RIDUANUR QURESHI ASSOCIATE FINANCIAL ANALYST
REPORT FROM THE PEARL GATES Qatar Real Estate, Off-Plan Market Q2, 2022 In the first quarter of 2022, there are around 1000 properties available in different projects in free-hold and lease-hold areas in Qatar. Developers like Al Asmakh, Arian Real-estate, and United development company launched projects that is ideal for both investor and end-user. Among the freehold areas, Lusail and The Pearl Qatar are supplying the majority of inventory in the Qatar real estate market including ready and off-plan apartments, villas, office space and shops. Foreign investors are eligible to invest in both ready property and off-the-plan constructions in Qatar. Other than in free hold areas, investors are also allowed to invest in lease hold areas in Qatar. In lease hold areas investors can own property up to 99 years and also are eligible for resident permit in Qatar. Projects like Bin Al Sheikh Tower launched in a lease hold area, consists of apartments, penthouses and retail shops with a flexible payment plan. In free hold areas several projects are available for investors such as Milos developing by Arian real-estate in Al Quteyfya area, Lusail Water Front Seaview project by Damac property, A14 by Al Asmakh real estate in Lusail. Most of the under construction projects have flexible payment plans up 7 years for apartments and starting down payment from 5% of the property. The majority of this project includes a payment plan, a furnished apartment, and facilities such as a swimming pool and a gym. The entire Off-plan property stock comprises 47% one-bedroom apartments, 34 % two-bedroom apartments, 7 % office space, 5 % Studio and three bedroom apartments, and 2% Townhouses. Apartment prices in a low rise building in Lusail starts from 950,000 QAR and apartment prices in high rise buildings start form 1.5 million QAR. In low rise projects, average price of studio apartments is around 1.077 Million, one bedroom 1.16 million, two and three bedrooms price are 1.7 Million and 2.3 million Qar. On the other hand apartment price in high projecst, average price for one bedroom project 1.75 million, two and three bedrooms apartment price are 2.57 million and 4.2 Million QAR. THE PEARL GATES
Qatar Real Estate, Off-Plan Market Q2, 2022
Avg Size (Sqm)
Avg Price
Median Price
Avg per Sqm
Avg per Sqm 2021
YOY
Studio
80
1,077,299
1,095,000
13,466
12,250.00
10%
Low Rise 1 Bedroom
89
1,163,517
1,148,909
13,040
13,156.00
-1%
Premium 1 Bedrooms
118
1,756,711
1,756,711
14,839
15,324.00
-3%
Low Rise 2 Bedrooms
133
1,737,856
1,669,876
13,098
13,166.00
-1%
Premium 2 Bedrooms
175
2,576,011
2,576,011
14,730
15,620.00
-6%
Low Rise 3 Bedrooms
187
2,303,147
2,303,147
12,340
14,859.00
-17%
Premium 3 Bedrooms
298
4,265,697
4,265,697
14,294
15,580.00
-8%
Office Space
119
1,565,296
1,565,296
13,154
13,459.00
-2%
Townhouse
300
2,975,000
2,975,000
9,917
10,872.00
-9%
Premium Townhouse
277
6,900,000
6,900,000
24,910
THE PEARL GATES
Qatar Real Estate, Off-Plan Market Q2, 2022
Studio (Off-plan Project)
Studio
Avg Price
Median Price
Avg Size
Avg Per Sqm
Avg Per Sqm 2021
YoY
1,077,299
1,095,000
80
13,466
12,250
10%
In the first Quarter of 2022, around 35 studio apartment available for sale in Lusail. Average price and median price for studio apartment around 1.077 million and 1.095 million QAR. Average price per Sqm increase by 10% compare to 2021, Average size remain similar to 80 Sqm.
One Bedroom (Off-plan Project)
Avg Price
Median Price
Avg Size
Avg Per Sqm
Avg Per Sqm 2021
YoY
Low Rise
1,163,517
1,148,909
89
13,040
13,156
-1%
Average Price Premium Location
1,756,711
1,756,711
15,324
-3%
1,184,006 QAR
118
14,839
Average price for one bedroom apartment in low rise building remain similar to 2021. Most of low rise project are constructing in lusail Yasmeen City and Fox Hills area. Average and median price of studio apartment is around 1.163 Million QAR and 1.148Million QAR. Average size for studio around 89 Sqm and price per Sqm 13,156 QAR. Average and median price for premium and high rise one bedroom apartment around 1.756 million QAR, 5% higher than one bedroom available in 2021. Although average size one the new one bedroom available is 7% larger, average price per Sqm is around 14,839 QAR.
