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Qatar saw 59.1% rise in real estate deals in 2012
- Qatar: Thursday, January 03 - 2013 at 06:54
According to real estate registration data provided by Qatar's justice ministry, the total value of real estate deals in 2012 jumped 59.1% to QR42bn ($11.5bn), compared with the previous year, the Peninsula has reported. Analysts expect the real estate sector to grow more aggressively in 2013, with a likely influx of an additional over 600,000 foreign workers to engage in the booming building activity in the country. "Land prices already have increased by 50% in 2012, and with a slew of development projects lined up for launch this year, more and more foreign companies are likely to enter the Qatari market," one analyst was quoted as saying. Currently, housing supplies exceed demand, but the situation might reverse by the year-end, said the analyst.
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