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Discuss this article (0 Comments)Doha property prices fall 50%
by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 23 November 2008
PRICE DROP: Agents said property prices, land prices and rents have fallen sharply in the last month. (AFP)
Property prices in Doha's suburbs have tumbled almost 50 percent in the last month, while rents have fallen as much as 20 percent as the global financial crisis hits Qatar's real estate market.
Land prices have also dropped around 30 percent in the last month, Qatari daily The Peninsula reported on Sunday, citing agents.
Plots in some suburbs have dropped to 400 riyals ($110) per square metre, while apartments that were going for 10,000 riyals per month are now being offered for 8,000 riyals, the newspaper said.
The paper did not give any figures for property prices.
Agents said they expected prices to slide further, according to the paper.
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