Report: Despite increase in housing units, residential rent rates to stay steady

Despite an increase in residential housing in Qatar, real estate agency Asteco says prices aren’t expected to fall any further because new companies are coming to the country daily.

“The ever increasing amount of international companies coming to Qatar is having a positive effect on the real estate market,” the company’s managing director Jed Wolfe told Oxford Business Group.

Last year saw an easing of rent rates, and with 15,000 new housing units coming onto the market currently, concerns have been expressed about a possible real estate collapse. 

The Oxford Business Group’s new report, however, says that is unlikely to happen, citing figures from QNB Capital group that demand will likely tick up slightly in 2012. 

All the same, a real estate agent I spoke with yesterday said it’s still a buyer’s market.

Have you been looking for housing recently? What have you found?

Credit: Photo by Kim Cofino