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DOHA: The demand for real estate properties in Qatar has shown a remarkable recovery registering a double-digit growth after a relatively lull market situation owing to summer vacations and Eid holidays.
According to Qatar's leading global real estate company, DTZ, there is a significant increase in enquires in both residential accommodation and office space in the month to date, compared with the same month in 2015.
The number of residential enquiries received in the month to date were up 23 percent compared with the same period during August and 17 percent compared with September 2015.
The most popular enquiry was for two-bedroom apartments between in the range of QR9,000 and QR12,500 segment closely followed by one-bedroom apartments. The preference was for furnished apartment accommodation.
The search in the villa market was for four-bedrooms within a compound on an unfurnished basis was also significant.
There was also a surge in enquiries for office space, predominantly from the private sector, with 250 square metres (sqm) - 500sqm the most searched sizes.
Edd Brookes, General Manager of DTZ, said: "While we would normally expect a busy September following a relatively long summer season, the volume of enquiries being significantly higher than the same period during 2015 is surprising. Whilst there is an element of tenant churn this time of year, it is good to see that a large portion of the residential demand is from expats moving to Qatar for the first time."
The prime residential market had shown signs of softening in June however Brookes puts this down to seasonal fluctuations as well as the effects of a number of well publicised bouts of corporate restructuring exercises.
DTZ Qatar is a member of the global real estate services business, Cushman & Wakefield. The firm brings international best practice and local expertise to the market. With a long standing track record in the Qatari market.
© The Peninsula 2016