A recovery in residential property sales is being anticipated as the country moves towards the November 2022 hosting of the FIFA World Cup, and with the lifting of restrictions on foreign real estate investment, according to engineer Nasser al-Ansari, chairman of Just Real Estate (JRE).
The forecast came following the Ministry of Justice registration of al-Ansari as a sector appraiser. JRE is now approved to appraise and value wide ranging real estate assets from land to full estates, potential development areas, commercial, retail, industrial and residential properties.
JRE is ideally placed to evaluate both existing and prospective developments as it consistently researches market areas and project types and has extensive buildings compliance expertise.
“We anticipate our expertise will now be sought out by developers, their lenders and investors, mortgage providers, insurers, as well as private owners,” explained al-Ansari.
JRE’s appraisal registration comes as Qatar’s residential sector moves towards a growth trajectory fuelled in part by the law allowing non-Qatari investors to purchase freehold titles on apartments in Lusail, West Bay, and The Pearl and as the hosting of the 2022 FIFA World Cup nears.
The company’s research points to a tenant trend towards affordability and quality within Qatar’s rental sector, which is witnessing an influx of new developments and increasing demand for prime property.
The company said rental levels in Lusail are likely to increase over the next 12 months, as more investors relocate to the new city and additional amenities are delivered. It points to strong investor interest in Qetaifan North as signalling a resounding vote of confidence in the country’s new iconic destinations.
Al-Ansari’s registration as an appraiser comes just two months after the company was officially registered as a professional real estate brokerage following the award by the Ministry of Justice of a license to al-Ansari, who was one of the first in the country to be certified.
