Qatar’s present real estate prices stand 9% above pre-recession peak: Samba
Samba Financial Group has said the recent surge in Qatar’s real estate prices is unlikely to destabilise the local economy’s robust growth, as the market fundamentals appear solid, Gulf Times has reported. Since June 2009, the average price of real estate in Qatar has rebounded by 129.4% as of March 2014, and now stands 9% above its pre-recession peak, Samba said in its latest Qatar economic bulletin. The pace of growth was especially marked in 2013 when prices rose by an average of 20%, though this is still well below the exuberant rate of increase seen prior to the crash in 2008. Year-on-year growth has moderated somewhat since the turn of the year, averaging 14.5% from January to March. “But clearly the dangers of any emergent real estate bubble need to be carefully assessed,” Samba said.