PROPERTY MARKET HIT BY LOW DEMAND
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%.