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Qatar Luxury Residential Real Estate Market Size (2024 - 2029)

The Qatar luxury residential real estate market is experiencing growth driven by an increasing number of wealthy individuals seeking multiple homes and new investment portfolios. The market's expansion is further supported by the demand for better homes with facilities that accommodate remote work, a trend accelerated by the COVID-19 pandemic. High net-worth individuals are particularly drawn to Qatar's luxury properties, with Lusail emerging as a favored location due to its appealing amenities and high household budgets. Recent changes in foreign property ownership rules and improved economic conditions have also contributed to the market's positive trajectory, indicating a sustained increase in demand for luxury homes and villas in Qatar.

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Market Size of Qatar Luxury Residential Real Estate Industry

Qatar Luxury Residential Real Estate Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 1.37 Billion
Market Size (2029) USD 1.85 Billion
CAGR (2024 - 2029) 6.16 %
Market Concentration Low

Major Players

Qatar Luxury Residential Real Estate Market Major Players

*Disclaimer: Major Players sorted in no particular order

Qatar Luxury Residential Real Estate Market Analysis

The Qatar Luxury Residential Real Estate Market size is estimated at USD 1.37 billion in 2024, and is expected to reach USD 1.85 billion by 2029, growing at a CAGR of 6.16% during the forecast period (2024-2029).

  • The Qatari luxury residential real estate market is getting a significant boost from an increasing number of wealthy individuals who are seeking to own multiple homes and new portfolios. The luxury residential market Qatar witnessed a growth as a result of the impact of the COVID-19 pandemic, as many in the working class saw the need for better homes with access to facilities that encourage Work From Homes policies.
  • Qatar’s property market is witnessing a significant demand for luxury properties from high net-worth individuals (HNWI), and Qatar boasts the 4th highest GDP per capita globally at approximately USD 69,000. As per industry experts, more than 35% of the HNWI prefer the residential sector as the best investment option in Qatar, followed by the office and retail sectors. In addition, Lusail emerged as a popular choice for luxury homes among HNWI. Also, Lusail’s average household budget is more than USD 1.8 million, and became favorite neighborhood for the wealthy individuals. Lusail Marina and Lusail Waterfront are preferred places for residential acquisition and more than 71% of HNWIs already own properties in those two areas.
  • Furthermore, with the recent introduction of more liberal foreign property ownership rules, the end of the economic and political blockade against Qatar, as well as improving economic conditions, it is not surprising that Qatar’s luxurious housing market is now showing signs of growth. Qatar's expanding population, along with a strong demand base and high discretionary income levels, suggests that demand for luxurious homes and villas will likely continue to climb in the near future.

Qatar Luxury Residential Real Estate Industry Segmentation

Luxury residential real estate refers to properties that are exclusively designed for human occupation that provides charmed and resort life with high-end amenities. The report provides key insights into the Qatar luxury residential real estate market. It includes technological developments, trends, and initiatives taken by the government in this sector. Also, focuses on the market dynamics. Additionally, the competitive landscape of the Qatar residential real estate market is presented through the profiles of key players active in the market.

The Qatar luxury residential real estate market is segmented by type (apartments and condominiums, villas, and landed houses), and by key cities (Doha, Al Wajbah, Al Wakrah, and Other Cities). The report offers market size and forecasts for the Qatar luxury residential real estate market in value (USD) for all the above segments.

By Type
Apartments and Condominiums
Villas and Landed Houses
By City
Doha
Al Wajbah
Al Wakrah
Other Cities
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Qatar Luxury Residential Real Estate Market Size Summary

The Qatar luxury residential real estate market is experiencing robust growth, driven by an increasing number of high-net-worth individuals seeking premium properties. The market has seen a surge in demand for luxury homes, particularly in areas like Lusail, which has become a favored destination for affluent buyers. The introduction of more liberal foreign property ownership rules and the easing of the economic and political blockade have further stimulated the market. This growth is supported by Qatar's high GDP per capita and the preference of over a third of high-net-worth individuals for residential investments. The market's expansion is also reflected in the rapid development of luxury towers, gated communities, and villas, indicating a strong demand base and high discretionary income levels.

The rental market in Qatar has also shown resilience, with a temporary spike in rents due to the FIFA World Cup in 2022, followed by a gradual return to pre-event levels. Despite a decrease in rental prices in some areas, the demand for villa rentals remains high, supported by the influx of new units and incentives like rent-free periods. The market is characterized by a fragmented nature with several key players, and there is an expectation of increased merger and acquisition activity. Notable developments, such as the Four Seasons project in The Pearl-Qatar and the Les Vagues residences by ELIE SAAB, highlight the ongoing investment in luxury real estate, setting new standards for high-end living in Doha.

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Qatar Luxury Residential Real Estate Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Dynamics

      1. 1.2.1 Drivers

        1. 1.2.1.1 Increasing Number of High Net Worth Individuals (HNWIs)

      2. 1.2.2 Restraints

        1. 1.2.2.1 Fall in Demand and Rise in Supply Following the Construction Boom Linked to the FIFA World Cup

      3. 1.2.3 Opportunities

        1. 1.2.3.1 Residential Sector Emerging as the Top Investment Choice among HNWIs

    3. 1.3 Value Chain / Supply Chain Analysis

    4. 1.4 Industry Policies and Regulations

    5. 1.5 Technological Developments in the Sector

    6. 1.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.6.1 Bargaining Power of Buyers/Consumers

      2. 1.6.2 Bargaining Power of Suppliers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Apartments and Condominiums

      2. 2.1.2 Villas and Landed Houses

    2. 2.2 By City

      1. 2.2.1 Doha

      2. 2.2.2 Al Wajbah

      3. 2.2.3 Al Wakrah

      4. 2.2.4 Other Cities

Qatar Luxury Residential Real Estate Market Size FAQs

The Qatar Luxury Residential Real Estate Market size is expected to reach USD 1.37 billion in 2024 and grow at a CAGR of 6.16% to reach USD 1.85 billion by 2029.

In 2024, the Qatar Luxury Residential Real Estate Market size is expected to reach USD 1.37 billion.

Qatar Luxury Residential Real Estate Market Report Snapshots

Qatar Luxury Residential Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)