Qatar’s Residential Property Market Analysis 2025
Qatar's residential property sector is experiencing a gradual rebound, as increasing demand and improving macroeconomic conditions contribute to sustained house price growth.
Table of Contents
- Housing Market Snapshot
- Historic Perspective
- Demand Highlights
- Supply Highlights
- Rental Market
- Mortgage Market
- Socio-Economic Context
Housing Market Snapshot
In April 2025, the country's real estate price index rose strongly by 12.44% as compared to the same period last year, in stark contrast with the year-on-year price fall of 6.86% recorded in April 2024, according to figures published by the Qatar Central Bank (QCB). When adjusted for inflation, real estate prices were up by 11.74% over the same period.
"QCB's real estate price index shows signs of growth over the past nine months, after a fall in the first half of 2024. This reflects increasing confidence in Qatar's real estate market following some turbulent years," said Cushman & Wakefield in its Q1 2025 Qatar Real Estate Market Overview report.
In The Pearl Island, the average price reached for registered apartment sales in Q1 2025 was QAR 14,154 (US$3,888) per square meter (sqm), according to the Ministry of Justice. In Lusail, the average price of apartments sold was QAR 11,693 (US$3,212) per sqm over the same period.
Qatar's house price annual change:
Data Source: Qatar Central Bank.
Demand is noticeably improving. Based on data from the National Planning Council, real estate activities in Qatar grew by 6.3%, from QAR 12.7 billion (US$3.49 billion) in 2023 to QAR 13.5 billion (US$3.71 billion) in 2024. This was an improvement from huge contractions of 16.2% in 2023 and 25.5% in 2022.
Supply continues to increase, albeit at a slower pace. In 2024, the total residential stock reached 399,542 units, comprising of 251,513 apartments and 148,029 villas, according to ValuStrat. This was up by 1.4% from the previous year - a slowdown from a 2.6% growth recorded in 2023.
An additional 6,000 units are expected to enter the market this year, based on projections released by ValuStrat.
In recent years, Qatar has been grappling with excess supply following the construction boom tied to the 2022 soccer World Cup. The country currently has an estimated excess supply of more than 80,000 units.
After experiencing a cumulative house price fall of nearly 26% (-16.4% inflation-adjusted) from 2016 to 2020, the housing market improved dramatically in the past two years, buoyed by the introduction of more liberal foreign property ownership rules and after the Saudis agreed to end their sweeping economic and political blockade against Qatar in January 2021, restoring the air, land, and sea links to the emirate that were severed in June 2017. From 2021 to 2023, house prices increased by 8.3%, but still declined by 5.5% in real terms because of exceptionally high inflation in recent years. However, in 2024, the housing market weakened again, with house prices falling by 2.39% (-2.62% inflation-adjusted).
Despite the dramatic improvements seen in the early months of 2025, Qatar's housing market is expected to remain fragile in the coming months amidst heightened economic uncertainty and escalating geopolitical tensions in the region.
During 2024, Qatar's economy grew by a modest 2.4% from a year earlier, following annual expansions of 1.4% in 2023, 4.2% in 2022, and 1.6% in 2021 and a pandemic-induced contraction of 3.6% in 2020.
While hydrocarbons continue to play a major role in Qatar's GDP, non-hydrocarbon sectors are steadily expanding. In 2024, they contributed nearly 64% of total GDP, up from about 63% in 2023-underscoring the resilience and diversification of the Qatari economy amid volatile oil and gas prices and shifting global demand.
The Qatari economy is projected to grow by another 2.4% this year before accelerating to a 5.6% expansion in 2026, based on IMF estimates. Qatar had a GDP per capita of approximately US$71,600 in 2024 - one of the highest in the world.

Historic Perspective:
Housing boom and bust
In preparation for the 2022 FIFA World Cup, Qatari real estate boomed for three glorious years, 2012-15, fuelled by rapid population growth and a construction boom:
- In 2013, the real estate price index surged 20.74% (16.45% inflation-adjusted).
- In 2014, the real estate price index soared by 34.67% (31.81% inflation-adjusted).
