PROP­ERTY MAR­KET HIT BY LOW DE­MAND

Qatar Today - - BUSINESS -

High prop­erty prices and in­dif­fer­ent buy­ers led to a slump in Qatar's real es­tate mar­ket in the early part of 2016.

Ac­cord­ing to real es­tate ex­pert Ahmed Al Oruqi, a re­luc­tance to buy prop­erty at old rates, which were on the higher side, led to the downslide. Al Oruqi was also of the opin­ion that since in­fra­struc­ture devel­op­ment projects were on the rise, the fluc­tu­a­tions in oil prices were not go­ing to have an ef­fect on prop­erty prices.

As far as trans­ac­tions re­lated to prop­erty were con­cerned, Al Rayyan pipped Doha for the top spot; the for­mer ac­count­ing for 30% of the to­tal num­ber of trans­ac­tions in Jan­uary, com­pared to Doha, which reg­is­tered 29%.

Newspapers in English

Newspapers from Qatar

© PressReader. All rights reserved.