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Qatari Riyal: The Qatari Riyal is pegged to the US Dollar, US$ 1 = QAR 3.64 and therefore maintains regular parity with other Gulf currencies as well as dollar related source funds.
Economic climate: There is no taxation on personal income and no withholding and VAT tax in Bahrain. Qatar does however impose corporation tax. The Gulf state is in commercial boom and property prices are likely to increase, as there is great interest in the Riviera style projects such as The Pearl-Qatar.
Capital Gains Tax: Capital Gains tax does not exist in Bahrain and any other form of property levy other than the developers service charge mentioned below is yet to be defined in ongoing legislation but is unlikely in the medium term.
Popular Areas: The Qatari government will grant foreigners the right of total freehold ownership in the specific developments: The Pearl - Qatar Island, West Bay Lagoon and Al Khor. Properties in high-rise buildings in residential areas and in government designated ‘Investment Districts’ are sold subject to 99 year lease conditions.
Price ranges: Property prices are likely to stand up well against competing Gulf states at around 8700 QAR per square metre especially as the level of quality and facilities involved is most certainly at the top end.
Overseas Investors: The Qatar Government’s decision to open up the real estate market to foreign investment was ratified in June 2004 with the enactment of “Law No. 17 of 2004 Regulating the Ownership and Usufruct of Real Estate and Residential Units by Non-Qatari’s”.
Service Fees: There is no separate purchase fee structure. For example in The Pearl-Qatar a deposit is paid followed by regular quarterly payments up to completion. An ongoing post completion service fee is payable to the developer for upkeep of infrastructure and environment on 100% freehold projects.
Mortgages: Commercial Bank of Qatar is currently the only mortgage loan provider approving finance for foreign expatriates at the time of going to press. As further projects are released we understand that there will be additional institutions who are preparing to offer home loan products.
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http://www.propertyworldme.com/content/html/1398.asp
Economic climate: There is no taxation on personal income and no withholding and VAT tax in Bahrain. Qatar does however impose corporation tax. The Gulf state is in commercial boom and property prices are likely to increase, as there is great interest in the Riviera style projects such as The Pearl-Qatar.
Capital Gains Tax: Capital Gains tax does not exist in Bahrain and any other form of property levy other than the developers service charge mentioned below is yet to be defined in ongoing legislation but is unlikely in the medium term.
Popular Areas: The Qatari government will grant foreigners the right of total freehold ownership in the specific developments: The Pearl - Qatar Island, West Bay Lagoon and Al Khor. Properties in high-rise buildings in residential areas and in government designated ‘Investment Districts’ are sold subject to 99 year lease conditions.
Price ranges: Property prices are likely to stand up well against competing Gulf states at around 8700 QAR per square metre especially as the level of quality and facilities involved is most certainly at the top end.
Overseas Investors: The Qatar Government’s decision to open up the real estate market to foreign investment was ratified in June 2004 with the enactment of “Law No. 17 of 2004 Regulating the Ownership and Usufruct of Real Estate and Residential Units by Non-Qatari’s”.
Service Fees: There is no separate purchase fee structure. For example in The Pearl-Qatar a deposit is paid followed by regular quarterly payments up to completion. An ongoing post completion service fee is payable to the developer for upkeep of infrastructure and environment on 100% freehold projects.
Mortgages: Commercial Bank of Qatar is currently the only mortgage loan provider approving finance for foreign expatriates at the time of going to press. As further projects are released we understand that there will be additional institutions who are preparing to offer home loan products.
http://www.propertyworldme.com/content/html/1398.asp