QATAR

Property prices in Qatar continue to rise rapidly. The nationwide real estate price index soared by 23.2% during the year to Q2 2015, according to the Qatar Central Bank (QCB). During the latest quarter real estate prices rose by 4.7% (Q2 2015), supported by rapid economic and population growth, and a construction boom in preparation for the 2022 FIFA World Cup. The value of real estate transactions rose by 18% y-o-y to QAR36 billion (US$9.8 billion) in the first half of 2015, and has almost tripled over the last five years. At the Porto-Arabia Pearl, the first phase of The Pearl-Qatar, which has a total of 31 towers: In the primary market, the average apartment sales price rose by 7% to QAR17,000 (US$4,669) per sq. m. in Q3 2015 from the same period two years ago, according to real estate firm DTZ Qatar . In the secondary market, apartments were sold for up to QAR15,000 (US$4,120) in Q3 2015, up by about 15% from two years ago.