How to Buy Land in Qatar and What are the Benefits
Commercial Land in Qatar Vs. Residential Land in Qatar If you are considering the idea of buying land in Qatar, you are on the right path. There are numerous benefits when buying land.
The right piece of land is almost certain to gain value. There is also the potential for the property to appreciate in value, making it a profitable investment. Let’s take a look at some of the top reasons to invest in land and explore a few key considerations.
When you buy any type of land, commercial land for sale, or residential land for sale, you can do what you want with it up to a certain extent. There are zoning rules and building codes that must be met. But of-course there are still plenty of ways to be creative with it. A piece of land gives you the opportunity to create something that is your own. You can build commercial or residential property with multiple buildings, suites, parking lots, warehouses, etc.
You can even decide to invest in land opportunities and gain profits.
If you can find a unoccupied piece of land, it will be of course way cheaper than an improved lot. If you look hard enough, you will be able to find land with a low entry prices.The Potential for Appreciation Buying land has always been an excellent way to make money. People will always need a place to live and work. There is always a solid chance for you that your property investment will increase in value over time and years. Hypothetical investors are typically interested in vacant lands in proper locations; such as lands for sale in Lusail City Qatar, Land in West Bay Lagoon, Land in The Pearl Qatar, and other common areas in Doha-Qatar. If you pick the right property it’s possible to achieve high return on investment when shopping for new commercial or residential real estate or any type of property.
Once you buy a land and don’t plan to build any property, you will cause a damage for yourself and have to pay 30% to 50% more in cash. It’s hard to find lenders, even if you find one, pay cash.
Pros & Cons of Buying a Land in Qatar
Pros of Buying Land:
1. There is less investment cost: if you are struggling to buy a property in Qatar, especially in high-end areas such as Lusail City, The Pearl-Qatar and West Bay Lagoon, keep in mind that there are many other available lands around Doha city. Investing in a plot gives you an easy entry to Qatar market. Typically vacant lands are more affordable than established areas since the cost of construction is not involved.
2. Multiple use: One of the biggest benefits of buying land in Qatar is that you can customize it in any use for future. You can use it for Hotel apartments in Qatar, construction of a villa house in Qatar, a residential compound in Qatar, or anything else based your license permit.
Or else you can decide to enter a joint venture agreement with other real estate developers; and in this way you can benefit from the partner’s share of profit.
3. Less maintenance: Cost of maintaining an area or plot in Qatar is obviously less than constructed properties in Qatar. Apart from cutting the area, or fencing and hiring a guard for surveillance, lands do not involve additional maintenance or service.
Cons of Buying Land
1. Solid asset: Once you buy a land property, reselling the plot might sound difficult. As your land value is appreciated at faster and higher rate, finding a buyer who’s willing to pay could be a challenge.
2. Problem with the availability of finance: If you are financially stable then there is no doubt in investing or buying commercial land and property for sale, or residential property for sale. However if finance is a concern to you, keep in mind that borrowing a loan for building a house or any property could cause problems later on. Financial institutions in Qatar of course may help, but again for land usually it’s not very possible. Banks typically reject to lend loans for land purposes.
Difference Between Buying and Renting a House
Owning and renting a property each have their own advantages; however, what’s best for you and your family depends on your financial and social circumstances.
To buy house in Qatar, and lease to own a home in Qatar, or anywhere else is a serious financial commitment; whether it’s to buy studio apartments, buy villa houses, buy a Townhouse, and etc. which requires anybody to plan ahead and reflect on their life. Before you decide whether to buy or rent a property, you should know your budget and ask yourself if you are financially capable enough to afford buying or renting? You should always make sure you have enough money to save for retirement or your family. Now let’s go through some advantages and disadvantages of both buying or renting a property in Doha, Qatar. Which may be applied in anywhere else in the world.
1. Cost wise, if you are looking for rental property, many landlords for short term rentals in Doha ask for the first and last month’s rental fee along with the security deposit. On the other hand, in order to buy a property, most mortgages require a down-payment and you may also need to pay closing costs.
2. Maintenance wise, renting a home, you are usually not able to renovate or personalize your living space/property. However a good advantage is that your landlord would take care of it and is responsible for repairs. Which on the other hand, the advantage of lease to own a home is that you can customize and renovate your own property in any way you want. The only different is that any repairs or maintenance occurs in the house, you are the one responsible about it and you need to take care of it. 3. Value wise, rental fees may increase in future, or buying homes’ values may arise and fall. if you are planning to buy land in Qatar, or looking for a land for rent in Qatar, values of the lands are never stable and they may rise or fall down over time.
