How high are realtors´ and lawyers´ fees in Qatar? What about other property purchase costs?
|Costs paid by buyer
|Costs paid by seller
|ROUNDTRIP TRANSACTION COSTS
| See Footnotes
Source: Global Property Guide
Process of buying property
Foreigners are allowed to obtain freehold ownership in specific areas in Qatar: The Pearl, West Bay Lagoon, and Al Khor. Foreigners who buy in any of these areas are automatically granted residency, which extends to the owner´s family, for the whole duration of the ownership.
Mostly, transactions involve off-plan properties, and are purchased directly from the developers. If the buyer wants to sell the property before completion of the development, it has to be sold through the developer as well.
When buying through a developer, a deposit is paid upon signing of the sale contract. Staggered payments are then made throughout a certain period, according to the plan chosen by the buyer. Usually, full payment is not done until the actual unit is available.
When buying a unit in The Pearl, for instance, 20% of the purchase price is required as a down payment to secure the unit. The remaining balance is divided into a 75% of the purchase price to be payable by quarterly installments, and 5% due on completion date.
It takes around 13 days to complete the process of registering a property.