Against all odds, it seems, both prices and sales are holding up at the Pearl Qatar.
According to Sotheby's Qatar, demand for the Porto Vista residential tower has been overwhelming - which must be a bright spot in a sector which elsewhere has been bruised by the global drying up of credit and consumers' plunging incomes.
If Sotheby's is correct, the Pearl's exclusive appeal is providing some resistance to the chill wind of recession despite the delays that have beset the development.
The real secret behind the property's success may be its location - not the old pearl beds which it has been built upon, but the tiny country which came up with such an ambitious project.
Qatar is one of the few countries forecast to grow its economy in real terms next year. Its huge natural resources are still luring investors both large and small to the country, and its zero tax rate on personal income make it a tax haven for the rich.
Meanwhile, residents and business people already here can obtained guaranteed residence permits by purchasing property in the country - and, by doing so, release themselves from the burden of sponsorship.
Search for Property Developer and Contractors on Qatcom.com
Read an Article about the Pearl Qatar
Qatar Construction Frenzy
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment