Rents to rise for 2 years and then drop

dweller
By dweller

From today's Gulf Times:

HOME rents could continue to rise for the next two years before they start coming down, an industry consultant has said.
Reg Barichievy, general manager of Colliers International, a global affiliation of independently-owned real estate services firms, told Gulf Times that the supply and demand of housing units could match by then.
“When supply meets demand levels, the rents should come down,” said Barichievy, who has just opened his office in Doha.
Currently, apartments and villas in the country are “overpriced” by at least 25%. But, after two years, rents would come down by 15%, and then gradually by as much as 25%.
He said there were no vacancies of residential accommodation as opposed to office space. According to an estimate, 200,000 residential units are now available in Qatar, which, according to Barwa Real Estate, is short by 40,000.
Besides this, an additional 10,000 houses would be required every year since the population is increasing by 47,250 every year.
He denied a suggestion that the rents were probably being propped up by cartels of landlords or real estate agencies. At the moment, he said, there was no “evidence” to suggest that.

From Gulf Times

COVID-19 Banner
By amnesia• 13 years 2 months ago.
Rating: 4/5
amnesia

LDOHAMAN , Qatar is NOT 40% more than Dubai.

Are you insane! It's at least 10-20% LESS.

__________________________

I Love Qatar - http://www.iloveqatar.net

By Bicolano• 13 years 2 months ago.
Bicolano

IF aLL the Expats WIll leave DOHA Due to High cost of Rent... there will be a lot of vacant Villas. Bldgs.. even now there are many vacant Bldgs. around Doha...Its becoz its too expensive an ordinary worker can't afford to rent it... we all knew these things.....we dont need to argue in these post.....those who say its cheap IM me im looking for a cheap but decent room ...

By new intown• 13 years 2 months ago.
new intown

My husband believes they are now falling as he has just signed a lease. He says it is like a stock whenever he buys they fall and whenever he sells they go up.

By anonymous• 13 years 2 months ago.
anonymous

Another basic trouble is that when a villa or a house is sold, the new landlord can hike the price as he wants and anyone who refuses to pay will have to leave.

This happened to the villa I am living in this year in March, the new owner hiked the price 100% and altogether there are 4 small villas where he hiked the price 100% for all.

He made a contract with everybody for one year with no maintanace contract - needless to say the villas are all in a run down state, but to look for something else is too difficult so we paid up - what else to do.

My personal opinion is, that Qatar is much more expensive that Dubai, the same items in Carrefour in Dubai cost nearly 20% less than in Doha not to forget that Dubai has a much greater selection that Qatar.

Furniture is much cheaper in Dubai and theere the selection is much more customer friendly than what is offered here in Qatar.

Two year ago I was informed by IKEA that they were opening a branch here in Qatar in the next few months - hmm, now two years have gone bye nothing happened.

However, it is my choice to live here as I prefer Doha any day to Dubai and things have improved greatly since I came here all except the rents.

By anonymous• 13 years 2 months ago.
anonymous

We are not argueing.We are protesting against the situation.

By anonymous• 13 years 2 months ago.
Rating: 5/5
anonymous

has taken steps. But our first expectations were rents will down after Asian games and then we expected after one year rents will come down. Almost one year after asian games, there is still no evidence that rents are going down. Still its going up and up.

And amnesia, there is no use in comparing rents in London with Doha. Because London is a established town long back and doha is in the developing stage. We can compare with other gulf countries like Dubai, Saudi Arabia, Bahrin, Oman and Kuwait.If you compare the rents you can definitely see that 40-70% more in Qatar.

By anonymous• 13 years 2 months ago.
Rating: 4/5
anonymous

I wonder which is better Dubai or Qatar?

OR Is the frying pan better or the fire?

You guys are argueing about an uncredible peice of information which says that the rents will fall in 2yrs.!!!

Whats next .....Elvis is going to perform in Doha?!?! (would feel better if general manager of Colliers International, a global affiliation of independently-owned real estate services firms, told Gulf Times so)

By amnesia• 13 years 2 months ago.
amnesia

Oh you think so?

