As experts in real estate brokerage in Qatar, one of the questions we frequently hear from our expat clients is whether they are allowed to sell their houses. That happens sometimes even from the moment of buying, as there are people that comprehend the potential of investing in real estate in Qatar. And yes, with 6-10% ROI for properties and property tax-free, investing in real estate is an opportunity to catch -especially in The Pearl which has the greatest return on investment in the local market.
This subject, we have previously discussed thoroughly. Today we are going to detail you about selling an apartment or villa in Qatar, the range of prices for properties, the documents you need, and what to do next – especially if you are a foreigner.
1. Are foreigners allowed to sell properties in Qatar?
Actually, foreigners are allowed to own properties in Qatar. Consequently, expats are allowed both to buy and sell properties.
You may find more about the areas where you are allowed to buy and sell in Qatar in our previous articles.
2. Is it profitable to invest in properties in Qatar?
Yes, it is, as previously described. In the close future, we forecast a greater growth in selling volume, implicitly in price. That would be owned by the approaching FIFA World Cup 2022.
The main arguments to sell your property in Qatar, regardless of the type (apartment, villa, even land) are the great ROI ( 6-8% as previously stated) and relaxed taxation in this country.
3. What do you have to know before selling a house?
First of all, analyze the market price per segment.
- -If there is no urgency in selling the house, take your time for the entire real estate process, visiting time.
- – Selling a house can be a long-term process, especially if you are doing it for profit only. If you are in a rush, do not negotiate too low under the market. Our recommendation is to take a longer range of time for selling the house and keep the price up to the market.
- -Research your potential market, and draw a buyer profile. Expats moving to Qatar are a starting point, hence, list your advert in English.
- – Plan a scheduled time for visiting and announce the potential buyers when you are available.
- – Do not stop promoting the property for sale unless you close the contract. A verbal promise is not a deed.
4. Property price
Before listing a property, take care to fix the correct price. A good resource is the real estate portals in Qatar, Propertyfinder.com – being the largest of all. Also, check within our portfolio or you can contact us for assistance.
5. Time for closing the real estate sale contract. What documents do you need?
The property transfer procedure is simple and low cost. All you need is:
- – ID (or passport, if applicable), original, and copy.
- – Property deeds in original and copy. Property Act can be a sales contract authenticating by a notary public, a donation contract, a certificate of an heir, a judgment, etc.
- – Tax certificate. A tax certificate is obtained from the Directorate of Local Taxes of where the property is situated. The certificate is valid for 30 days from the date of issue.
- – Energetic certificate.
The easiest way to sell your house is to ask for specialized assistance. We are here to help you to sell your property on your behalf.