Qatar is a fascinating country with a rich culture and plenty of opportunities for expats. If you’re considering buying property in Qatar, there are a few things you should know. Yes, expats can buy property in Qatar. Qatar has both freehold and leasehold properties. Freehold properties can be bought and sold by anyone, while leasehold properties can only be leased for a certain period of time (usually 99 years).
Here’s what you can expect from this real estate investment guide:
Should you buy property in Qatar?
There are many reasons to buy a property in Qatar, such as the stable political and economic environment, the low crime rate, the high standard of living, and the excellent infrastructure. Living in Qatar is ideal with its world-class facilities and amenities. The country has some of the best hospitals and educational institutions in the region, and its infrastructure is constantly being improved to keep up with the demands of a growing population.
Is It The Right Time To Buy Property In Qatar?
There is no one-size-fits-all answer to this question, as the right time to have property ownership in Qatar depends on a number of factors. However, if you’re considering buying property in Qatar, now may be a good time to do so.
The Qatar real estate market has been growing steadily in recent years, and prices are still relatively affordable when compared to other major global cities. Additionally, the country’s economy is strong and stable, providing buyers with peace of mind that their investment will be secure.
The successful hosting of the FIFA World Cup in 2022 has put Qatar in the spotlight, with increased investment and tourism expected in the coming years. Qatar has worked hard for the event, and its success is a testament to its dedication and commitment. With the eyes of the world now on Qatar, there is no doubt that it will continue to prosper in the years to come. So this is a great time to buy a property in Qatar, as prices are likely to go up in the next few years.
Of course, there are always risks involved when buying property, no matter where you are in the world. But if you do your research and work with a reputable real estate agent, you can minimize these risks and find a property that meets your needs and budget.
Property Law for non-Qataris
In 2020, Qatari Government passed a resolution (CR No. 28 of 2020). The resolution establishes the types of properties that expats and foreigners are allowed to purchase and outlines the conditions, restrictions, benefits, and procedures associated with ownership. Expats can own real estate in 9 freehold areas and they can also benefit from real estate in 16 areas on 99-year lease. These 25 areas are as follows:
99-year lease
Freehold property
These are the great locations for properties for sale in Qatar.
Non-Qataris may also own detached units in residential complexes and commercial malls, provided that they do not modify or change the unit’s appearance.
Major benefit of investing in Qatar
An investor who owns property worth at least QR730,000 (approximately $200,000) is eligible to apply for a residence permit for themselves and their family. This permit does not require the sponsorship of an employer and is valid for as long as the property is owned.
If the property owner investment is greater than $1 million, they will receive permanent residency benefits that include healthcare, education, and investment opportunities in commercial activities and commercial properties.
Also check: How to invest in stock market in Qatar
Where to find properties for sale?
There are many platforms where expats can find details of property for sale. Two such platforms are PropertyFinder and Saakin.qa. These are the websites that provide a searchable database of properties for sale in various countries. Another option is to contact real estate agents, who will be able to provide information on properties that are currently on the market.
How long does it take to buy a property in Qatar?
The process of purchasing a property in Qatar can take anywhere from a few weeks to a few months. It all depends on the type of property you are looking to purchase, as well as the amount of paperwork and red tape involved. However, once everything is said and done, you should be able to enjoy your new home in Qatar in no time.
What banks offer mortgages for property in Qatar?
There are many banks located in Qatar that offer mortgages for buying property. Some of the popular banks include Qatar National Bank, Doha Bank, and Qatar Islamic Bank. These banks offer a variety of mortgage products that can suit your needs and budget. When going for a mortgage, it is important to compare interest rates and terms to find the best deal.
Mortgage Calculator
You can try Doha Bank’s mortgage calculator to find:
Hope this guide was helpful on how can expats buy property in Qatar. What are your thoughts on this. Let us know in the comments below.