I live in England and have alot of friends in London and you CANNOT get a penthouse in London. So please don't exaggerate or give falst facts.

As for Value of life in Dubai being better. Can someone please elaborate?

Cost of living is MUCH higher. So someone please explain this logic.

And for the comment saying 'there is inflation for no good reason'. Read up of developing nations boom and impact on the economy.

@cooldown, if you've read ANY posts by people, you'll see the government is taking this matter to heart. So relax with the caps and do a bit of searching around the forums.

There really is no use explaining things if people don't bother to read.

__________________________

I Love Qatar - http://www.iloveqatar.net

By anonymous• 13 years 2 months ago.
anonymous

As per my observation nobody wants the rents to come down. Because rise in rent is making local or native people richer and richer by squeezing the money from those people, who envolved in the development of Qatar.

Area and population wise,Qatar is a asmall city like and every thing is possible here if they wants to something in 24 hours.

THERE WONT BE ANY RENT FALL. BECAUSE PEOPLE ARE ALREADY ADJUSTED WITH THIS SQUEEZING.

IS QATAR IN A UNCONTROLLED STAGE?????????????

By Willys• 13 years 2 months ago.
Willys

Well Actually Doha should be cheaper. I agree Dubai is not expensive if you compare the value of you are getting there with the same amount you are paying here in Doha...It is nothing to compare ..there is no rational here behind real estate prices , it is just over inflated for no good reason ..

Have a nice time all the time !

By Terramax• 13 years 2 months ago.
Terramax

Dubai is NOT more expensive than Doha. It is as expensive as Doha. However for the same price you get MUCH better quality in Dubai.

Not to forget that for the price of a measly 2 bedroom in Doha I can rent a penthouse in London.

By KellysHeroes• 13 years 2 months ago.
KellysHeroes

Think the media is highlighting the rents rise and its impact. even most businessmen are suffering.

My humble information is that the government is working hard on this issue to control the real estate market. Authorities are very aware of the situation but one has to admit that we are having here a liberal economy, hence rents cannot be enforced to be reduced. The best thing that can be done - and I believe it is in process - is to enforce legislations that will control the sharp increase in rents and help speed up the process of constructing new accomodation units and provide the necessary infrastructure for new areas.

Eventually things will stabilize as many factors are involved and everybody will be happy

By KellysHeroes• 13 years 2 months ago.
KellysHeroes

one does not have to debate abot wich is cheaper in terms of rents; Qatar or Dubai.

anyone can simply visit a real estate agence and check the Purchase (usufruct) cost of properties in Doha and Dubai and this will be a good indication for the rents.

By amnesia• 13 years 2 months ago.
Rating: 4/5
amnesia

Just because it's YOUR opinion, it doesn't make it 'official'.

I travel to Dubai regularly and I know exactly what I'm saying.

So keep living in dream world.

__________________________

I Love Qatar - http://www.iloveqatar.net

By dinkyw• 13 years 2 months ago.
Rating: 4/5
dinkyw

It is a marvellous suggestion to have the media interview those that are struggling, perhaps someone "up there" will listen. However, will they be allowed to announce their findings?

I am researching all the newspapers to find the article that said it is offical that Qatar is the most expensive place in the Gulf and will post it accordingly. I lived in Dubai last year and paid Dhs3,000 per month for a 3 bedroomed flat. Here it is 6,500 - 8,500 for a lesser product.

I have an attitude and I know how to use it!

By SantimanoA• 13 years 2 months ago.
SantimanoA

I have been reading all the posts here. This is a hot topic here in Qatar today and no matter how much we discuss we will have to live with this problem for a long time and maybe sometimes voice our concerns.

Regarding the Article : I think that this article is baseless and lacks substance. But it is a fact that as supply meets demand the price will decrease. This is in fact the only logical statement in that article. This article seems like a hopeless consolation to all those having problems with rent here in Qatar.