- In 2015, real estate prices rose by 14.39% (10.75% inflation-adjusted).
However, in 2016, the value of real estate transactions plunged by about 50%, and prices fell by 4% (-5.15% inflation-adjusted). Real estate prices fell a further 9.9% (-10.4% inflation-adjusted) in 2017, by 2.6% (-2.4% inflation-adjusted) in 2018, and by another 8.1% (0.6% inflation-adjusted) in 2019, as Saudi Arabia's hostility adversely affected Qatar's economy. In 2020, the housing market continued to struggle, with prices falling further by 8.1% (-4.9% inflation-adjusted), amidst the Covid-19 pandemic.
In October 2020, the Qatari government responded by loosening its foreign property ownership rules, in an effort to attract more expatriates, foreign buyers, as well as real estate funds.
Then, in January 2021, the Saudis agreed to end their sweeping economic and political blockade against Qatar, which began four years ago. Qatar's politics are more liberal, which irritates the Saudis. In addition, Qatar, like Turkey, maintains support for the pan-Islamist Muslim Brotherhood, abhorred by the UAE and the Saudis, and maintains links to Iran, with which it shares a major oil field. The new deal restores the air, land, and sea links to the emirate that were severed in June 2017.
These factors have resulted in improved economic, as well as housing market conditions. House prices rose by 7.4% (-4.8% inflation-adjusted) from 2021 to 2022, in sharp contrast to the cumulative decline of 25.9% (-16.4% inflation-adjusted) in 2016-20, thanks to increased property demand. In 2023, house prices were more or less steady, with the real estate price index increasing by a meager 1.17% from a year earlier but falling slightly by 0.46% when adjusted for inflation.
However, last year, the Qatari housing market weakened again, with real estate prices declining by 2.39% (-2.62% inflation-adjusted).

Demand Highlights:
Residential demand increasing again
Based on data from the National Planning Council, real estate activities in Qatar grew by 6.3%, from QAR 12.7 billion (US$3.49 billion) in 2023 to QAR 13.5 billion (US$3.71 billion) in 2024. This was an improvement from huge contractions of 16.2% in 2023 and 25.5% in 2022.
In Q4 2024 alone, villa sales volume registered a substantial quarterly growth of 33.7%, while remaining steady on an annual basis, according to ValuStrat.
Doha and Al Rayyan had the highest volume of transactions for residential houses in Q4 2024. The Pearl Island and Al Qassar recorded a sales volume growth of 34.3% q-o-q in Q4 2024, leading to a 37.2% increase in sales value.
In recent months, the sales market has been largely driven by owner-occupiers rather than investors. Many apartment buyers are residents seeking to obtain residency permits and reduce rental expenses. This trend is further supported by developers in Lusail's residential districts, offering increasingly flexible structured payment plans for off-plan properties
"While the sales market has seen significant growth, the majority of purchasers are owner occupiers, many of whom seek the benefits of residency within Qatar that is granted to real estate owners," noted an earlier Cushman & Wakefield report.
Foreign property ownership eased
The new law introduced in October 2020 includes two important changes:
- It increases the number of locations where non-Qataris can purchase real estate outright
- It introduces a two-tiered residency program that rewards large investors with government-provided services
Earlier, the Qatari government approved Law No. 16 of 2018, which increased the number of freehold zones in Qatar from 3 to 10, effective last March 2019. Aside from The Pearl, West Bay Lagoon, and Al Khor, foreigners are now allowed to obtain freehold ownership in Rawdat Al Jahaniyah, Al Qassar (Area #60), Al Dafna (Area #61), Onaiza (Area #63), Al Wasail (Area #69), Al Khraij (Area #69), and Jabal Theyleeb (Area #69).
Foreigners who buy in designated freehold zones are automatically granted permanent residency, which extends to the owner's family, for the whole duration of the ownership. Those qualified include:
- children of Qatari mothers who are married to foreigners;
- people with special talents "needed by the state";
And other individuals who extended notable services to the country.
