WHAT DO RENTAL PRICES LOOK LIKE 1 YEAR LATER?

WHAT DO RENTAL PRICES LOOK LIKE 1 YEAR LATER?

QL Properties
By QL Properties
The FIFA World Cup ended at the end of December in 2022 and at the time, there was a very high demand for residential property in Qatar. Not only Qatar but neighbouring countries saw a surge in bookings too. Very often with high demand, there is an increase in price and we were all witness to the increase in short term rentals costs over the World Cup Period. 
 
To read our World Cup Stadiums article, click here
 
 
We received many messages from our social media followers who were looking for alternative places to live. Some were not able to renew their contracts and some had seen an increase in rental costs. We also received comments from residents who were not happy about the cost of rent and wanted to know if there had been any change.
 
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So twelve months on, we wanted to show a comparison from February 2022 to February 2023. Sandwiched in between was of course the easing of Covid 19 restrictions and also the (the greatest) World Cup tournament, ever.
 
We took the example of a fully furnished one bedroom apartment in various locations and compared the average rent of the thousands of property listings on our website, from hundreds of real estate companies and brokers.
 
To view all 1 bedroom apartments, click here
 
 
Take a look at the data below for some surprises. 
 
LUSAIL
February 2022 average price - 7,750
February 2023 average price - 8,671
 
Lusail saw an increase in rent of nearly Qr1,000 per month compared to last year. The popularity of Lusail continues to increase with the introduction of new places of interest such as Place Vendome, Al Maha Island, Velero Hotel, Crescent Park and Lusail Boulevard. 
 
To view all residential properties in Lusail, click here
To view all commercial spaces in Lusail, click here
 
 
THE PEARL ISLAND
February 2022 average price - 10,085
February 2023 average price - 9,308
 
This Mediterranean-Arab inspired location is a thriving living space and tourist destination. With thousands of people choosing to spend their evenings and weekends at the various attractions, The Pearl Island is more popular than ever. The decrease in the average rental price sees one bedroom units become more accessible to prospective residents. 
 
To view all 1 bedroom apartments in The Pearl Island, click here
To view all properties in The Pearl Island, click here
 
 
WEST BAY
February 2022 average price - 8,857
February 2023 average price - 6,251
 
Qatar's business district, West Bay, sees a significant drop in the average rental price compared to February last year. With many residential towers and long & short stay hotels dropping their prices, serviced apartment living became more accessible than ever.
 
To view all residential properties in West Bay, click here
To view hotel residences all over Qatar, click here
 
 
AL SADD
February 2022 average price - 9,115
February 2023 average price - 7,050
 
Did the decrease in rent prices have something to do with Xavi leaving the Al Sadd SC to go to FC Barcelona? Most likely not, but Al Sadd sees probably the highest decrease in the average price of a one bedroom apartment than any other location. With more affordable units opening up around Qatar, particularly in Al Wakrah and Al Wukair, this could be a reason for the more competitive pricing in Al Sadd. 
 
To view all properties in Al Sadd, click here
To view all properties in Al Wakrah and Al Wukair, click here
 
 
OLD AIRPORT
February 2022 average price - 3,500
February 2023 average price - 3,984
 
To everyone's surprise, the average price in Old Airport actually increased. Old Airport is a popular location sitting between D and E ring road and easily accessing Al Thumama and Hamad International Airport. Old Airport is also home to the famous Matar Al Qadem Street, a highly convenient stretch of road with useful businesses not to mention being surrounded by strip parks.
 
To view all properties in Old Airport, click here
 
 
Stay with us and be sure to join our social media pages for more updates on real estate developments in Qatar.
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