The Unassuming Economist

From the IMF’s latest report on Qatar:

“After a period of rapid growth, real estate prices in Qatar are adjusting to new levels. According to the real estate price index developed by QCB, following an 82 percent increase during 2012–16, real estate prices fell by 15 percent during 2017–18. Data produced by the Ministry of Justice indicate the following trends:

• Both the volume and number of transactions are down since 2013–2014 peak. As prices have decreased, some owners seem to be holding off to their properties rather than selling at depressed prices.

• Land prices are holding up better than properties with a rebound in prices during 2017 before adjustment in 2018. Residence prices have been on a declining trend since mid-2014, though there are signs that the slowdown is flattening.

• In terms of regions, land prices in Al Daayen are holding on better which could be due to the active development of Lusail City and 2022 World Cup projects. Similarly, land prices in Al Wakra have been stable in the past years due to major infrastructural projects.”