Foreign investors who buy a property valued above US$1 million will be eligible for permanent residency, which comes with government benefits such as education and health care (previously limited to Qatari citizens and long-time permanent residents). With the new law, semi-permanent residency status is now open to buyers of property worth US$200,000, who can obtain renewable residency permits for themselves and their families without the need to be sponsored by an employer.
Permanent residents of Qatar will be treated like Qatari nationals and enjoy benefits such as access to healthcare and education systems, priority (after locals) for military and civilian public jobs, and will have permission to operate commercial activities without a local partner, and permission to own property.
Three-fourths of Qatar's total population of 3 million are foreigners, according to the Qatar Statistics Authority (QSA). About 82% of the population lives in Doha and Al Rayyan. In addition, the Ministry of Justice has recently launched a special section on its website for non-Qatari real estate ownership. The page lists the areas in which non-Qataris may own and benefit from real estate and the procedures, terms, and conditions for real estate ownership and use. The page also answers the most common questions about real estate ownership in the country.

Qatar's Ministry of Justice has also established an Office for Non-Qatari Real Estate Ownership, according to Cabinet Resolution No. 28 of 2020, which is mandated to provide foreign nationals who want to reside or invest in Qatar with all the necessary requirements for the purchase and sale of real estate, including residential units and office.
However, citizenship will still be off-limits to foreigners.
Qatar National Bank (QNB), the country's leading financial institution, offers home and land financing at rates as low as 3.5%. The maximum loan offered to expatriates is QAR 3 million (US$818,850) with a term of not more than 15 years. One can borrow up to 70% of the value of the property.
Freehold areas for foreigners
Foreigners can buy in massive freehold areas:
The Pearl-Qatar
The Pearl is a QAR 36.4 billion (US$10 billion) Riviera-style development on a vast man-made island off the coast of Doha, the capital city. It provides over 40 kilometers of new coastline, linked to the mainland by a 4-lane, palm-tree-lined highway. Doha's international airport is only 20 km away. It was here that Qatar offered its first freehold properties.
Developed by the United Development Company, The Pearl-Qatar has 16,000 villas and 25,000 apartments.
Lusail City is a QAR 164 billion (US$45.1 billion) waterfront community on the northern coast of Umm Salal, 15 km north of Doha. It is expected to house over 200,000 residents in 10 hotels, 3,000 villas, 12,000 apartments, and retail areas.
Developed by Qatari Diar, Lusail covers an area of around 21 million sqm. This mega project, in 16 zones, will contain an Energy City costing QAR 9.5 billion (US$2.6 billion), and an Entertainment City, costing QAR 5.5 billion (US$1.5 billion). The Lusail Iconic Stadium is also expected to be built in the city. Construction for this massive development started in 2006 and is expected to be completed by 2025.
While most of Lusail City (zone 69), including its main districts (waterfront, Marina, and Fox Hills, among others), is designated for freehold ownership, allowing full and indefinite property rights for non-Qataris, certain parts are available only on a leasehold (99‑year usufruct) basis.
West Bay Lagoon
West Bay Lagoon is a 2 million sq. m. private beachfront compound, centered on the Zigzag Towers. At the northern tip of Doha's West Bay district, it is surrounded by artificial lagoons. The district is known for its luxurious waterfront villas, which are some of the most expensive in the country.
The villas cost about QAR 7,321 (US$2,011) per square meter (sqm) to purchase. On the other hand, villas can be rented for an average of QAR 11,083 (US$3,044) per month, according to The Pearl Gates.
Barwa - Al Khor City
The Barwa - Al Khor project is a complete city, including seafront chalets, villas, and elite apartments, covering 5.5 million sq. m. in Al Khor, 57 km north of Doha. The QAR 30 billion (US$8.25 billion) Barwa Real Estate development will house 63,000 residents in 24,114 elite residential units. It also has hotels and sports facilities.
In March 2019, Law No. 16 of 2018 was passed, which effectively increased the number of freehold residential zones from 3 to 10.
