Rents for compound villas and two-bedroom apartments in Qatar fell in the first quarter of this year, according to a new real estate report.
This was driven primarily by a slowdown in the country’s population growth and white-collar layoffs, DTZ said in its Property Times communiqué for Q1 2017.
Companies have also been looking to cut costs by providing staff with housing allowances rather instead of accommodation, it added.
Finally, new residential developments in central Doha districts including Al Sadd, Bin Mahmoud, Al Mirqab and Umm Ghuwailina have also increased supply in the market, particularly for two-bedroom apartments, the report said.
Average monthly rents for a three-bedroom apartment in the business district of Dafna/West Bay earlier this year were around QR15,000 for a three-bed apartment. Two-bedrooms went for QR12,000 and one-bedroom apartments cost about QR10,000 a month.
This is around QR1,000 a month cheaper than rates charged during the third quarter of last year.