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Latest news from Qatar
Five expatriates owners of properties
"Abdullah Ibrahim al-Sada: dream homes for expatriates"
Doha Municipality yesterday introduced five beneficiaries of a programme allowing non-Qataris to buy residential properties on a renewable leasehold of 99 years in Qatar.
The scheme, backed by a decree issued in 2004 and a Cabinet decision in 2006, would allow the prospective buyers to stay in Qatar practically without a sponsor. The ownership of the property would move to the “first degree” inheritor in case of the owner’s death.
Abdullah Ibrahim al-Sada, the office director of Real Estate and Residential Units Registration for non-Qataris, told reporters that villas admeasuring at least 400sq m and apartments 75sq m could be bought by interested expatriates.
The official reiterated that under all circumstances, the Ministry of Interior’s approval was required and the State had the right to veto the process for security considerations. There was no preference on the basis of an applicant’s nationality.
The five buyers who were introduced included two Egyptians, an Iraqi, a Pakistani and an Indian. They have been issued “certificate of usufruct” approved by the Ministry of Municipality and Urban Planning.
They have bought properties in Al-Sadd (two of them) and Najma (three).
Applicants should provide a good conduct letter from their home country and a photocopy of the passport before referring the matter to the Ministry of Interior for approval.
The official said that the owners of property, if employed, can transfer their sponsorship with the consent of the current sponsor.
“If they are no more working and their sponsorship has been transferred,” the official said, “the expatriate owner of property will be exempted from an exit permit to leave the country.”
The two-year ban on return of expatriates also does not apply to the owners of property.
The areas where expatriates can buy property are: Musheirib, Freej Abdul Aziz, Doha Jadeed, Ghanim Al-Atiq, Al-Riffa, Al-Hitmi Al-Atiq, Salata, Bin Mehmood, Rawdat Al-Khail, Al-Mansoura, Bin Dirham, Najma, Umm Ghwailina, Al-Khulaifat, Al-Sadd, Al-Mirqab Jadeed, Al-Nasr, area around Doha International Airport, Al-Qisar, Al-Dafna, Onaiza and Lusail, Al-Khiraij, Jabl Thuailab.
Only properties in Al-Sadd and Najma area are available so far, “as the process of classifications have been concluded in these two areas only.”
Qatar Islamic Bank’s mortgage finance manager, Hassan Nammour, said his bank was the only one in the country which gave long-term loans to expatriates who wanted to buy properties.
Source: Gulf-tiems.com
My old thread related to this news: http://www.qatarlivi...
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Comments
gilani99 said
Good News for rich people ...I very much like the condition of exemption of Exit Permit to leave the country.
positive said
SPEED, How about THE PEARL ...SPEED,
How about THE PEARL QATAR?.... I don't see it in the list of places where expatriates can buy property. Can you enlight me please?.
SPEED said
positive.... If I am not wrong Pearl Qatar is a Freehold ...properties,
Read more about Pearl Qatar: http://realestate.th...
Whereas the properties offered inside Doha city are on lease basis i.e 99 years only but as per the today's news the 99years lease can be transfer to five beneficiaries now. Which I think is a good move.
as stated above in the news:
"Doha Municipality yesterday introduced five beneficiaries of a programme allowing non-Qataris to buy residential properties on a renewable leasehold of 99 years in Qatar."
umm-salayum said
yes and all that money you ...yes and all that money you paid for "YOUR" home, is not your home on the end , after 99 years it is gone , right?!
Who gets the house and what about all the money, is almost the same like renting ,money gone , bye bye......
I remain skeptic
SPEED said
umm.... if you see this from the otherside of the mirror ...many expatriates can make money out of it.... A huge Money I would say.
From my point of view, this is good for investment but not for long term living unless Govt. of Qatar provides some facilities to the owner of the house such as schooling, medical etc... and a gurantee permanent stay.
One negative point is that if someone has 'Security Issue' and he is asked to leave the Country he is a looser.
Because it is clear in the article above that :
"The official reiterated that under all circumstances, the Ministry of Interior’s approval was required and the State had the right to veto the process for security considerations. There was no preference on the basis of an applicant’s nationality."
positive said
Thanks SPEED ...for your information.
Last but not least.
Could you please tell me what is the essential difference between FREEHOLD and LEASEHOLD?.
sallu679 said
a nice one ...umm -salayum the """"house after 99 years money gone is not right"" .........u can sell the house when you want to......i say this is good for all the expatriates who pay huge rents (10,000 and more)....i believe that when someone wanna sell it later on they will get back what they have invested....the headache is the government formalities the papers form blah blah....got to enquire will let QL know insha allah
thankyou
Paul R said
Freehold and Leasehold ...Freehold Property
If you purchase a freehold property, you will own the home, the land it is built on, and you will have the right to live there for as long as you please. You can make moderations to the property within restrictions of the law and planning restrictions. You may need permission to make structural changes, particularly with listed buildings (old buildings). Most houses are sold freehold. Flats can be sold freehold, but very rarely, they’re usually leasehold. However, flats are increasingly becoming Freehold because of a legistration that is making it easier for leaseholders to buy the freehold.
Leasehold Property
If you buy a leasehold property you are actually buying the rights to live in a property for a set period of time. You won’t actually own the property, or the grounds it is situated on. Most flats are leasehold; with the lease, it means you are obligated to pay ground rent to the freeholder. The ground rent will cover the costs for communal maintenance repairs. The lease should stipulate how the service charge is worked out, and how it is divided between the other leaseholders. It’s important to calculate all these costs before committing to a leasehold property, as you may not have budgeted for the additional costs.
