smaller units," Pawel Banach MRICS - ValuStrat Qatar General Manager stated.
The general manager added "on the residential front, developers are offering high-quality apartments at competitive rents to try and secure deals. This increased affordability has improved competitiveness in the real estate market and may partially explain a rise in transaction volumes, amounting to more than QR5bn this quarter. We are expecting these market corrections to continue in the medium term."
MENAFN2407201800450000ID1097191713
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