Knight Frank – Qatar Real Estate Market, Aut 2023

In the Autumn of 2023, Knight Frank conducted a study on the real estate market in Qatar. It was found that the average prices for villas have decreased by 2.5% over the past year, reaching QAR 7,100 per square meter in Q3 2023. The neighborhood of West Bay Lagoon had the highest sales price at QAR 8,471 per square meter, while Al Kharaitiyat had the lowest sale price at QAR 5,773 per square meter. It was observed that neighborhoods with modern infrastructure and close proximity to essential facilities such as schools, hospitals, and shopping centers tend to have higher sales prices due to the availability of more services and amenities. As for apartments, the average transacted price experienced a 3% decline in the last year, settling at QAR 13,780 per square meter. Among all major districts in Qatar, Fox Hills had the lowest sales price for apartments at QAR 10,700 per square meter, while The Waterfront commanded the highest price at QAR 17,220 per square meter. In addition to the decline in sales prices, rental rates for both villas and apartments have also decreased over the past year. Lease rates have declined across almost all districts, with West Bay and The Waterfront having the highest quarterly depreciation at 24% and 20%, respectively, for average quoted rents for apartments.