The additional freehold areas include:
- Rawdat Al Jahaniyah
- Al Qassar (Area #60)
- Al Dafna (Area #61)
- Onaiza (Area #63)
- Al Wasail (Area #69)
- Al Khraij (Area #69)
- Jabal Theyleeb (Area #69)
"The recent reform to change freehold ownership law will contribute to a positive transformation of the real estate sector, which will now embrace its cultural diversity through new initiatives designed to encourage investments and positively change business perspectives to ultimately result in overall economic growth," said Pawel Banach of ValuStrat.
There are also 16 leasehold areas for foreigners
Foreigners can alternatively buy leasehold property for 99 years, renewable, in 16 designated areas. Foreigners can use the properties commercially or residentially, transfer the lease to another party, and sublet or rent.
Al Waab City is a mixed-use development project owned by Nasser Bin Khaled Group, which covers about 1.2 million sq. m. Incorporating "green strategies" and sustainable design principles, it is estimated to cost QAR 13 billion (US$3.6 billion). The development includes 2,411 residential units, 232,715 sqm of commercial space, and a 425-room hotel complex. Phase 2 is due to be fully completed by 2025.
Other leasehold property developments in Qatar:
- Musheireb (Area #13)
- Frij Abdul Aziz (Area #14)
- Doha Al Jadeed (Area #15)
- Ghanem Al Qadeem (Area #16)
- Al Rifa Al Hitmi (Area #17)
- Al Salata (Area #18)
- Fereej Bin Mahmoud (Area #22)
- Fereej Bin Mahmoud (Area #23)
- Rawdat Al Khail (Area #24)
- Al Mansoura & Fereej Bin Dirham (Area #25)
- Najma (Area #26)
- Umm Ghuwailina (Area #27)
- Al Khulaifat (Area #28)
- Al Sadd (Area #38)
- New Mirqab Al Jadeed & Fereej Al Nasr (Area #39)
- Doha International Airport (Area #48)
Supply Highlights:
Supply continues to increase, albeit at a slower pace
In recent years, Qatar has been grappling with excess supply following the construction boom tied to the 2022 soccer World Cup. The country currently has an estimated excess supply of more than 80,000 units.
In 2024, the total residential stock reached 399,542 units, comprising of 251,513 apartments and 148,029 villas, according to ValuStrat. This was up by 1.4% from the previous year - a slowdown from a 2.6% growth recorded in 2023.
"While the pace of construction has slowed over the past two years, there is still a significant pipeline of new residential apartment supply in areas such as Lusail, Legtaifiya, Al Waab, and Mesaimeer," said Cushman & Wakefield. "The availability of apartments throughout Doha, combined with the upcoming supply, means it is unlikely that there will be any significant rental growth in the short term, outside of a small number of premium developments."
Approximately 3,000 apartments and 100 villas were completed during the last quarter of 2024. Key additions included 930 units across Giardino, Floresta, and La Plage South in The Pearl, as well as 742 units in Lusail Marina.
Qatari Diar launched premium waterfront townhouses at The Seef in Q4 2024. Meanwhile, Barwa Real Estate Group introduced the first phase of its Barwa Hills development in Lusail, featuring 57 one-bedroom units over a land area of 2,649 sqm.
For the whole year of 2025, an additional 6,000 units are expected to enter the market, according to ValuStrat.

Rental Market:
Steady rents; moderately good rental yields for apartments
In Q4 2024, the median asking rent for a residential unit in Qatar held steady as compared to the previous quarter but fell by 3.7% from the same period last year, according to ValuStrat. This is an improvement from a year-on-year decline of 3.6% seen in Q1 2024.
Qatar's rent price index:
Data Source: NPC.
This was supported by Cushman & Wakefield: "The real estate consultancy firm further noted that the residential rents have remained relatively stable over recent months, which has seen a summer slowdown followed by a spike in activity in late August and September - coinciding with the beginning of the school year."
| APARTMENT AVERAGE ASKING RENTS (QAR), Q4 2024 | |||
| Location | One-bedroom | Two-bedroom | Three-bedroom |
| Al Mansoura | 4,000 | 5,000 | 6,500 |
| Lusail | 5,500 | 6,750 | 8,500 |
| Al Sadd | 5,000 | 6,250 | 8,000 |
| Fereej Bin Mahmoud | 5,250 | 6,250 | 6,750 |
| The Pearl | 8,500 | 11,250 | 14,500 |
| Source: ValuStrat | |||
By property type:
- For apartments, the median asking rent stood at QAR 6,000 (US$1,648) per month, unchanged q-o-q but down by 6% y-o-y. Accordingly, the median monthly rental rate for a one-bedroom apartment was QAR 5,250 (US$1,442); a two-bedroom apartment was QAR 6,250 (US$1,717); and a three-bedroom apartment was QAR 8,000 (US$2,197).
