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Rental falls in Qatar 'benefitting real estate middlemen'

02 Feb 2010

Rental falls in Qatar 'benefitting real estate middlemen'
Real estate middlemen who hire villas and residential apartments before subletting them are making a profit from recent falls in rental prices in Qatar, it has been suggested.

Most middle-income people in the country cannot afford to hire out such property on their own, so are reliant on sharing a large villa or flat with other tenants.

The middlemen, often operating illegally, are able to hire out the villas and then sublet them at higher prices, reports the Peninsula.

"In the past old villas were being offered by such agents on a shared basis. With the availability of several new villas and large flats across the country, they have now shifted their focus," one real estate worker told the newspaper.

Last month, an online poll carried out by Al Sharq Daily revealed that 61 per cent of people in Qatar back recent proposals to extend a current freeze on rental prices, which is set to end this month.
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