Prices for Qatari real estate drop to their lowest level since 2020

According to a new report, real estate prices in Qatar have fallen to their lowest level in recent years, following four months of declines.

The Qatar Central Bank’s Real Estate Price Index stood at 202.43 in April 2024, the lowest level since January 2020, according to data published by the banking authority. The index had previously reached a low of 202.5 in February 2021.

The index, which is based on Ministry of Justice data, has also declined for four consecutive months, falling from 225.12 in December 2023 to slightly more than 202 in April.

Given the drop in prices, Qatar-based real estate marketplace hapondo believes that the Qatari real estate market will attract investors looking for bargains.

“For the opportunistic buyer, this means greater leverage in negotiating for value, using strategies such as land banking and buying a portfolio of assets,” said Ahmad Al-Khanji, CEO of the online platform for tenants and buyers.

“Real estate is cyclical, and waiting for the right opportunity to buy and sell is key,” he said.

Hapondo also noted that despite the decline in prices, the appetite for real estate “shows little signs of slowing down”.

The number of transactions in the first four months of the year reached 1,181, surpassing the Ministry of Justice’s record of 1,104 deals a year earlier, the platform reported.