Will real estate and rent prices drop after the World Cup?.. Experts answer
January 25, 2023, 12:10 a.m
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Doha – Al Sharq website
Experts and officials of real estate companies saw that the actual period for evaluating the real estate market situation in terms of the direction of prices or rents after the end of the 2022 World Cup will be in the last quarter of the current year 2023, considering that the current period is a period of “correction of papers” and not for evaluation, stressing at the same time that Supply and demand is the master of the situation and he is the one who rules the market and no one else.
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In response to a question, where will real estate prices go after the end of the Qatar World Cup 2022? Abdul Rahman Al-Najjar, CEO of Kate Real Estate Company, expected during an interview with the “Nabd Al-Eqtisad” program on Qatar TV this evening, Tuesday, that there will be a “shake in prices” during the coming months, and that everyone will tend to “fill” housing or vacant apartments, adding: This It is normal today.. We said that small investors will be affected in the beginning, but the market is promising, and there is demand…. Supply and demand is the master of the situation and it is the one that rules the market.. and no one can rule the market.
He said, “Today there are new legislations that will be issued, laws, and tools that were previously frozen and will be implemented in the coming months. This is a natural form today. When such a quantity is put on the market, it takes time to absorb it. Today there are people who decided, when their contracts expire, to move from one place to another, “improving the situation.” “.. Today, someone who lives in places with different classes… Why doesn’t he improve his situation and move to another place that has more advantages…
And he considered that today the competition will be in services, in the location, the nearest transportation, the existing services, and these things will have more competition than the price, continuing: Today the costs are high, everyone during the World Cup period suffered from costs .. It is impossible today for a real estate investor who has debts from the bank and operating costs He rents his real estate at a loss.. I do not think today that we need to drop real estate prices or rents to the point where we lose or expose others to loss.. It is a cycle.. Today if I lose as a real estate agent, there are banks behind me, there are services, employees, it is a circular movement, so If anyone loses in this episode, everyone will lose.
For his part, Manea Ibrahim Al-Manea, Chairman of the Board of Directors of Century 21 Real Estate Company, said: We lack information about the rate of supply and demand for residential units, considering that this problem is faced by banks in financing and investors also face in development, adding: information is only about the available or the built or upcoming size, As for an offer or as a vacancy, there is no real and clear information, and this is a big problem facing the real estate market and all parties, whether as investors or financing banks.
Mohammed Abdul Karim Al-Emadi, CEO of Al-Emadi Projects, predicted during a video conference that the actual situation of the market, which should be after the World Cup, will be in the last quarter of this year.
And he believed that due to the large number of projects during a period of 10 years of work, it is not possible to evaluate the market situation after the World Cup during the first 3 or 4 months, considering that the actual evaluation of the market takes place during the months 10, 11 and 12, i.e. in the last quarter of 2023, because the current period is The period of correcting the papers is not a period of evaluation, and that the results will not be the end of the World Cup or two or three months after it. I expect that in the last quarter of this year we will see the actual situation of the market that it will be in after the World Cup.