4. Location wise, when you rent a home, relocating is easier. Because you may end up changing your job, or moving out from the country; therefore you have less responsibility to leave a rental home. Basically when buying a home, it means buying a single family house or apartment. In my personal opinion, from both perspectives (house or apartment), renting always puts me in a better position than buying.
A lot of buyers in Qatar, once they are married, they decide to go for single family homes to own; which is not the best investment. The saving on a down-payment for a home, it’s more reasonable to put and save money in a bank account or any other type of investment with no or less risk. If you have saved a lot of money, by renting a home you can easily minimize unpredictable costs. You can invest your money to grow your wealth. As mentioned earlier, maintenance wise it is very beneficial to consider to rent than to buy. When you decide to lease to own apartment for example, once you own your own home, a washing machine will cost you and you are the one responsible for replacing it. Which this applies for every other home appliance and items. You are in charge of maintaining, repairing, renovating, and upgrading it.
Of course there is negotiation and arguments about rental homes as well. Some people could argue that rents may vary from one year to another; However it should be taken into consideration that mortgages can too!
To dig deeper into this discussion, when you buy property in Qatar, home costs and expenses are actually challenging to save and invest.
Another point to argue is that when you look for a 2 bedroom apartment for rent for instance, the current rent is a set expense for you lease. Whereas your current costs for owning a 2 bed apartment is always an unpredictable swipe every month.
All the mentioned variable home costs make it very challenging for you to save and invest! If something happens for e.g. there is no way you can call your landlord! You need to be in charge of the money you may have planned to invest and spend it for your house.
If you are a small family and want to buy a house in Doha, a house may limit your freedom and flexibility. A house has always been a big responsibility for everyone to take care of it. Maintaining its value is another subject to worry about. Whilst renting will leave you with more power to choose how you want to spend, and you will rent the space that you actually need. Focusing more on both financial and lifestyle reasons in this Arab country, many locals in Qatar tend to own huge villa houses or standalone villas. It’s rare to find locals living in apartments. Furthermore, buying property in Qatar for foreigners have recently become a very attractive point for whoever comes to visit Doha, or whomever is planning to invest. Due to the fact that it is now allowed for everyone to pursue a Qatari permanent residency in return when buying properties in West Bay, The Pearl, and Lusail. However, if this is the only reason why people are looking forward to own properties in Doha, do you think it’s very necessary to invest on an apartment or house just for a residency permit? Why don’t you just look for convenient and brand-new properties for rent in Lusail?
To conclude, in my opinion, renting allows you more freedom and flexibility in your home. The problem with homeownership is that you spend on extra expenses along with having unpredictable expenses; but with renting a property, you always have expected and predictable expenses every year which helps you to plan easier. And there is always less attachment to the physical space of the house.
Whether top buy or to rent, you always need to invest in both scenarios!
Advantages of Renting an Apartment than a House
Why apartments for rent are more convenient and beneficial than houses for rent in Doha? We should take into consideration that when it comes to buying or renting a property, there’s always a negotiation on what makes the most beneficial and financial sense.
First common sense that comes to mind is why should you pay a monthly rent apartment or house to a landlord instead of choosing accommodation for lease to own? Deciding whether renting is the better option compared to buying is not the only thing that you should consider. It’s important to figure out what is best for you, your family, and your loved ones! Because you are getting something in return.
Yes, buying an apartment or a house may be a great investment, however paying rent isn’t also a waste of money. In fact, there are many financial reasons behind why renting is more convincing.
Choosing between renting a house or renting an apartment is not an easy decision; but it’s not a hard one either. In order to make the selection easy, you need to assure if you are in a good social, professional, AND financial position to buy a house or apartment. If you can’t make sure of your position, then it’s definitely not the right time for you to buy! Obviously renting an apartment in Doha is more convenient and cheaper than a house. Wanna know why? Let’s break down this renting Apartment vs. House decision and its factors.
1) Space – in many scenarios, renting a house means larger living space than an apartment; more living area, more bedrooms, more bathrooms, larger parking spaces, more privacy, and basically greater square footage than in an apartment. Let’s say depending on how many people you move in with, family, roommates, friends, definitely a house can afford this greater and larger living space. However, if you are living alone, or with one person or two people, the amount of rent is not worth it.
