Official data reveals 3.8% decline over March levels and a drop of 5% over November’s all-time high
Real estate prices in Qatar have seen a steady fall in the second quarter of this year from their peak in March, according to an index of prices released by the Qatar Central Bank (QCB).
According to the QCB, the country’s real estate index for June 2016 has fallen 3.8% to 295.8 points from 307.6 points in March 2016, according to a report in The Peninsula daily. The index did however rise by 4.15% in June this year compared to the same time in 2015.
The index reached its all-time high of 311.1 points in November last year from which it had declined 5% in June. Each of the three months of the second quarter of this year has seen a near-identical decline of around five points in the index, said the report, quoting data released by the QCB.
The report speculated that the huge public spending on infrastructure ahead of the 2022 FIFA World Cup as well as for the Qatar National Vision 2030 programme will keep the country’s real estate sector generally buoyant.