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Tue 16 Feb 2010 07:59 AM

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Qatar removes cap on residential rents

Gulf state's leader issues new real estate legislation allowing free negotiations between landlords and tenants.

Qatar removes cap on residential rents
RENTAL MOVE: Qatar has removed the cap on residential rents. (Getty Images)

Qatar has removed the cap on residential rents, allowing landlords and tenants to negotiate more freely over price.

The Gulf state's Emir Sheikh Hamad bin Khalifa al-Thani passed a new rent law ending the two-year freeze on residential rents which had been imposed amid spiralling inflation in 2088.

But the new regulations, reported by media in Qatar on Tuesday, extended the ban on increasing rents of commercial properties for another year.

The old rent law, with the exception to the amendment of Article 27, will be in force for all other landlord-tenant related matters in the country, it was reported.

The 2010 legislation also specifies some conditions under which the owner of a shop or commercial property can ask to evict a tenant from the premises even when the tenancy agreement is valid.

Property services firm Asteco said in a report last month that Qatar's residential rental market remained flat over the last three months of 2009 but witnessed a marginal increase in interest from tenants assessing the market towards the end of the quarter.

It said the more established villa market continued to outperform apartments.

In Doha's less-established areas, monthly rental levels for one-bedroom apartments ranged from QR3,500 up to QR4,000, two bedrooms from QR5,000 to QR7,000, and three bedrooms ranged from QR6,000 to QR8,000 per month, the report said, while apartments in the prime areas of West Bay and Lagoon Plaza ranged from QR7,500 to QR12,000 for one bedroom, QR11,000 to QR18,000 for two bedrooms, and QR15,000 to QR20,000 for three bedrooms.

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