2) Expenses – in many cases in Qatar, utility and service charges are separated from the rental bill. Thus, certainly utility expenses for apartments for rent will be lower than in a home rental. Let’s break down this factor further in order to gain better understanding of how is the cost of living in Qatar: The cost of living in Doha Qatar, mainly is about the lifestyle and where you come from. The living of an expat can vary from a foreigner or a local. Once anyone comes to Doha, people tend to say that Qatar is not an expensive place to live, and citizens can get free electricity and water. Which is truly is not accurate. Utility charges apply along with the rental bill in many cases. Only in some rare scenarios the rental bills include electricity and water. Most of the times, cheap apartments for lease or any cheap accommodation in Qatar depends on current housing market, the location of stay and where you’re looking to move. Places that are located at the heart of Doha, close to city’s landscape are considered to be the most luxury, most expensive living, and popular neighborhoods for residential apartments.
3) Amenities – Apartments and houses are distinctly diverse and each serve different living lifestyle. When it comes to amenities, this factor can play with your mind and make the decision harder for you to whether to look for apartments for rent or houses for rent. If you have a pet, large family, live with kids or friends, it is more likely to choose a house in order to have larger yard, parking lots, and in some cases small garden or barbeque area. Now let’s go through some types of houses and apartments for rent in Qatar in order to understand the Qatar house prices. It will also help to decide which type of accommodation is more suitable for you depending on your position and living expenses.
1. Private villas: Many of the private villas for rent in Doha come with large parking spaces or private pools. Villas with pools are usually considered to be the most luxury villas in Qatar and the most expensive ones are located in West Bay Lagoon villas, and The Pearl Qatar standalone villas. Cheap villas for rent can be found in all areas; but again, depending on the place the prices vary.
2. Townhouses: townhouses for rent are only very common in Qatar’s iconic island, The Pearl. You can experience a very unique, different, and luxurious lifestyle as well as diverse leisure and entertainment facilities, along with marina and beautiful beaches, restaurants, and retail services. However as mentioned earlier, Pearl offers the most expensive properties ranging from penthouses, apartments, villas, and townhouses. From that we conclude only if you are financially stable, you may experience the most luxurious life in Doha, Qatar.
3. Compound villas: Villa Compounds in Qatar are nowadays the most usual type of houses for rent; but yet tend to be more expensive comparing to apartments. For the fact that most of the compounds in Qatar have complimentary Gyms, community pools and other recreational areas. However unfurnished villas for rent in compounds are the cheaper ones comparing to the Fully furnishes. As well as depending on the number of bedrooms, the average house rent varies. The most luxury and best compounds in Doha are typically located in Al-Waab, West Bay, Al Dafna, Al Sadd, Madinat Khalifa South, and Al Gharaffa.
4. Apartments: only if you’re living alone you are lucky enough to rent any type of apartment for less expensive prices! And if you are financially and professionally stable, you may even consider cheap homes rent to own! Who wouldn’t want to live on his/her own property? However if you have larger family, then again apartments or penthouses are reasonably cheaper comparing to houses for rent! Comparing to houses, you may even find furnished cheap apartments to rent.
5. Hotel Apartments: Hotel apartments in Qatar tend to be more expensive. But then again definitely cheaper than houses and villas! Additionally, you can even benefit from amazing amenities and facilities provided by the tower! In some cases, hotel apartments become even a more attractive accommodation than compounds for families! Cheap hotel apartments in Qatar can be found in places such as Musheireb, Al Naser, Al Mansoura, and Al Sadd. On the other hand, the expensive ones in Corniche Road, West Bay, and Souq Waqif. In my personal opinion, West Bay is the best area to live in; you’re close to many areas and are in the center of Doha! To give a recommendation, Ezdan hotel apartments!
In conclusion, one of the best benefits of apartments for rent in Doha, with considering all the above points, is they are generally cheaper and less expensive than to rent a house. As also discussed earlier, in many scenarios some of the utilities will be paid by the landlord, managers, or owners; basically you even save more money! Therefore, of course it’s more reasonable to say that apartments are a more affordable option to choose. But definitely opinions are different from one to another depending on the living lifestyle.
Therefore, it is more reasonable now to say that apartments are a more affordable option to choose.