How to Buy Property in Qatar? The Ultimate Guide to Buy Property in Qatar for Expats

When you think about a perfect place for international investment, what do you picture? A location where the weather is great year-round, and the economy is booming? A place where the government has embraced foreign property ownership?

But Qatar can also be described as one of the fastest-growing economies in the world. Home to over 100 nationalities, of the 2.8 million people who reside here, only 15% are Qatari nationals.

Qatar: A Land of Opportunity for Expats

Qatar is rich in natural resources, but it also has a keen focus on the future. The country recognises that a carbon-free future could be just around the corner and is investing heavily in innovations across sectors like financial services, hospitality, and real estate, developing communities where expats can buy property, live, and enjoy its benefits. For potential investors buying properties in Qatar, this is a timely opportunity to get a head start in the next phase of Qatar's development.

This guide will cover everything you should know before buying property in Qatar, from the best areas to buy property and the process to the benefits of buying property in Qatar.

Key Insights for Expats Buying Property in Qatar

Recent Regulations: In 2020, Qatar introduced a resolution making it straightforward for foreigners to buy property and receive a permanent visa in return. The new rule applies to all properties, from residential to retail and commercial, making Qatar a destination for global investors and those looking for a great place to live.

Residency Permits:  For property investors seeking permanent residency in Qatar, the real estate investment pathway offers an attractive opportunity. By purchasing property worth a minimum of USD 200,000 in designated areas, investors can obtain a five-year residency permit to live and work in Qatar. This investment not only grants stability and long-term legal residency but also opens the door to a rapidly growing real estate market and a high standard of living in the country.

Furthermore, investors can sponsor their family members, providing their loved ones with a secure and stable environment. The process involves submitting the required documents, undergoing application review, and, upon approval, enjoying the privileges of permanent residency, making Qatar an appealing destination for property investors looking for long-term prospects in a thriving economy and cultural hub.  

The First Step: Choosing which property type to buy is key—whether off-plan or completed. Buying off-plan property directly from a developer is a great way to get in on the ground floor of a new development at competitive prices. However, navigating the process can be complicated and time-consuming, especially for foreign investors. On the other hand, buying a completed property offers the advantage of immediate availability and a clear picture of the property's condition and surroundings. Working with a reputed local real estate agent can help you navigate all the steps involved in property purchasing, including handling documentation and payment deadlines.

Prime Areas for Expats to Buy Property in Qatar

Nine exciting communities are open for expat investors and buyers to own 100% freehold property. These areas represent the best investment opportunities in Qatar for expats:

• West Bay Lagoon
• Lusail
• Pearl Qatar
• Al Khor Resort
• Al Dafna (Administrative area 60)
• Al Dafna (Administrative area 61)
• Onaiza (Administrative area 63)
• Al Kharaej
• Jabal Thuaileb

Additionally, 16 areas offer leasehold properties that international investors can purchase.

Urban Communities Offering High Quality of Life

Qatar’s real estate sector has grown significantly, providing fantastic value to expats dreaming of buying property in Qatar.

Lusail is a smart city redefining urban living standards.  Its 19 districts are expected to accommodate nearly half a million residents, professionals, and tourists. The city's services are digitally facilitated, from education and health to energy distribution.

The Pearl, Qatar is one of the most ambitious real estate developments in the Middle East. It has 10 Mediterranean-inspired precincts and numerous leisure areas and dining destinations.

West Bay is a stunning waterfront area within Doha that contains the prominent districts of Al Dafna, Al Qassar, Onaiza, and West Bay Lagoon, offering an eclectic mix of restaurants, upscale retail establishments, beautiful parks, and museums.

The Impact of the FIFA World Cup 2022

The FIFA World Cup 2022 in Qatar has drawn significant attention. As the first World Cup hosted in the Middle East, it has showcased the global appeal of Qatari culture and highlighted the nation's rapid economic growth and modernisation. This event has led to substantial infrastructure development, including new stadiums, transportation networks, and urban improvements.

The influx of international visitors and media has boosted tourism and global awareness of Qatar's offerings, making it an attractive destination for investment and property buying. The World Cup's legacy continues to benefit Qatar's economy and international standing.

Natural Gas Expansion and its Impact on Real Estate

Qatar is a progressive country with a bright future. Despite its rich heritage and natural resources, the government is forward-thinking and ambitious for new opportunities.

Qatar's projected 70% increase in natural gas production by 2050, driven by expansions in the North Field, signifies substantial potential for real estate development. The country's focus on eco-friendly measures, including carbon capture and storage and reducing methane emissions, aligns with sustainable real estate initiatives.

