Qatar: 'Rightsizing' may result in cheaper rentalsby Kim Kemp on Feb 28, 2016
Access to more housing optionsn could be on the cards as companies downsize in the wake of expatriates leaving Qatar over job uncertainty.
Flats occupied by middle-income expatriates are expected to lie empty in the coming days, say real estate industry insiders.
Some real estate agents are offering single expats accommodation vacated by families who have reportedly left the country or are planning to send their families back home.
Realty agents and property owners may be obliged to consider offering such vacant flats to single expatriates, according to a real estate professional whose firm, until now, has mostly catered to families, Gulf Times reports.
The insider outlined that many of his long-standing customers were vacating their family housing and asking for smaller units instead at lower rents, "This is owing to job uncertainties," he added.
Some expatriates with job-related uncertainties are also allegedly waiting for the present academic year to finish before they can send their children back to their home countries.
In light of the emerging circumstances, owners of some buildings in the city, where previously it was difficult for single expatriates to hire apartments, are now willing to have them as tenants, it has been revealed.
"While such landlords or their representatives would not respond to any queries from bachelors earlier, they are now showing interest in giving their properties to such groups of expatriates on rent," said an official of a real estate company.
Sources told Gulf Times that some of the flats vacated by single expatriates in the wake of rightsizing by companies were still lying vacant as the owners were unable to get new tenants.
This has led to optimism that rentals will drop accordingly.
- Sohar Industrial's $51m Phase 7 works 30% complete
- Kalmar to supply tractors to Khalifa Port Terminal
- Levitating pods to revolutionise UAE transport
- Two-for-one offer on CW digital subscriptions
- Dubai Industrial Strategy to add $45bn to economy
- KBW brings Ascorel technologies to the region
- Kuwait's Al Hamra Tower team honours AESG
- CWOnline.com passes one-million page views in May
- UAE: Majid Al Futtaim to invest $13bn by 2026
- Terex boss welcomes end to Zoomlion takeover talks