Qatar Residential Real Estate Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.94 Billion |
| Market Size (2029) | USD 4.20 Billion |
| CAGR (2024 - 2029) | 7.42 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Qatar Residential Real Estate Market Analysis
The Qatar Residential Real Estate Market size is estimated at USD 2.94 billion in 2024, and is expected to reach USD 4.20 billion by 2029, growing at a CAGR of 7.42% during the forecast period (2024-2029).
- After a dip in Q2 2023 of apartment rental rates across Qatar, some sectors stabilized as demand picked up in Q4 of 2023. Lower rents, coupled with rent-for-rent incentives, saw a surge in demand for apartments in Pearl Qatar and Lusail during August and September 2023, coinciding with the start of the school year.
- As supply increases, there is a growing gap between occupancy rates across the market. High-quality buildings with quality property management are beginning to attract high demand from potential tenants despite evidence of higher vacancies across the market.
- A number of master-planned apartments, including those in the new developments such as Madinatna and Ezdan Oasis – which benefited from strong demand due to the World Cup – had been steadily building occupancy throughout 2023 and offered attractive rental deals for new tenants.
- Compound villas continued to enjoy high occupancy across Doha, and rents have remained relatively stable throughout the year. On Pearl Island, one-bedroom apartments can usually be rented with rents ranging from QAR 7,000 (USD 1922.55) to QAR 9,500 (USD 2609.17) a month, depending upon the location and the quality of the building. The majority of three-bedroom apartments on the Island are now available for rent, ranging from QAR 13,500 (USD 3707.77) to QAR 16,500 (USD 4531.72) a month.
- For example, in Fox Hills, a one-bedroom unit is usually priced between QAR 5,000 (USD 1373.25) and QAR 6,500 (USD 1785.22) a month, while a three-bedroom unit is priced between QAR 8,500 (USD 2334.52) and QAR 10,000 (USD 2746.50) a month.
Qatar Residential Real Estate Market Trends
Apartment Segment Observing Significant Growth
Rental rates in Doha declined significantly in the first six months of 2023 as a result of the reopening of apartments following the World Cup. However, residential rents have stabilized in recent months of 2024.
There has been strong demand for apartments in new, higher-end buildings as annual leases end and new residents flock to Qatar. As a result, many newly built buildings in high-end neighborhoods often reach 100% occupancy in as little as three months.
In the Pearl, there has been a trend of premium end tenants moving from older towers to new constructions. As a result, the occupancy rates vary from building to building depending on the age and quality of the buildings. In Q4 2023, it was also noted that the newer apartments in Fox Hills, Erkiyah City, and Lusail that are often offered at similar rental prices are becoming increasingly attractive to the residents of some of the older suburbs in Doha.
It was also noted that while new apartment buildings tend to have lower occupancy rates than older ones, villas across Doha tended to have high occupancy rates, and rents will start to increase gradually beginning in 2024.
More than 400,000 apartments and villas will be available in Doha by the end of 2024, which represents a 6.2% increase over the past decade.
Apartments are often offered rent-free for a month. Furnished units command a premium, ranging from QAR 500 (USD 137.32) to QAR 1,000 (USD 274.65) per month, depending on the size of the room. Pearl Island’s rental prices are on the rise as new supply is added to the market in areas such as Floresta Gardens/Giardino Village. Many older properties have lowered their asking rents in an effort to attract new tenants.
Increasing Occupancy Rates in the Residential Segment
Residential rentals continue to drop in Qatar, boosting the occupancy rate. The residential real estate market has been at the forefront of Qatar’s economic transformation. It has been instrumental in diversifying the country’s revenue streams and increasing foreign investments. These factors have helped Qatar’s economy become more resilient and less reliant on oil and natural gas exports, which have traditionally been the main source of income.
The government’s vision and dedication to developing a strong and sustainable infrastructure have been among the driving forces behind Qatar’s impressive growth in the residential real estate market. The country’s leaders have invested in a variety of infrastructure projects, including top-tier stadiums, notations, commercial centers, and residential properties.
