What’s on your mind when you think of a perfect place for international property investment? Do you look for an economy that’s booming? One with a high standard of living? A location with great weather year-round? Or a state where the government has openly embraced foreign property ownership?
Qatar ticks all these checkboxes, which is why it is an excellent investment destination for expats. With one of the highest per capita incomes in the world, the oil-rich state is home to over 100 nationalities. The country is so popular among expats that of the total 2.9 million people, only 15% are Qatari nationals. No wonder properties for sale in Qatar sell out so quickly.
If your Qatar property search is running into dead ends, this guide will help you familiarize yourself with the country’s real estate market.
New permit rule
Qatar has attracted huge investments worldwide as it secured the contract for FIFA World Cup 2022. After elaborate planning, the Qatari government 2022 allowed foreign investors to buy the property and receive permanent visas. The new rule is the QR28 rule, which applies to all residential, retail, and commercial properties. The new rule has made it possible for expats to lease and own apartments for sale in Qatar.
As per the new property ownership rule, there are two permits options-temporary and permanent. Expats who invest QR730,000 or more than US $200,000 will get a temporary residency permit that will allow them to live and work in Qatar. For a permanent residency permit, foreigners can invest more than QR 3.65 million (about USD$ 1 million). A permanent residency permit makes you eligible for all benefits, such as free healthcare, education, and premium investment opportunities in exclusive economic sectors.
If you are planning a comfortable life and secure future in Qatar, then FGREALTY can help you locate the best commercial properties and villas for sale in Qatar. Our real estate agents have been assisting expats in discovering the most luxurious properties for sale in Qatar for over a decade. We are one of the country’s most trusted real estate brokers for luxury property searches. Whether you are looking for villas for sale in Qatar or office space, we can help you locate the best properties quickly. FGREALTY has some of the most luxurious properties for sale in Qatar listed on our website.
Where can expats buy or lease properties in Qatar?
The Qatar government has reduced the restriction for expats to own properties opening new areas for investments. Now, there are several regions where foreigners can lease or own properties. However, before selecting any apartment for sale in Qatar, knowing which areas you can have Freehold ownership is essential.
According to the law, foreigners can have Freehold ownership in the following regions:
- Al Dafna
- Al Kharij
- Al Khor Resort
- Al Qassar
- Al Wasail
- Jabal Theyleeb
- Onaiza
- Rawdat Al Jahaniyah
- The Pearl Qatar
- West Bay Lagoon
And, if you’re looking for leasing properties for sale in Qatar, then you can explore these areas:
- Al Khulaifat
- Al Mirqab Al Jadeed and Fereej Al Nasr
- Al Refaa and Old Al Hitmi
- Al Sadd
- Doha Al Jadeed
- Doha International Airport area
- Fereej Abdelaziz
- Fereej Bin Mahmoud , Fereej Bin Mahmoud
- Mansoura and Fereej Bin Dirham
- Msheireb
- Najma
- New Al Ghanim
- Rawdat Al Khail
- Salata
- Umm Ghuwailina
You must be careful with selecting the property because expats can neither purchase nor lease properties in Qatar legally outside these regions. Once you have chosen the right property matching your requirements, the next step is to close the deal by signing the contract agreement.
Finalizing your purchase
Usually, you will be required to pay 30% of the property’s total price as the down payment when signing the contract. You should always hire a lawyer to look into a contract before you finalize the deal. FGREALTY agents help you at every stage of the property purchase and ensure that the details are not missed in the Arabic-to-English translation.
After the property deal is locked, you must contact the real estate registration authorities and department to register your property. The Ministry of the Municipality is responsible for property registration; on average, it takes up to 30 days to buy a property in Qatar. The complete procedure concludes when both parties sign the sale agreement of the contract.
Conclusion
Qatar’s government is encouraging and welcoming foreigners more than ever before. Furthermore, FIFA World Cup 2022 has prompted several development projects in the country, making it a highly lucrative investment opportunity. If you want to buy properties for sale in Qatar, this is a suitable time.
FGREALTY is your trusted partner for Qatar property search helping expats locate the most luxurious properties for rent and sale in the country.
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