Qatar's residential real estate market is expected to grow at a compound annual growth rate of 13% during the forecast period. Qatar is one of the most vibrant economies in Middle East. The high GDP growth and influx of population, supported by employment opportunities and government policies are some of the factors driving the growth of the residential real estate sector in the country.
Qatar’s housing market remains weak, as it continues to be adversely affected by the economic and financial fallout from the ongoing COVID-19 pandemic. Supply continues to rise despite plunging demand, resulting in falling residential property prices. Qatar’s housing market is expected to continue to struggle during the remainder of the year, as the COVID-19 pandemic is aggravating the crisis in the region.
In Q2 2020, transaction volumes for residential houses fell by 26.2% from a year earlier. The total value of residential transactions stood at USD 714.1 million in H1 2020. At The Pearl-Qatar and West Bay Lagoon, residential purchases dropped 20% in H1 2020 from a year earlier. In the first half of 2020, about 2,250 apartments and 700 villas were added to the market, bringing the total stock to 300,550 units. About 2,000 residential units were completed in The Pearl, Lusail, and West Bay.