Studio (Off-plan Project)
2,000,000
One Bedroom (Off-plan Project)
120
1,600,000
2,000,000
Low Rise
Premium Location 120
1,600,000 80
1,200,000
800,000
40
400,000
80
1,200,000
800,00
40
400,000 0
0 Average Price
0
0
Average Size
Average Price
THE PEARL GATES
Average Size
Qatar Real Estate, Off-Plan Market Q2, 2022
Low Rise Average Price Premium Location
Two Bedroom (Off-plan Project)
Avg Price
Median Price
Avg Size
Avg Per Sqm
Avg Per Sqm 2021
YoY
1,737,856
1,669,876
133
13,098
13,166
-1%
15,620
-6%
2,576,011
2,576,011
1,184,006 QAR
175
14,730
Two bedrooms price remain similar in low rise project in lusail, average and median price is around 1.74 million and 1.67 Million QAR. Average size of two bedroom under construction apartment 133 Sqm and average price per Sqm is around 13,098 QAR. Average price for two bedroom apartment in premium location is 4% higher than 2021. Average and medium price for two bedroom apartment around 2.57Million QAR. On the other side, size of new apartment in premium location is larger by 10%, and average price per Sqm is 6% lower than last year.
Low Rise Average Price Premium Location
Three Bedroom (Off-plan Project)
Avg Price
Median Price
Avg Size
Avg Per Sqm
Avg Per Sqm 2021
2,303,147
2,303,147
187
12,340
14,859
-17%
15,580
-8%
4,265,697
4,265,697
1,184,006 QAR
298
14,294
YoY
In Pearl and lusail around 35 three bedrooms apartment available in the 1st quarter of 2022. Average price per Sqm of three bedrooms apartment in premium project is decreased by 8% and average price per Sqm in Low rise17% lower than last year in similar time. Average and medium price for three bedrooms apartment is around 2.3 million QAR in low rise project. Average size is around 187 Sqm and price per Sqm is 12,340 QAR. On the other hand, price for three bedroom apartment in premium location is 15% higher than 2021. Average and median price for three bedroom apartment around 4,2 million QAR. Average size of around 298 Sqm, 30% larger than apartment size in 2021.
Two Bedroom (Off-plan Project) 3,000,000
Low Rise
Three Bedroom (Off-plan Project) Low Rise
Premium Location 300
Premium Location
5,000,000
300
4,000,000
2,400,000 200
1,800,000
1,200,000
100
200
3,000,000
2,000,000
100
1,000,000
600,000 0
0 Average Price
0
0 Average Price
Average Size
THE PEARL GATES
Average Size
Qatar Real Estate, Off-Plan Market Q2, 2022
Townhouse (Off-plan Project)
Avg Price
Median Price
Avg Size
2,975,000
2,975,000
300
6,900,000
6,900,000
Townhouse Average Price Premium Townhouse
Avg Per Sqm
Avg Per Sqm YoY 2021
9,917
10,872
-9%
1,184,006 QAR
277
24,910
In the 1st Quarter 2022, townhouse available in lusail is comparatively smaller size than last year. Average size of the townhouse is 300 Sqm compare to 445 Sqm townhouse size in 2021. Average and median price of the townhouse around 2.97 million Qar and average price per Sqm is 9,917 QAR. Townhouse price in premium project is comparatively higher than townhouse in lusail. Average price of townhouse in Premium location is around 6.9 million QAR and average size and price per Sqm around 277 Sqn and 24,910 QAR
Small Office Space
Office Space (Off-plan Project)
Avg Price
Median Price
Avg Size
Avg Per Sqm 2021
1,183,837
1,138,226
90
13,154
Average Price Medium Office Space
1,709,987
1,749,614
130
13,154
Large Office Space
2,301,906
2,280,000
175
13,154
1,184,006 QAR
Price for under construction office space remain similar to last year. Average price for smaller office space is 1.138 million QAR, size 90 Sqm and price per Sqm is around 12,647 QAR. . The typical size of office space is 90 square meters to 130 square meters, with an average price range of 1.14 million to 2.3 million QAR. The PPSM pricing for office space is approximately 13,154 QAR.
Townhouse (Off-plan Project) Townhouse
Office Space (Off-plan Project)
Premium Townhouse
10,000,000
300
2,500,000
Small Office Space
Medium Office Space
Large Office Space
300
2,000,000
8,000,000 200
6,000,000
4,000,000
100
200
1,500,000
1.000,000
100
500,000
2,000,000 0
0 Average Price
0
0 Average Price
Average Size
THE PEARL GATES
Average Size
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