If you like the idea buying a property and getting a new country to call new home, then this is a news for you. Buy a property, get a new home as long as you still own the property. Okay, let’s be realistic. This is definitely for the very wealthy who has enough money to spend. This offer to all foreigners to the country comes from a country which is close to 6,000km away from Malaysia. Below image is from the one who knows it all; google.com
Yes, it’s from Qatar and the city we are talking about is DOHA. DOHA is the capital city of Qatar and has slightly less than 3 million populations of which only 15% are Qatari citizens. Yes, I know, “wow…”
Article in freemalaysiatoday.com DOHA has launched a scheme for foreigners in its property market. Well-heeled individuals are invited to buy a unit in the glistening seaside tower blocks of Doha’s man-made Pearl island or the brand new Lusail city project that flanks a World Cup stadium. Retail units in malls also qualify buyers for residency.
This will help soak up an oversupply of units, which has left gleaming towers half-empty and seen prices drop by almost a third since 2016, according to consultancy ValuStrat’s Price Index for residential property. While previously an investor needs sponsorship from a Qatari business or individual for residency, but now a US$200,000 (RM814,000) property purchase secures temporary residency for the term of ownership. A US$1 million (RM4.07 million) purchase buys the benefits of permanent residency, including free schools and healthcare. Please do read the full article here. Article in freemalaysiatoday.com
RM814,000 really do look affordable versus many other advanced nations
I guess the price which is being offered is quite affordable when compared to many other properties from advanced nations. In fact, even when compared to a high-rise unit nearby KLCC, this RM814,000 really do look cheap. Let’s not even need to compare to some high-rise units in some other less developed ASEAN cities for which foreigners are major buyers yeah. Those places are also sold in US$ as well and anyone earning a local currency will never be able to catch up to the rise, forever.
How is DOHA, really?
Here’s a pretty good overview (click here to read) about DOHA and an image which shows you what has happened to this city which was actually built on a desert…
Another image to give an overview about Qatar yeah.
I have never visited any countries in the Middle East but my good friend who’s staying in Abu Dhabi has offered accommodation if I do visit. Yes, there are direct flights but I guess we can only travel later on when COVID-19 pandemic has subsided. Happy reading about all these interesting news about other countries and their property markets yeah. Cheers.
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