Regarding Rents in Dubai and expense in Dubai : I totally disagree with dinkyw and I agree with what Amnesia has said about the same. I have been a resident in Dubai for the last 3 yrs and I have never managed to find a flat in Dubai that was cheep. People there are also facing the same problem. There are hikes in Rent in Dubai, Sharjha and Abu Dhabi. In UAE the only places where rent used to be cheep weare Karama (Dubai), Sharjha and Al Ain but that has also changed.

Amnesia you say that you have written a letter to the Ministry on behalf of expatriates. I'm not aware of this. However I'd like to thank you for doing this.

I think its time for the news papers here in Doha to actually interview those who are having a hard time with rent. This problem has taken a toll on many expatriate Families here especially Asian families that run on low wages. And as for such assumptions regarding rent dropping in the next two years I say "baloney !! thats only a hopeless way of consoling those who look forward to a Qatar that is more affordable"... Let's Pray that this issue with rent does not continue....

By amnesia• 13 years 2 months ago.
Rating: 2/5
amnesia

You show me the average price of an apartment in dubai.

Just because you say something, it doesnt make it official.

I always do my best to provide stats, facts, and figures with my information, where's yours?

at tortue, I'll give you an example when you can give me an example of when any country was in the same position in the gulf.

ALL GCC countries are in a new era of development. Unseen before in history, especially in the history of Qatar or the Emirates. Things have to happen at least MORE than ONCE for a person to be able to give you an example.

I'm tired of this thread as people seem to simply want to badmouth rather than discuss and debate in a logical manner.

Only person that I took seriously so far is Qatarisun.

__________________________

I Love Qatar - http://www.iloveqatar.net

By Tortue• 13 years 2 months ago.
Tortue

After reading all the comments,

I still could not see the answer of this simple request. (I mean to whom believes that rents will go down).

can you give me one example in any of the Middle East countries where rents comes down by 15% within the last 10 years....

Follow The White Rabbit

By dinkyw• 13 years 2 months ago.
Rating: 2/5
dinkyw

Driving around Qatar and observe how many vacant places there are.

Europeans are into SHARING HOMES not stuffing as many people as they can into one room.

Landlords ARE GREEDY and the Government doesn't give a monkeys.

It is OFFICIAL that Qatar is the most expensive place in the GULF - yes more so than Dubai.

New "CONSULTANT" in town - perhaps he has not lived here long enough to give an informed opinion.

I have an attitude and I know how to use it!

By amnesia• 13 years 2 months ago.
amnesia

guys, you are totally ignoring what I'm saying.

You are saying that this person may not be credible. That's fine.

However in life we can't base life on assumptions.

At the end of the day all we can do is try to solve the problem and try our best to live with whats going on.

He could have said anything, but at the end of the day we still have to wait and see.

I'm on your side here!

Otherwise, why would I have written a letter to the ministry on behalf of expats? I would have said "I don't care, live with it" and went on my way!

edit:

On a side note, he's not even a financial consultant. He simply works in the industry and was giving his opinion.

__________________________

I Love Qatar - http://www.iloveqatar.net

By KellysHeroes• 13 years 2 months ago.
KellysHeroes

if you read the cosultant report carefully and weigh the contents and his conclusion, you can tell easily he isnot credible

By knoxcollege• 13 years 2 months ago.
Rating: 4/5
knoxcollege

The Goverment said the same thing two years back. At that time it was some financial mathematics guy who did some stochastic modeling and concluded that rents will decrease in two years. The Government paid him for hearing what it wanted to hear. The people waited for two years and now the Government wants them to wait two more years. After two years it will be two more years.

The Government could have easily controlled the situation if it wanted two years ago

Anyways you have your own building and accomodation so it is not a problem that you will ever face. but for many people it is a key issue.

Anyways its up to you whether you accept or not that there is a problem. but closing your eyes and saying all is well wont solve the problem.

Good Day Mr. Amnesia

By amnesia• 13 years 2 months ago.
Rating: 3/5
amnesia

You are 1 millino percent wrong.

