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FINANCIAL NEWS
Property rental rates in Qatar 8% up in Q2
10 Jul 2012
(MENAFN) A recent report issued by real estate consultancy firm Asteco Property Management showed an increase by 8 percent in rental rates for apartments in Qatar during the second quarter of the year, Arabian Business reported.
The report said that average villa rentals saw a 4 percent rise from the first quarter, led by villas in West Bay Lagoon with an average of USD6,500 per month for a four-bedroom property.
The figures showed that average rental rates for one bedroom on the Pearl-Qatar reached USD2,633 per month, while two-bedroom rates reached USD3,510 per month.
On the other hand, Najma area saw the lowest rates, with two-bedroom apartment priced at USD979 per month, said Asteco.
Asteco said that rental rates for offices remained flat in the quarter, although continued supply through 2013 will still exceed improved demand especially from companies involved with infrastructure projects.
Demand is concentrated on fully fitted offices less than 500 sqm in good locations, led also by West Bay offices with rates reaching USD52.66 per sqm per month.
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