Once the set period in the lease expires, the ownership of the property is given back to the land owner. Most leases are roughly 99 years; however, you can get an extension. If anyone is buying a leasehold property, it is important to find out how long the lease is for as it will affect the value of the property.
Why do people get leasehold properties? Well, because most flats are leasehold, and it means everyone living with in the same building has to split maintenance costs in respect of the common parts of the building and the communal areas.
It is possible to extend the leasehold to up to 999 years, and you can actually purchase the freehold, but at a cost.
SPEED said
positive.. from the words 'Freehold' it is clear that you can ...own the property for life and 'Leasehold' properties are normally set for limited period and after the expiry of the leasehold contract the property will go back to it's original owner. Most cases leasehold properties are for 99yrs.
you can read more about properties on : http://www.propertyi...
As mentioned by Paul R above.
lusitano said
No offense for the Qatari ...No offense for the Qatari people, but considering many issues that puts any human being's conscience at uncomfortable levels (human rights, weather, individual, media, political and many "etcs" freedom among many many other negative issues), Thank you but NO way!
Honestly, I could thing of 100's other sustainable countries in Asia, Europe, Africa, Americas and Oceania, with beautiful weather, landscapes and people that I would invest before thinking to invest in a region that is eventually condemned to be reconquested by nature... it's just a matter of time!
jhort said
The property ...The property is only worth what a person is willing to pay. Dubai is a prime example and eventually the same thing could happen here. You take out the loan and pay with your housing allowance which seems like a win win, but once the demand is gone you may not even be able to sell it for half of what you bought it for. If you lose your job and are still forced to pay the loan then what? In the end you end up losing the difference. A very dangerous risk. If you like Russian roulette then it's a good investment for you. Invest in countries that are more stable and have a history of growth.
Kernowman said
Rates! ...Personnally, I think its amusing that no matter where you are buying the law will always change to suit Qatar.
So if its Freehold today it'll be leasehold tomorrow after the cheque has cleared in the recipiants account.
Plus if your like me and having to take a mortgage loan with a local bank for 9% and upwards whereas I could purchase somewhere else like the UK for 4% and possible lower.
There is to many hidden laws here for anyone to think about purchasing a property here. Sorry to be negative.
saim3383 said
well, this issue looks a bit ...well, this issue looks a bit attractive to me, at least they allow us to live for a long period.
what security issues could be?
i'm agree to SALLU679 that ppl are paying huge rents, u dont pay monthly, actually u pay yearly. so why not to buy a property. i dont think that you buy a property for 99 years and the govt. will refuse to renew it (OMG! my money is gone) until you have a bad influence on govt.
i think we should have conversation with those ppl who bought the property.
------------------------------------
I May Not Be The Best,
But I Am Not Like The Rest.
lusitano said
saim3383,I had ...saim3383,
I had conversations with some of those people and they are not happy!
Have you ever asked yourself why even locals seam to disappear from here during the unpleasant summer days? Have a look outside of your window right now and you will have a hint!
Will Doha ever attract summer holiday tourists?
Will you retire in a country like Qatar?
The answers to these questions, may guide towards the decision that suits you better!
miillee said
location lusail includes ...location lusail includes Damac properties right?
saim3383 said
thanx lusitano ...:) what is the point?? ppl go out of country for summer vacations, even i do... :) bad weather doesn't bother me to buy a property.
and why those ppl who bought the property here r not happy ... what exactly they r suffering???
------------------------------------
I May Not Be The Best,
But I Am Not Like The Rest.
lusitano said
saim3383, As you probably ...saim3383,
As you probably know, I was not referring to "bad weather"; I was referring to harsh environmental conditions of this part of planet Earth, unsuitable for humans to survive in!
PS. people here leave to escape the inferno!
aviduser said
From what I hear ...Not every Visa application is accepted.
Jones1 said
i agree ...i agree with Kernowman .. thx for bringing that up.. laws here change overnight..and you never actually know the true value of the property until there is no more demand.. u might end up with one-fourth of wat u paid for when you sell.. example Dubai!!
The Dude.... said
Buying in Qatar? For ...Buying in Qatar? For what?
For the excellent 'care' of expatriates? No.
For the reliable/stable governmental laws? No.
For the excellent pension plans? No.
For the stability of the local economy? No.
For the entertainment and freedom we enjoy? No.
For the impeccable health care? No.
For the excellent and affordable education? No.
Qatar is an excellent country with excellent peoples, but just not stable and mature enough. Arabs to stay here forever I can imagine, westerners no way.
However, Arabs are not stable either 1 problem between governments(like the Jordanians and Egyptians have/had) and then what?
The Dude.... said
Jones, funny you say Dubai ...Jones, funny you say Dubai while looking across the border is not needed.
Look at the pearl.
saadjustice1 said
keep smiling good bless all ...i love all human been, keep smiling god bless all,
fuzzy said
What if one runs his own ...What if one runs his own business in doha and he buys a property. Will he be exempted from the requirement of havin a sponsor????
lusitano said
fuzzy, no foreigner can have ...fuzzy,
no foreigner can have their own business in qatar. you will always need a local partner/sponsor.
MissX said
Just curious. Does the fact ...Just curious. Does the fact that it is leasehold, mean that once you have paid the amount to "buy it", after 99 years once the property lease has probably been passed onto a next of kin, are they going to be obligated to "buy it" at full price again to be allowed to live in it for another 99 years?
Also, are properties on the The Pearl going to be leasehold too, or freehold?
aviduser said
Common misconception ...There is only one law for all property owned by ex-pats here and that is leasehold. I think the Pearl have stretching the truth by saying it's freehold.