The government has traditionally implemented investor-friendly policies and initiatives to provide incentives for both domestic and foreign real estate investors to engage in the property market. The introduction of harte zones, tax exemptions, and simplified business rules have created a business environment that encourages more investors to invest in Qatar’s booming property market.
The rapid urbanization and population growth of Qatar have led to an increase in the need for residential properties. As a result, developers have been concentrating on the development of residential projects that provide modern amenities and sustainable solutions. These developments are particularly appealing to expatriates, who make up a large part of Qatar’s population and are looking for high-quality housing.
Although the Qatari residential real estate market has seen rapid growth, there is a need to ensure that the growth is sustainable and managed properly. Preventing speculation, providing affordable housing, and maintaining a balance between demand and supply are important for the long-term sustainability of the market.
Qatar Residential Real Estate Industry Overview
There is huge competition between residential real estate companies in Qatar. The market is dominated by a few players. The sales proportion of residential real estate properties through online channels has consistently grown, owing to the rising internet penetration, growing demand, increasing personal disposable incomes, the surging youth population in the middle-income group, and rising opportunities offered by government infrastructure investments.
Foreign investments in the Qatari residential real estate market are estimated to increase in the coming years, as non-Qataris may invest in selected real estate projects, such as the West Bay Lagoon and The Pearl. Major real estate players in the market are Al Mana Real Estate, United Development Company, Qatari Diar Real Estate Company, Ezdan Holdings, and Barwa Real Estate Company.
Qatar Residential Real Estate Market Leaders
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Al Mana Real Estate
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United Development Company
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Qatari Diar Real Estate Company
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Ezdan Holding Group
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Barwa Real Estate
*Disclaimer: Major Players sorted in no particular order
Qatar Residential Real Estate Market News
- September 2023: ValuStrat, an esteemed international valuation consultancy, launched new operations in Qatar. This strategic move not only marked ValuStrat's foray into the Qatari market but also enhanced its service repertoire.
- March 2023: The Investment Promotion Agency Qatar (IPA Qatar) announced a collaboration with Knight Frank, a global real estate consultancy based in the United Kingdom, to promote Qatar's real estate industry to international investors.
Qatar Residential Real Estate Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Current Market Overview
4.2 Residential Real Estate Buying Trends, Along with Socioeconomic and Demographic Insights
4.3 Government Initiatives and Regulatory Aspects for the Residential Real Estate Industry
4.4 Insights into the Size of Real Estate Lending and Loan to Value Trends
4.5 Insights into Interest Rate Regime for General Economy and Real Estate Lending
4.6 Insights into Rental Yields in the Residential Real Estate Industry
4.7 Insights into Capital Market Penetration and REIT Presence in the Residential Real Estate Industry
4.8 Insights into Affordable Housing Support Provided by Government and Public-private Partnerships
4.9 Insights into Technology and Startups Active in the Real Estate Segment (Broking, Social Media, Facility Management, and Property Management)
4.10 Impact of COVID-19 on the Market
5. Market Dynamics
5.1 Market Drivers
5.1.1 Foreign Investments Driving the Market
5.1.2 Infrastructure Developments Driving the Market
5.2 Market Restraints
5.2.1 Economic Fluctuations Hindering the Market
5.2.2 Regulatory Changes Affecting the Market
5.3 Market Opportunities
5.3.1 Demand for High Quality Housing Driving the Market
5.3.2 Government Initiatives to Promote Investments
5.4 Industry Attractiveness- Porter's Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Bargaining Power of Buyers/Consumers
