Qatar rents rise by 7% in 2015 despite cheap oil impact

Rental levels in Qatar continued to rise strongly during 2015 despite the backdrop of on-going economic uncertainty and a sustained period of low oil pricing, according to consultants CBRE.
It said in its H2 2015 Qatar MarketView report that residential rental levels increased by approximately 7 percent year-on-year although a slowdown in growth was witnessed towards the end of last year.
“Albeit, this was down from the 14 percent annual growth achieved during the same period in 2014. Rental rate growth during the second half of the year was around 5 percent, although growth in the final quarter was measured at just 1 percent,” said Mat Green, head of Research & Consulting UAE, CBRE Middle East.
“There has been increasing evidence of tenant relocations and downsizing, with some occupiers moving into smaller units or choosing more affordable accommodation in less prominent areas of the city,” added Green.

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