The expansion of LNG export capacity and investments in low-carbon gas-based solutions indicate heightened demand for infrastructure and workforce-related real estate. Additionally, the target of 5 GW of solar power by 2035 suggests a ripening market for renewable energy infrastructure and associated real estate developments. Qatar's burgeoning natural gas industry presents promising prospects for the real estate sector–investments are pouring into real estate, public infrastructure, sustainable food supply chains, and technologies.

Understanding Property Costs in Qatar

For expat investors considering Qatar's property market, it's essential to note that the residential construction sector in Qatar is poised for growth, with the market size projected to hit $12.39 billion (QR45.11 billion) in 2024, expected to reach $21.32 billion by 2029. The market has shown resilience despite the global pandemic impact, with property prices trending upwards and the average transaction exceeding $500 million (QR1.8 billion).

Notably, freehold areas in Qatar, like Lusail City and West Bay, have seen increased demand, with prices per square foot rising. For example, prices in Lusail City surged from USD 3173 per sq m to USD 3400 per sq m in the first half of 2021 and in West Bay from USD 2900 per sq m to USD 3200 per sq m during the same period. This growth trend, coupled with the influx of 13,500 new residential units expected by the end of 2022, presents attractive opportunities for expat investors eyeing the Qatari property market.  

Mortgage Options for Expats

Expats can buy freehold or leasehold property and get a mortgage in Qatar. The Qatar Central Bank has several regulations for mortgage lending to foreign investors:

• Maximum mortgage tenure cannot exceed 20 years.
• Expats must be 65 years old at the time of loan maturity.
• A minimum downpayment of 30% is required.
• Loan-to-value can be up to 70% of the property price, with the maximum loan amount set by the bank.
• Repayment cannot exceed 50% of the borrower’s income, including other liabilities.

Documents Required for a Mortgage

For salaried expats:

• Copy of ID and passport
• Salary certificate addressed to the concerned bank
• Latest six-month bank statement
• Liability letter if the loan is transferred from a different bank
• Completed bank application form
• Quotation from the developer or copy of title deed and property images
• Down payment receipt
• Security cheques post-mortgage approval

For self-employed expats:

• Copy of ID and passport
• Latest two years of audited financial statements of the business
• Copy of commercial registration
• Latest 12 months of business statement
• Latest six-month personal bank statement
• Completed bank application form
• Quotation from the developer or copy of title deed and property images
• Down payment receipt
• Security cheques post-mortgage approval

Banks Offering Mortgages in Qatar

Local banks like Doha Bank, Commercial Bank of Doha, Qatar National Bank, and international banks like HSBC offer mortgage options for expats. Researching the banks that approve the developer and financing the property you wish to buy is important.

Completing a Property Purchase in Qatar

Once you agree on the purchase contract with the seller and complete the paperwork, the property purchase will take about 30 days or less. Afterwards, you must register your property with the Real Estate Registration and Authentication Department, part of Qatar's Ministry of Justice, which takes about 10 to 15 business days.

Living in Qatar

Climate: Qatar has a dry and subtropical climate with hot summer months (May-October) and cooler months (November-April). Temperatures can range from 43°C (109°F) in summer to below 14°C (57°F) in winter.

Activities: Qatar offers numerous activities, from desert adventures and city tours to exploring its culinary delights. Popular traditions like Al Enna, the winter camping season, and visiting the Khor Al Adaid (Inland Sea) are must-experience activities.

Water Sports: Qatar’s 560+ kilometre coastline offers thrilling water sports and adventure, including scuba diving, kayaking, and exploring the Al Thakira mangroves.

Shopping: From luxury shopping at Al Hazm to traditional street markets and family-friendly attractions at the Mall of Qatar, there’s something for everyone.

Dining: Qatar's food scene is rich and varied, with popular dishes featuring a mix of spices. From traditional Qatari cuisine at Al Jasra Traditional Food in Souq Waqif to contemporary dining at Jiwan Qatar, there are plenty of culinary delights to explore.

Explore more about How to Buy Property in Qatar With Us!

Living in Qatar is an experience like no other. Our team at The Pearl Gates is here to support you every step of the way — from scouting the best locations to closing the deal on stunning properties. Our real estate agents in Qatar and Dubai are local property experts who can provide investment advice and help you rent or buy residential and commercial properties in Pearl Qatar, Lusail City, West Bay, or Msheireb Downtown and beyond.

Why not contact our property experts to learn more about buying a property in Qatar?

This blog is updated on 19/08/2024