Check prices right now and you'll see Dubai is MORE expensive than Doha.

Please don't spread false facts.

@Kelly, the consultant said that it would decrease by 15% (So +25 - 15 = over all 10% increase, however it would be follwed by gradual decrease by 10 more percent.) That's what he's saying.

Kelly I support your opinion, but too many people here but you just said "Who qualify the genius "consultant" as a credible one. Having a guy with "accent" and suit and business card does not entitle him to be a consultant, let aside being considered a qualified one. "

But the question I ask is, how do you know he isn't?

My point being that people prefer to believe anything that's negative rather than anything thats positive.

We received his message, now we wait, simply arguing that it wont happen doesn't change anything.

However encouraging the government, writing letters to the ministry and trying to encourage MORE people to come WILL decrease the rent price. (like I have done)

__________________________

I Love Qatar - http://www.iloveqatar.net

By KellysHeroes• 13 years 2 months ago.
Rating: 5/5
KellysHeroes

We know there is an effort by the government to reduce rents and inflation.

And we all hope that the rents will go down.

But checking the predictions of the "consultant", one will conclude that the rents will NOT go down. Simply"

(Cuurently overpriced more than 25% + X unknown increase over the coming 2 years - Drop of 15% ) and later he says that rents WOULD drop till 25% without predicting the period.

So it is obvious that rents will not drop down (at least he ignored the increase over the coming 2 years)

Besides. Who qualify the genius "consultant" as a credible one. Having a guy with "accent" and suit and business card does not entitle him to be a consultant, let aside being considered a qualified one.

By mannarasala• 13 years 2 months ago.
mannarasala

Now Dubai is far cheaper.People started thinking to jump to Dubai.Barwa or Karwa....People are suffering.

By amnesia• 13 years 2 months ago.
Rating: 2/5
amnesia

@hamlet, guess you are already being proven wrong because I see Qatar getting greener by the day.

Anyway, it will be true in my opinion, especially with the government forcing vacant apartments to be rented next year.

side note: it's so funny how people CHOOSE not to have any hope NOR believe a specialist though.

If I started a thread saying that rent would increase to 10billion QR for a 1 bedroom apartment, I'll bet you'd all agree :P

__________________________

I Love Qatar - http://www.iloveqatar.net

By anonymous• 13 years 2 months ago.
Rating: 4/5
anonymous

Nothing gonna happen..... wait for BARWA

http://www.buysellqatar.com

By knoxcollege• 13 years 2 months ago.
Rating: 3/5
knoxcollege

if the rents dont drop after two years, chances are I might drop dead.

By Tortue• 13 years 2 months ago.
Rating: 2/5
Tortue

Dear Reg,

can you give me one example in any of the Middle East countries where rents comes down by 15% within the last 10 years.... He!, you know what? Let's even make it 10%... I would not like to put too much pressure on you... You're independant.

Follow The White Rabbit

By anonymous• 13 years 2 months ago.
anonymous

Good maths Population increase = 47,250 rooms required =10,000!!!

Any evidence to say that population increases by only 47250 Per year (ie in a month only 3937 new people comming to Qatar?)

By King Edshel• 13 years 2 months ago.
Rating: 4/5
King Edshel

from paying 3000 a month to 7000 now :( I don't want to quit on having hope, but with this houses rents issue, ...there is no hope :(

By nicaq25• 13 years 2 months ago.
Rating: 4/5
nicaq25

house rent went down lately say....."it's true!"

Then I will believe....otherwise, cut the crap!

I'm one of the victims of successive increase of house rental:(

By anonymous• 13 years 2 months ago.
Rating: 5/5
anonymous

The comments on the leasing is made to pacify the expats. We all know that this will not happen and that this has been posted to draw again more expats not to mention the Gulf Times is run by Indian expats.

The newspaper is restricted to what it can type and produce according to their expats:- However let us not loose reality on this subject:

1) Many expats are leasing villas and leasing them to their profit in using extorionate prices for one room.

