The American financier and politician Russell Sage once said, “Real estate is an imperishable asset, ever-increasing in value. It is the most solid security that human ingenuity has devised. It is the basis for all security and about the only indestructible security”. This statement was put to the test since the outbreak of the Novel Coronavirus. As industries all around the world are still reeling under the effects of COVID-19, real estate companies in Qatar too have geared up to embrace and minimize the long-term impacts of the pandemic.

Real Estate in Qatar

Qatar’s real estate industry was able to adapt and pull through during these unprecedented times, thanks to the Qatar government’s allocation of QR75 billion ($20.5 billion) towards private businesses. This strong government support ensured that disruptions in real estate would not cause any long-term damage.

In an attempt to diversify and boost the economy, the government also opened the property market for foreigners – foreign nationals who buy a home or commercial space in certain areas of Qatar are being offered permanent residency for the entire duration of ownership. This move made Qatar a highly sought-after location and further increased the demand for properties.

What the Future Holds

Moving to a remote and hybrid work environment has ignited the desire of wanting to live a luxurious and comfortable life at home. Real estate agents have witnessed a robust demand for luxury homes and state-of-the-art office spaces, and the conversations are gradually shifting from budget and affordability to luxurious lifestyles and personalized experiences. Despite an initial drop in demands due to the pandemic, the Qatar real estate market is now noticing visible signs of improvement, with distinguished buyers still looking to upsize.

Premier Realty, Making Your Real Estate Dreams Come True

Whether you are looking for a new home for your family or want to buy a commercial space to invest, speak to our team at Premier Realty to explore the best luxury experiences in Qatar.