Skip to content Skip to Search
Skip navigation

Qatar residential rents surge on higher World Cup demand

Creative Commons
The surge in rent is based on a short-term World Cup-related spike in demand from fans and companies seeking staff accommodation

Residential rents in Qatar accelerated in April and May 2022 as landlords took advantage of a spike in demand ahead of the FIFA World Cup, Cushman and Wakefield said in its Q2 property market report.

Apartment rents increased on average 30 percent year-on-year in June 2022.

“The surge in rent is based on a short-term World Cup-related spike in demand, with rents expected to fall again in 2023 as demand subsides and available properties return to the market,” the report said.

This has led to an increasing trend in landlords insisting on two-year leases for apartments over recent months, it added.

Prime districts are witnessing the highest increases, with two-bedroom, semi-furnished apartments in Porto Arabia now leasing for QAR 13,000-15,000 ($3,571 – $4120) from QAR 10,000-12,000 in 2021.

There is also an increasing trend in tenants not having their leases renewed on request, as some landlords look to vacate their properties and capitalise on inflated World Cup rents.

However, the number of residential sales transactions fell by 19 percent over the first five months of 2020 compared to the corresponding period last year, the report said, citing statistics released by the Planning and Statistics Authority showed.

Latest articles

Sabic said better conditions in its agriculture and automotive businesses are supporting its margins

Sabic reports loss of $747m as product prices tumble

Petrochemicals major Saudi Basic Industries Corporation (Sabic) reported a net loss of SAR2.8 billion ($747 million) in 2023, as average product sales fell by a fifth. The losses were also driven by the discontinuation of operations at Hadeed, its steel manufacturing subsidiary, which resulted in a loss of around SAR4 billion. In September 2023, Sabic […]

Masdar starts work on two UK battery storage projects

Masdar Arlington Energy, a subsidiary of UAE’s Masdar, has started construction on two battery energy storage system (BESS) projects in the UK. The Royle Barn Road plant in Rochdale and Welkin Road plant in Stockport will have a combined capacity of 55 MW and provide enough energy to power 25,700 homes.  Masdar acquired UK-based Arlington Energy in […]

Parkin controls more than 90 percent of Dubai's paid parking provision

Dubai parking operator IPO will fund EV expansion plans

Parkin, the Dubai government’s parking management company, plans to channel proceeds from its initial public offering into technological upgrades, including expansion of its electric vehicle services.  The company will release nearly 25 percent of its shares on the Dubai Financial Market next month.  The offering begins on March 5, with a price range to be […]

Dubai Financial Market, where trading in Drake & Scull shares was suspended in November 2018

Drake & Scull to issue sukuk for return to Dubai market

The directors of Drake & Scull International are looking to recapitalise the troubled construction giant via a sukuk, with a view to resuming trading on the Dubai Financial Market. A general assembly meeting will be held “as soon as possible” to increase the company’s share capital, which will be done through a mandatory convertible sukuk, […]