Rents slide in Qatar

Published: 15 July 2010

Workers and expats in Qatar can gain from cheaper rents and more housing choice in Doha, according to the latest property report

Asteco's second quarterly report this year has found that the "continual stream" of new housing supply on the market has exerted considerable downwards pressure on some parts of the rental market

Areas that expats could consider for cheaper rents include the West Bay area and The Pearl

However, rental demand is still very high in some pockets, such as the Lagoon, because the shortage of executive properties

Though the short-term news for property investors was not positive, Asteco has predicted that long-term gains would come into place because of the government's diversification strategy

"With the continued growth in GDP and the government's focus on creating more business and investment opportunities beyond oil and gas industries, Qatar offers an attractive location to foreign business and workers

"If this translates to a rise in new jobs and expatriates, it will increase demand and help stabilise the market," the report's authors have predicted