2) It is easy to see in classifieds who are the culprits:

3) Not necessary to be shy to admit this.

4)Expats know it. How often do you see a room offered to a (European)almost never, if, there is a offered it is either (Phillipino) or Indian (Keralites) (muslim).

Even recently on the classifieds in QL (tailoring classes offered to Keralit ladies only).

If a room is offered to a European expat. it will be something in the region of QR 4.500-- (oh !upper class and not without swimming pool of course).

Please don't put the rents on QA as a subject we are fully qualified to recognise the situation and I feel it is not a thread to be discussed any more.

quote: “When supply meets demand levels, the rents should come down,” said Barichievy, who has just opened his office in Doha.

so so so: he just opened his office here an has co much puplicity.

By KellysHeroes• 13 years 2 months ago.
Rating: 5/5
KellysHeroes

of the type that looks at your watch and tell you the time LOL.

Personally I won't buy such report built on assumptions and estimates and not on real statistics.

The good news is that the rents - according to him - will not go down. Now it is at least 25% overpriced, will continue to rise over over the coming two years (he did not mention the percentage), then after two years will drop by 15% and then gradually by as much as 25% (did not mention over what period is that).

So cheer up guys. rents according to our friend will NOT go down.

Also welcome another consultant who will mislead the sh**t out of everyone.

By hamlet• 13 years 2 months ago.
Rating: 2/5
hamlet

yeah and they will change the sponsorship laws and Qatar will become green and we will all live in happiness that never ends....ahhhh we have been hearing that sh***t for years now, when the fact is that things are only getting worse :((((

Log in or register to post comments
Qatar to provide COVID-19 vaccine free of charge to all residents

Qatar to provide COVID-19 vaccine free of charge to all residents

The COVID-19 vaccine will be provided free of charge to Qatar residents, a senior health official said in an interview with Qatar TV.
Qatar will now allow foreigners to own properties in more areas

Qatar will now allow foreigners to own properties in more areas

Qatar announced today that the foreigners and foreign firms will be allowed to own real estate in more areas across the country to attract overseas funds as well as to diversify the economy.
15 awesome places through the lens of Instagrammers in Qatar

15 awesome places through the lens of Instagrammers in Qatar

Today we've decided to feature a list of 15 different landmarks and places in Qatar clicked by different Instagrammers in Qatar.
QL Exclusive: An interview with Qatari entrepreneur and shoe designer Hissa Haddad

QL Exclusive: An interview with Qatari entrepreneur and shoe designer Hissa Haddad

Qatar Living speaks to the Qatari entrepreneur, Hissa Haddad, who is the founder of Hissa Haddad footwear in Qatar, to learn more about her experience as a shoe designer.
WATCH:Qatar in advanced discussions with several pharmaceutical companies to procure COVID-19 vaccine: MoPH official​​

WATCH:Qatar in advanced discussions with several pharmaceutical companies to procure COVID-19 vaccine: MoPH official​​

A senior official has confirmed that Qatar is in advanced negotiations with several international pharmaceutical companies to procure a COVID-19 vaccine as soon as it is released for global use.
WATCH:Qatar on track to meet carbon neutral commitments for FIFA World Cup

WATCH:Qatar on track to meet carbon neutral commitments for FIFA World Cup

With sustainability at the heart of the preparations for FIFA World Cup Qatar 2022, the Supreme Committee for Delivery & Legacy (SC) is on track to achieve its commitment to deliver the first-ever carbon neutral FIFA World Cup and leave a legacy of climate action for Qatar and the region.
WATCH: QL Adventures visits X-Ten Archery

WATCH: QL Adventures visits X-Ten Archery

For this edition, we put ourselves up for another challenge. We head out to X-Ten Archery to learn more about the art of the bow and arrow.
WATCH:Qatar extends financial and economic incentives for private sector

WATCH:Qatar extends financial and economic incentives for private sector

At a regular Cabinet meeting, chaired by His Excellency the Prime Minister and Minister of Interior, it was decided that the incentives for the private sector will be extended for another three months.