Qatar - Review 2023-2024 Outlook

The Qatar real estate market experienced a period of adjustment throughout 2023, setting the stage for a projected gradual correction in the sales market as the country transitions past the World Cup boost. This comprehensive review and outlook provides a valuation-anchored analysis of the residential, commercial, and hospitality sectors entering 2024.

• For 2024, the ValuStrat Price Index (VPI) for the residential sector is expected to experience annual depreciation, reflecting a gradual correction in the sales market.
• Approximately 21 new residential projects are expected to be added in 2024, with a high concentration of apartments located in Fox Hills, Lusail, and La Plage South, Doha.
• The commercial office pipeline for 2024 is projected to reach 350,000 sq m GLA, potentially pushing oversupply beyond 2 million sq m GLA and maintaining downward pressure on sector performance.
• The hospitality sector anticipates robust expansion, with over 2,225 keys slated for addition in 2024, alongside major tourism drivers such as the International Horticulture Expo.
• Macroeconomic forecasts from the IMF indicate Qatar's real GDP growth will adjust to 2.2% in 2024, with inflation projected to reach 2.3%.

Institutional investors and developers requiring a valuation-anchored baseline and forward-looking projection to navigate the anticipated residential market correction and strategise asset allocation.

Lenders and risk management teams seeking independent, evidence-based metrics on the projected office oversupply to accurately underwrite commercial real estate exposure.

Hospitality operators and tourism stakeholders monitoring the influx of new hotel keys and international events to optimise pricing and operational strategies.

Multinational corporations and corporate occupiers evaluating the anticipated commercial oversupply to formulate strategic, cost-effective leasing decisions.

High-net-worth individuals (HNWIs) and active market participants aiming to benchmark capital values and track the trajectory of prime residential assets in emerging areas like Lusail.

This comprehensive review equips decision-makers with the empirical clarity required to navigate Qatar's transitioning property landscape into 2024.

• Benchmark individual residential and commercial assets against authoritative, countrywide capital value trajectories and projected 2024 adjustments.
• Understand the structural drivers behind the forecasted residential depreciation and the continued expansion of the hospitality and retail sectors.
• Support complex pricing, acquisition, commercial leasing, and lending decisions backed by an independent, evidence-led valuation framework.
• Evaluate macroeconomic indicators, including IMF GDP forecasts and the 2024 national budget assumptions, to anticipate long-term market impacts.