Qatar, one of the wealthiest nations and the world’s top exporters of liquefied natural gas, provides locals and foreigners with an excellent environment for real estate investments.
Thousands of people relocate to Qatar annually, initially attracted by the country’s excellent economic prospects and staying for a high standard of living. Real estate investments have a high potential for profitability due to the ongoing influx of people who need to find homes.
Furthermore, as part of its long-term strategy to diversify the economy, Qatar has been increasing efforts to grow its tourism sector. The nation has launched several initiatives to strengthen its reputation as a prestigious international destination, the FIFA World Cup in 2022 being just one of them. There is consequently anticipated growth in demand for secondary residences, as well as for rental and commercial properties.
Who Can Own Property in Qatar?
The following individuals and entities are permitted to purchase and possess real estate in Qatar:
- Qatari nationals.
- GCC (Gulf Cooperation Council) nationals.
- Foreigners (Non-Qataris and non-GCC citizens).
Freehold and leasehold properties are the two types of real estate that non-GCC foreign individuals and companies may own.
Freehold properties cover both the structure and the surrounding property. They can be bought and owned by non-Qataris, but only in specific regions of the nation.
Foreigners are also permitted to sign leasehold agreements, which grant lessees the right to use a building for 99 years. Leasehold contracts are only allowed in specific locations, just like freehold properties, but leasehold properties can be used for residential and commercial purposes. A leasehold property’s building or structure may be owned by foreigners but not the land on which it is situated.
Foreigners may be granted residency status in Qatar if they own a freehold property, which may extend to their family members so long as the foreigner owns the property. Foreigners must possess a valid Qatar visa before signing a leasehold agreement.
Regulations On Real Estate Ownership by Foreign Nationals
In 2018, Qatar passed a law allowing more foreign ownership in the country’s real estate market, which had been severely impacted in recent years by an oversupply brought on by a rush of building ahead of the country’s hosting of the 2022 World Cup.
Qatar has opened up more areas of the country to foreign companies and individuals owning real estate to advance in the real estate market, hasten economic growth, and stimulate the real estate industry.
Property Ownership for Foreigners
Non-Qataris or foreigners can own property in the following areas:
- Al Dafna (administrative area).
- Al Khor Resort.
- Al Qassar (administrative area).
- Al Wasil.
- Jabal Thaileb (investment area).
- Onaiza (administrative area).
- Qatifiya West Bay.
- Rawadat Al-Jahaniyah (investment area).
- The Pearl.
Property Lease for Foreigners
Foreigners may lease real estate in the following areas:
- Al-Ghanim Al-Ateeq.
- Al-Mirqab Al Jadeed.
- Al-Riffa and Al-Hitmi Al-Ateeq.
- Doha Jadeeda.
- Doha International Airport area.
- Fareej Abdul Aziz.
- Fareej Al Nasr.
- Fareej Bin Dirham.
- Fereej Bin Mahmoud 22.
- Fereej Bin Mahmoud 23.
- Rawdat Al Khail.
- Umm Ghuwailina.
With a few exceptions, buyers of properties costing 3.65 million riyals (roughly $1 million) or more are qualified for permanent residency with access to healthcare, education, and other benefits.
Individuals and their families can obtain residency permits renewed without an employer’s sponsorship if they purchase homes worth at least 730,000 riyals.