- For villas, the median asking rent remained steady both quarterly and annually. The median quoted rent for a three-bedroom villa was QAR 11,500 (US$3,159) per month; a four-bedroom was QAR 12,250 (US$3,365); and a five-bedroom was QAR 13,750 (US$3,777).
| VILLA AVERAGE ASKING RENTS (QAR), Q4 2024 | |||
| Location | One-bedroom | Two-bedroom | Three-bedroom |
| Al Wakrah | 8,000 | 8,500 | 10,500 |
| Al Muraikh | 11,500 | 12,000 | 13,750 |
| Abu Hamour | 10,250 | 12,250 | 12,500 |
| Al Waab | 12,750 | 13,000 | 14,000 |
| West Bay Lagoon | 19,000 | 20,000 | 25,000 |
| Source: ValuStrat | |||
Residential rents are projected to remain stable in the coming months. "With the supply of apartments increasing, we do not expect to see a strong rental growth across the market in the short term," said Cushman & Wakefield. "Rental growth is likely to be limited to high-specification apartment buildings in prime locations."
ValuStrat reports that apartment rental contracts in Q4 2024 surpassed 15,000, up by 12% from the previous quarter but unchanged when compared to the same period last year. The high proportion of new agreements (95%) suggests significant tenant mobility within the country. The top-rented areas for apartments included Al Wukair, Al Mashaf, and Al Thumama, which cumulatively accounted for 4,529 leases in Q4 2024, up by 27.5% as compared to the previous quarter.
For villas, Q4 2024 saw around 5,500 lease contracts signed, marking a 3% q-o-q growth and 8.5% y-o-y increase, with new tenancies similarly comprising 88% of total agreements. The top-rented areas for villas were Soudan, Aziziya, Ghanim, and Murrah, with a total of 639 contracts in Q4 2024, down by 5% from the prior quarter.
About 59% of all occupied housing units in Qatar are rented, according to QSA. The average expat household in Qatar spends more than a third of its annual income on rent, according to Colliers International.
Gross rental yields for residential properties are moderately good in Qatar, which averaged 5.13% in Q1 2025, down from 5.61% in Q2 2024 and 5.5% in Q3 2023, based on research conducted by the Global Property Guide.
This is in line with ValuStrat's figures, which showed that residential gross yields in Qatar stood at 5.9% in Q4 2024, unchanged in the past year. Yields for apartments and villas were 8.3% and 4.7%, respectively.
By major area:
- In Doha, particularly at The Pearl, rental yields for apartments ranged from 3.21% to 6.58% in Q1 2025, with a city average of 4.57%, according to the Global Property Guide.
- At  Lusail, apartments offer gross rental yields ranging from 4.27% to 6.92%, with a city average of 5.7%.

Mortgage Market:
Mortgage market expanding again, amidst stabilizing interest rates
In May 2025, Qatar Central Bank announced it is keeping its key interest rates unchanged, with the deposit rate at 4.60%, the lending rate at 5.10%, and the repo rate at 4.85%, following a review of the country's monetary policy stance.
The QCB uses three main interest rates in its policy: the deposit rate (QCBDR), the lending rate (QCBLR), and the repurchase rate (QCB Repo). The deposit and lending rates apply to overnight transactions between QCB and local banks, while the lending rate serves as the key tool for signaling changes in monetary policy.
The central bank determined that the current levels remain appropriate given prevailing economic conditions and its commitment to maintaining financial stability. The recent move was also in line with the US Federal Reserve's monetary policy, given the long-standing currency peg to the US dollar.
