DOHA: The residential segment of Qatar's real estate sector experienced a mixed response in the rate of growth of asking price in the year 2011.
In the fully furnished residential sector, though there was a slowdown in the growth rate of asking rates for villa units in the first three quarters, the final quarter witnessed an upward moving trend in the rates, a real estate solution provider reported.
For three bedrooms apartment units, in the first and last quarter, the average asking rates were positive but for the second and third quarter the rates of growth were increased, but at a lower growth rate.
For two-bedroom apartment units, the rates of growth were increased a decreasing rate except in the first quarter and the trend was similar for single bedroom apartment units, the research note said.
For unfurnished residential units, the average rate of growth of asking rates for villa units slowed down. However, in the first three quarters and in the last quarter, it was positive. For three bedrooms and single bedroom apartment units, the average asking rates were increased in the first and last quarter whereas, the rates were increased, again at a slower rate.
The research note said that the average rate of growth of asking rates for villa units and three bedrooms apartment units were registered more promising growth due to the considerable decrease on the rates in this sector and increased return to their efforts in the middle class expatriate.
"When we consider the average rate of growth for all the four quarters of 2011, it is found that the percentage change in the rate of growth for all residential units except fully furnished two bedrooms apartment units was increased at a decreasing rate in this year. It implies that the rental rates were increased by less than what prevailed in the previous quarters"
The trends in the rate of growth of average asking rates in major residential areas in Doha were revealed an up and down movement. The rates were more showed potential in the last quarter and in this quarter, it was positive in many of the residential areas. The overall rate of growth in this sector was increased at a decreasing rate of -4.05 percent.
© The Peninsula 2012
