Construction boom makes Qatar properties more affordable

Published: 13 August 2010

Demand for Qatar properties is likely to continue rising in coming years thanks to the country's steady growth as its GDP and population expands

The growth is highlighted by the population expansion of the city of Doha, which now has 13 million inhabitants, compared to 500,000 in 2004, reports the National

Developers responded to this growth by stepping up construction activity, according to the publication, which states that there were 18,000 buildings under construction in June 2010

Robert Puentes, an urban growth analyst at the Brookings Institution in Washington, told the news provider that "the rate of growth in Doha is nothing short of extraordinary"

The construction boom has resulted in Doha becoming a tenants' market, according to property advisory firm Asteco, which says rents have fallen by 50 per cent or more over the last 18 months, added the National

Meanwhile, properties on Dubai's Palm Jumeirah island are now more affordable thanks to recent price falls, ArabianBusinesscom revealed recently