With this, the size of Qatar's mortgage market grew to around 23.3% of GDP in 2024, up from 22.2% in 2023 and 21.6% in 2022, based on Global Property Guide's estimates. Though it remains lower than the record-high 29% of GDP seen in 2020.

Likewise, in terms of value, real estate loans are increasing again. In Q1 2025, the total amount of real estate loans outstanding, which include land purchases, property developments, and residential and commercial buildings, rose by 10.7% to about QAR 190.23 billion (US$52.25 billion) from a year earlier, according to figures from the QCB.
Expats can borrow up to QAR 3 million (US$824,000) with a maximum tenure of 15 years. The loan-to-value (LTV) ratio is typically 70%.
Socio-Economic Context:
Modest economic growth, low inflation
During 2024, Qatar's economy grew by a modest 2.4% from a year earlier, following annual expansions of 1.4% in 2023, 4.2% in 2022, and 1.6% in 2021 and a pandemic-induced contraction of 3.6% in 2020.
While hydrocarbons continue to play a major role in Qatar's GDP, non-hydrocarbon sectors are steadily expanding. In 2024, they contributed nearly 64% of total GDP, up from approximately 63% in 2023-underscoring the resilience and diversification of the Qatari economy amid volatile oil and gas prices and shifting global demand.
"This trend signals accelerating growth and increased diversification in the Qatari economy, shifting away from its traditional reliance on the hydrocarbon sector," said the National Planning Council. "Notably, non-hydrocarbon sectors demonstrated impressive performance, with a combined annual growth of 3.4%, while hydrocarbon activities remained stable."
Before the Covid-19 pandemic, the country's economy had already been struggling due to Saudi Arabia's economic blockade that lasted for about four years. The participating Gulf-based Arab nations cited Qatar's support for Islamist groups, violating a 2014 agreement with the members of the Gulf Cooperation Council (GCC), as one of the main reasons for the blockade. Qatar was also criticized by its neighbors for its amicable relations with Iran.
The four Arab nations issued a list of 13 demands on June 22, 2017, which included curbing diplomatic ties with Iran and shutting down Al-Jazeera. Qatar refused to comply, stating that it would not agree to measures that threaten its sovereignty. In a surprise move in December 2018, Qatar ended its nearly 60-year membership of the Organisation of the Petroleum Exporting Countries (OPEC) - the oil cartel dominated by Saudi Arabia.
As a result, the Qatari economy contracted by 1.5% in 2017 and posted meager growth of 1.2% in 2018 and 0.7% in 2019. Then the pandemic aggravated the country's already ailing condition, causing the economy to shrink by 3.6% in 2020 - its worst performance since 1990.
In January 2021, the Saudis agreed to end their economic and political blockade against Qatar.
Before the pandemic and the economic blockade, Qatar's economy had been growing strongly by an annual average of 16.5% in 2004-11 and by 3.8% in 2012-16.
The Qatari economy is projected to grow by another 2.4% this year before accelerating to a 5.6% expansion in 2026, based on IMF estimates. This growth is expected to be supported by robust public investment, spillovers from the ongoing liquefied natural gas (LNG) expansion project, as well as strong tourism.
Qatar has begun implementing its ambitious Third National Development Strategy (NDS3), aiming to create a more diverse, knowledge-based, and private sector-led economy. According to the IMF, reform efforts have gained strong momentum under the NDS3, focusing on attracting skilled expatriates, encouraging innovation, supporting public-private partnerships, and improving overall business efficiency.
However, the ongoing tensions between Israel, Iran, and the U.S. pose potential risks to Qatar's economy, primarily through regional instability and its impact on energy markets. As a leading exporter of LNG, Qatar may benefit in the short term from rising energy prices driven by geopolitical uncertainty. However, prolonged conflict could dampen investor confidence, disrupt trade and tourism, and slow progress on key reform initiatives under the NDS3.
Consumer prices in Qatar have remained relatively stable in recent months. In April 2025, the overall inflation rate was 0.48%, from 0.13% in the previous month and 0.71% in the same period last year.
Inflation surged to 5% during 2022, sharply up from an annual average of just less than 0.5% in 2015-21. It then moderated to an average of 3.1% in 2023 and eased further to 1% in 2024.

