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Landlords blamed for empty Doha residential blocks

Allegations owners only looking to let to big companies

NEWS, Business, Price hike, Rent, Shortage

While rentals escalate because of the ever-increasing expatriate population pouring into Doha, entire residential blocks are currently standing vacant.

All round the city, new, ready-to-use residential buildings lie empty despite the increasing demand for accommodation.

While the demand for housing, particularly in Doha and its near-suburbs, far exceeds supply, real estate market operators say that the owners of these buildings only want to let them to companies and not to individuals and families.

It appears that owners of new buildings prefer big companies to rent out flats and, to add to the accommodation pressure, they are content to wait while the rents increase

Real estate expert, Faisal Al Dosri told local Arabic daily Al Arab: “It’s undoubtedly a negative phenomenon and adversely impacting the rental market.”

He said it appears that landlords are trying to avoid the associated ‘problems’ around renting, like delayed rent payments and the need to collect rent from individuals.

“Also, when striking a deal with a big company, it could be for longer periods, of up to three years, for instance, and the rents could be in a lump sum,” Al Dosri told The Peninsula.

While owners may benefit from this policy, it puts additional pressure on the limited-income man, who suffers while the rents increase because of created shortages. This is creating an environment of ‘sharing’ where limited-income people move into shared apartments and partitioned villas, said Al Dosri.

Added to the mix, is the rising cost of building materials as mega development projects are launched, creating more demand for materials that would trigger shortages, tempting some to profiteering, said Al Dosri. “This would escalate house rents in the months and years to come,” he warned.

Coupled with this is the lack of official monitoring around real estate brokers who, according to Al Dosri, remain on the prowl, some illegally operating from their cars, making it harder for the limited-income family man who is on the lookout for affordable housing, he added: “There is no official monitoring. Such brokers are operating without fear.”

 

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