According to real estate industry specialists, the nation’s current sales market will continue to be steady throughout the second quarter of 2023.
“People were expecting a decline in the market but we have not seen that yet. The prices have been firm since the World Cup,” said Jeffrey Asselstine, managing director of NelsonPark Property.
He said that “There are a number of excellent brand-new options we brought to market through our developers.”
The source claimed that there had been a lot of transactions, notably on infrastructure improvements, in addition to purchasers visiting the market. As a result, the official reported that Q1 sales increased by a factor of two over the prior quarter.
He also noted that over time, there have been an increasing number of people asking questions about the sales market.
Reports claim that there hasn’t been much of an impact on market values, nevertheless.
The global economy, specifically the economies of the US and Western Europe, is one of the main factors that could impact the market, according to experts.
Mahdi Hachana, Director of Sales and Marketing at Ibn Ajayan Projects Real Estate, said in a statement to The Peninsula: “After the World Cup, there has been stability in the market, which is great news for investors and stakeholders.”
He said “One of the reasons for this stability is how Qatar deals with investors as actual partners and supports the real estate market.
It’s encouraging to see this level of collaboration and commitment toward sustainable growth.”
“The adjustment in the real estate market will have a positive impact on the state.
In the upcoming months, he continued, we hope to reap the rewards of this change.
According to Jawdat Al Kateb, General Manager of Coreo Real Estate, there is a higher demand for real estate projects than there has been in recent years.
He said that “A lot of international events are happening in Qatar and many projects including energy expansion, new tech companies, and start-up techs have also entered the market.
So with people pouring in, the increase in demand for sales is anticipated.”
With such high occupancy rates, the real estate executive claimed that sales are still booming and supporting Qatar’s economy’s expansion.
“We received a huge demand and have reached huge levels of occupancy as well.
Nearly 100 percent occupancy in many towers,” he noted.
He further added that “Each tower is running between 95 to 100 percent current occupancy.
We are carrying out something that is probably unique which was not done in the past few years and this results in the continued growth of the current sales.”
Sales in the nation increased dramatically across a number of industries during Eid and Ramadan in the first month of quarter 2. This comprises the gold market, e-commerce, hospitality, dining establishments, lodging facilities, and residential markets.