5.4.3 Bargaining Power of Suppliers
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Apartments & Condominiums
6.1.2 Villas & Landed Houses
7. COMPETITIVE LANDSCAPE
7.1 Market Concentration Overview
7.2 Company Profiles
7.2.1 Al Mana Real Estate
7.2.2 United Development Company
7.2.3 Qatari Diar Real Estate Company
7.2.4 Ezdan Holding Group
7.2.5 Barwa Real Estate
7.2.6 Zukhrof Real Estate
7.2.7 Al Asmakh Real Estate
7.2.8 First Qatar Real Estate Development Co.
7.2.9 Ariane Real Estate
7.2.10 Mazaya Real Estate Development
7.2.11 Les Roses Real Estate
7.2.12 Mirage International Property Consultants*
- *List Not Exhaustive
7.3 Other Companies
8. FUTURE OF THE MARKET
9. APPENDIX
Qatar Residential Real Estate Industry Segmentation
Residential real estate is land that has been built for the purpose of allowing people to live there. It cannot be utilized for commercial or industrial reasons. It appears when someone purchases land designated for residential use, which becomes real estate property and contains a wide range of potential homes, from houses to houseboats, and neighborhoods ranging from the poorest slum to the wealthiest suburban development.
A complete assessment of the Qatari residential real estate market includes an assessment of the economy and the contribution of sectors in the economy, a market overview, market size estimations for key segments, and emerging trends in the market segments in the report.
The Qatari residential real estate market is segmented by type (apartments & condominiums and villas & landed houses). The report offers market sizes and forecasts for the Qatari residential real estate market in value (USD) for all the above segments.
| By Type | |
| Apartments & Condominiums | |
| Villas & Landed Houses |
Qatar Residential Real Estate Market Research FAQs
How big is the Qatar Residential Real Estate Market?
The Qatar Residential Real Estate Market size is expected to reach USD 2.94 billion in 2024 and grow at a CAGR of 7.42% to reach USD 4.20 billion by 2029.
What is the current Qatar Residential Real Estate Market size?
In 2024, the Qatar Residential Real Estate Market size is expected to reach USD 2.94 billion.
Who are the key players in Qatar Residential Real Estate Market?
Al Mana Real Estate, United Development Company, Qatari Diar Real Estate Company, Ezdan Holding Group and Barwa Real Estate are the major companies operating in the Qatar Residential Real Estate Market.
What years does this Qatar Residential Real Estate Market cover, and what was the market size in 2023?
In 2023, the Qatar Residential Real Estate Market size was estimated at USD 2.72 billion. The report covers the Qatar Residential Real Estate Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Qatar Residential Real Estate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging trends expected to influence the Qatar Residential Real Estate Market?
The emerging trends expected to influence the Qatar Residential Real Estate Market are a) Increased demand for integrated communities with mixed-use developments b) Continued focus on luxury and high-end properties c) Innovations in smart home technologies d) Focus on sustainability and green building practices and increased adoption of technology in property management and customer interactions
Qatar Real Estate Housing Industry Report
The Qatar residential real estate market is experiencing significant growth driven by a flourishing economy, demographic expansions, and substantial foreign investment. Government initiatives have played a crucial role in enhancing homeownership, leading to increased demand for luxurious, high-end apartments and villas with modern amenities in prime locations. This trend reflects evolving customer preferences, as detailed in the Qatar real estate market report.
Development efforts are focused on creating integrated communities that offer comprehensive lifestyle solutions, including shopping centers, schools, and recreational areas, all accessible within these vibrant neighborhoods. Sustainability is also a prominent trend, with developers increasingly adopting green technologies to minimize environmental impact and appeal to eco-conscious residents. The diverse expatriate population further fuels the demand for varied housing options, driving growth in the residential sectors.
The market predictions indicate a positive market outlook, supported by detailed market segmentation and a thorough market analysis. The market forecast suggests continued growth, with the market size and market value expected to rise. Industry analysis and industry research highlight the importance of understanding market trends and market data to stay competitive.
The industry outlook remains optimistic, with industry reports and industry statistics providing valuable insights. The growth rate of the market is a key indicator of its potential, and industry information is essential for making informed decisions. The market leaders are closely monitoring these developments to ensure they meet the creative and sustainable living expectations in a competitive environment.
For a deeper understanding, a sample of this industry analysis is available as a free report pdf download. This comprehensive report includes industry trends, industry sales, and industry size, offering a complete market overview and market review. Research companies play a vital role in providing accurate and up-to-date market information, ensuring stakeholders have access to the latest market data and market predictions.
Qatar Real Estate Housing Market Report Snapshots
