Tuesday February 07, 2012 |
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OBuying Off Plan and Investment Property in Qatar
An emerging economy and real estate hotspot. property in qatarIf you’re looking to the Middle East region for the latest property hotspots or you’re interested in diversifying your investment portfolio then it may well be time to consider the emerging property market in Qatar.
Qatar has emerged as one of the most eye-catching real estate hotspot and property market. Real estate in Qatar offers property investors the chance to buy some of the most lucrative property investments available on the global real estate market.
The real estate boom in GCC countries has made the region an important investment and tourism hub. Capital surplus, geographic location, and investment legislations have all combined to make the real estate sector the prime attraction of local and foreign investments in the Gulf region, and the main catalyst of growth in the region's economies. Since oil was discovered in Qatar back in the 1940’s this once economically poor fishing and pearling region has gone from strength to strength economically and now has an economy and standard of living to rival that of any modern country.
Located in the Arabian Peninsular and bordering Saudi Arabia to the South, the emirate isotherwise surrounded by the Persian Gulf and is independent and has been since the early 1970’s. In recent years the Qatari government started to encourage foreign investors to buy property on luxury new developments in Qatar.
Foreigners are allowed to buy property in specific areas of the country for 99 years, extendable for a further 99 years, and the property is transferable to their heirs. Non-Qatari nationals who buy property in the country will be granted permanent residence there. The three main ones are The Pearl Qatar, West Bay lagoon and Al Khor but other places are now becoming available.
