Buying property in Qatar is no longer the risky venture you may have once thought. With a stable economy and benign political climate – indeed, foreigners are actively encouraged to invest in the country – there has never been a better time to look towards this beautiful Middle Eastern land for investment purposes.
Trust us, you will not be disappointed with the results.
Capital City: Doha
Area: 11,437sq km
Time Zone: GMT +3
Country dialing code: +974
Currency: Riyal (QAR)
For a country made up predominately of low, rolling sandy deserts, Qatar is – as you would expect – fiercely hot throughout most of the year. Winters are relatively mild, with some nights dropping below freezing in the desert in December. Rainfall is extremely light and there are no rivers or lakes in Qatar; yet as an archipelago it is surrounded on three sides by the Persian Gulf.
The government of Qatar has recently committed a $65 million investment towards the country’s infrastructure and energy initiatives, sparking a number of investors into action. With its excellent climate, low taxes and strategic location, industry watchers are waiting to see whether Qatar can have the impact that Dubai has had on the overseas property market.
The signs so far have been very positive. With an economy diversifying and no longer over-reliant on Qatar’s oil reserves, the country’s GDP is set to add to its already impressive growth of 8% during 2007. With mortgages now available to foreigners at an incredible 90% (with just 5% interest rates in many cases); and with property prices in Qatar far lower than in Dubai, a number of overseas property investors have turned their attentions this way.
With the amazing Pearl of Qatar the flagship development, other developers, investors and estate agents have developed a keen interest and solid confidence in Qatar’s ability to attract the second home owner and investor, thanks to the quality of build on offer, the wonderful climate and the low property prices. With the Pearl setting such high standards, other developers now know that, in order to realistically compete, they must produce quality at an affordable price; and they must produce it soon. Investors are waiting in the wings, with eager anticipation of Qatar’s future.
While there are currently no low-cost carriers flying to Qatar, it is definitely a case of watch this space at the moment. British Airways and Qatar Airways have twice-weekly flights from Gatwick and Heathrow, while Qatar Airways also offers a weekly service from Manchester. A number of other airlines such as KLM and TravelUp offer services from Birmingham, Edinburgh and Dublin.