Residential Real Estate Leases - Qatar

In Qatar, the revenue of the Residential Real Estate Leases market market is forecasted to reach US$5.05bn by the year 2024.
Apartment Leases hold the largest share in this market segment, with a projected market volume of US$3.66bn in 2024.
Looking ahead, the revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.06%, leading to a market volume of US$6.78bn by 2029.
The residential real estate lease market in Qatar has experienced a significant decline due to the economic impact of the COVID-19 pandemic.

Definition:

The residential real estate leases market refers to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums. The lease outlines the terms of the rental agreement, including the duration of the lease, the amount of rent to be paid, and the responsibilities of both the landlord and the tenant. The lease may also include provisions for security deposits, maintenance and repair obligations, and renewal options.

Structure:

The residential real estate leases market comprises the lease of houses and apartments.

Additional information:

The residential real estate leases market includes the following KPIs: the revenue generated by real estate leases, the number of real estate leases, the average revenue per real estate lease, the share of dwelling type of tenants, and the average room per tenant. The dwelling type shares comprise the shares of the renter population that lives in houses and apartments.

Residential house and apartment leases

Real estate transactions
Commercial real estate
Accommodation services, such as Airbnb

The Residential Real Estate Leases market in Qatar is experiencing significant growth and development.

Customer preferences: Customers in Qatar are increasingly opting for residential real estate leases due to the flexibility and convenience they offer. Leasing allows individuals and families to live in desirable locations without the long-term commitment of purchasing a property. Additionally, leasing provides the option to upgrade or downgrade to a different property based on changing needs and preferences. This flexibility is particularly appealing to expatriates and young professionals who may have uncertain future plans.

Trends in the market: One of the key trends in the residential real estate leases market in Qatar is the increasing demand for high-end and luxury properties. Qatar has a growing population of high-net-worth individuals who are willing to pay a premium for luxurious and spacious accommodations. As a result, developers are focusing on constructing upscale residential properties that cater to this demand. These properties often come with additional amenities such as swimming pools, gyms, and 24-hour security, further enhancing their appeal. Another trend in the market is the rise of serviced apartments. Serviced apartments offer a combination of the comforts of home and the convenience of hotel services. They are particularly popular among business travelers and expatriates who require temporary accommodation for a few months or years. The availability of serviced apartments in Qatar has increased in recent years, with many international hotel chains and local developers entering the market to meet the growing demand.

Local special circumstances: Qatar's rapidly growing population, driven by economic development and an influx of expatriates, is a key factor contributing to the development of the residential real estate leases market. The government's focus on diversifying the economy and attracting foreign investments has resulted in a significant increase in job opportunities, particularly in sectors such as finance, technology, and healthcare. This has led to an increased demand for residential properties, both for lease and purchase.

Underlying macroeconomic factors: Qatar's strong economy and stable political environment have played a crucial role in the development of the residential real estate leases market. The country's high GDP per capita and low unemployment rate have created a favorable environment for property investment. Additionally, Qatar's hosting of major international events, such as the FIFA World Cup 2022, has attracted significant foreign investments and boosted the demand for residential properties. In conclusion, the Residential Real Estate Leases market in Qatar is experiencing growth and development due to customer preferences for flexibility, the trend of high-end and luxury properties, the rise of serviced apartments, the country's growing population, and the underlying macroeconomic factors of a strong economy and stable political environment.

Data coverage:

Figures are based on total and average revenue of residential apartment leases.

Modeling approach:

Market size is determined by a bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Residential Real Estate Leases - Qatar

Volume

Analyst Opinion

Revenue

Affordability

Real Estate Type

Living Space

Methodology

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