30% of Qatari HNWI set to spend more than US$ 1mln on real estate this year

30% of Qatari HNWI set to spend more than US$ 1mln on real estate this year

QATAR: Leading global property consultancy, Knight Frank, unveils fascinating findings from its debut "Destination Qatar" report. With Qatar boasting the fourth highest GDP per capita globally at an estimated US$ 69,000, a significant surge in demand, especially from domestic buyers, is evident in the real estate market, particularly the luxury sector.

The 2023 Destination Qatar survey, conducted in partnership with YouGov, delves into the investment behaviour of 30 high-net-worth individuals (HNWIs) in Qatar, with a cumulative net worth exceeding US$ 155 million.

Residential and Office Sectors Emerge as Top Investment Choices for Qatari HNWIs

The survey reveals a preference for the residential sector among the interviewed HNWIs, with 37% naming it as their primary investment target. The office sector is a close second, preferred by 33%, and the retail sector completes the top three with a 23% preference.

Faisal Durrani, Partner – Head of Middle East Research at Knight Frank, explains: “Qatari high net worth individuals are focussed primarily on the residential and office sectors for real estate investments this year. The residential market in particular has been a significant beneficiary of the US$ 229 billion infrastructure spend to transform and modernise Qatar in the run up to the World Cup, 2022. The resultant