Government finances remain fundamentally strong
The country's finances remain strong. Qatar registered a current account surplus of 17.4% of GDP in 2024, following surpluses of 16.8% in 2023, 26.8% in 2022, and 14.6% in 2021, and a shortfall of 2.1% in 2020.
Qatar also recorded a budget surplus equivalent to 0.7% of GDP in 2024, following surpluses of 5.5% of GDP in 2023, 10.4% in 2022, and 0.2% in 2021, and a deficit of 2% of GDP in 2020, according to the Ministry of Finance.
"With lower hydrocarbon prices, both the current account and fiscal surpluses narrowed in 2023, to 17 percent of GDP and 5½ percent of GDP, respectively. The twin surpluses moderated further in 2024," said the IMF.
In Q1 2025, Qatar posted a budget deficit of QAR 500 million (US$137 million), in sharp contrast with the QAR 2.06 billion (US$565.8 million) surplus recorded in the same period last year, according to the Ministry of Finance. The shortfall was due to a decline in hydrocarbon revenues, despite slightly reduced government spending.
As a percent of GDP, Qatar's government gross debt narrowed to 40.8% in 2024, down from 43.7% in 2023, 42.6% in 2022, 58.4% in 2021, and 72.6% in 2020.

Qatar continues to receive strong sovereign credit ratings from all major international agencies. Fitch Ratings reaffirmed Qatar's long-term foreign currency rating at 'AA' with a stable outlook in March 2025, citing the country's solid fiscal and external positions. Similarly, Standard & Poor's maintained its 'AA' rating with a stable outlook in May 2025, reflecting continued confidence in Qatar's macroeconomic stability. Moody's also upheld its 'Aa2' rating with a stable outlook as of January 2024.
"The 'AA' rating reflects one of the world's highest GDP per capita, our expectation that additional gas production will strengthen public finances and a flexible public finance structure," said Fitch Ratings.
Sources:
- Qatar Real Estate Price Index (Qatar Central Bank): https://www.qcb.gov.qa/
- Residential sales market sees upward trajectory in Qatar (Cushman & Wakefield): https://cushmanwakefield.qa/
- Qatar - Real Estate Review Q4 2024 (ValuStrat): https://valustrat.com/
- Qatar - Review 2024 - Outlook 2025 (ValuStrat): https://valustrat.com/
- Gross rental yields in Qatar: Doha and Lusail (Global Property Guide): https://www.globalpropertyguide.com/
- Qatar drafting new laws aimed at boosting foreign investment (Reuters): https://www.reuters.com/
- Qatar introduces new Real Estate Registration law (Sovereign Group): https://www.sovereigngroup.com/
- Here's a list of areas in Qatar where you can own real estate as a foreigner (Doha News): https://dohanews.co/
- Your Guide to Property Ownership in Qatar - Freehold vs Leasehold (Property Finder): https://www.propertyfinder.qa/
- Monetary Policy Committee Resolution on: Monetary Policy Instruments - June 2025 (Qatar Central Bank): https://www.qcb.gov.qa/
- Qatar Central Bank Maintains Current Interest Rates (Qatar News Agency): https://qna.org.qa/
- Financial and Monetary Statistics (Qatar Central Bank): https://www.qcb.gov.qa/
- Ministry launches special section on website for non-Qatari real estate ownership (The Peninsula): https://thepeninsulaqatar.com/
- NPC Secretary-General: Qatar's Economy Sustains Growth and Progresses Steadily Towards Diversification (National Planning Council): https://www.npc.qa/
- Qatar (International Monetary Fund): https://www.imf.org/
- IMF Executive Board Concludes the 2024 Article IV Consultation with Qatar (International Monetary Fund): https://www.imf.org/
- Qatar Current Account to GDP (Trading Economics): https://tradingeconomics.com/
- Fitch Affirms Qatar at 'AA'; Outlook Stable (Fitch Ratings): https://www.fitchratings.com/
- Qatar records $137m budget deficit in Q1, ending 3-year surplus streak (Arab News): https://www.arabnews.com/