Demand surges for Lusail apartments in third quarter of 2023

Lusail

Despite a decline in apartment rental rates in the second quarter of this year, various industries nationwide have exhibited signs of stabilization. Notably, the third quarter of 2023 saw a rise in demand for apartments in Lusail, according to Cushman & Wakefield's quarterly report.

The report highlights, "The combination of reduced rent and rent-free incentives led to increased demand for apartments in The Pearl Qatar and Lusail in August and September, coinciding with the start of the school year."

With a surge in supply, there is a growing discrepancy in occupancy rates across the market. Cushman & Wakefield noted, "High-specification buildings with quality property management are increasingly attracting prospective tenants, despite indications of higher vacancy rates in the overall market.