RIDUANUR QURESHI ASSOCIATE FINANCIAL ANALYST
REPORT FROM THE PEARL GATES The Pearl Qatar Secondary Market Q3, 2021 Qatar’s economy is recovering from the pandemic, Qatar’s real estate market has seen significant growth in Q3 2021. With more opportunities in the market and an increase in the influx of white-collar professionals, there may be a favorable uptake in demand for residential property in the short to medium term. Furthermore, rental prices in The Pearl and Lusail have increased significantly, attracting investors to the secondary market. According to the Qatar Central Bank's pricing index, the Qatar real estate price index achieved its highest position in Q3 since January 2020. In the third quarter of 2021, the average listing and sale price for apartments were quite similar to the second quarter. Despite this, the asking and selling prices for studio and three-bedroom apartments increased by 2% and 3%, as supplies decreased compared to the previous quarter. However, as more supply entered the market, the selling price for a two-bedroom apartment fell by 4%. Studio apartments had the highest asking and selling prices per square meter at 17,656 QAR and 16,774 QAR, respectively, while other apartments have an average price of 13,300 QAR. Additionally, the discount rate on the asking price remains the same as it was in Q2. On the third quarter, around 152 apartments were listed in the secondary market, a 7% rise over the second quarter. Total supply for one and two bedroom apartments climbed by 29% and 16%, while supply for studio and three bedroom apartments declined by 20% and 15%. Similar to the first and second quarters, there are more two-bedroom apartments for sale, 42 % of total inventory. Furthermore, one bedroom apartments have witnessed the most expansion in market supply, they represent 30% of total inventory, while three bedrooms and studio apartments account for 15% and 13% of the market supply.
THE PEARL GATES