Luxury Property: The Evolution of the Middle East Market

Posted On: 17 09 2019

Luxury Property: The Evolution of the Middle East Market

There has always been something quite unique and elusive about the Middle East. Geo-politically speaking it has never fallen in an easily identifiable box of behaviours or patterns, demographically it has never been anything but filled with diversity and socially it has often been far more adventurous than predicted (this doesn’t make sense? Maybe split to two sentences?). This transcontinental region has long fascinated other parts of the world with its deep traditions, rich flavours and different way of life, but its gradual conquering of other global aspects has taken an upward shift in recent decades, particularly in the luxury property market.

Whilst there has been undeniable strife within the region, and surrounding it, throughout history, it is hardly surprising that parts of this area would one day be synonymous with modern luxury living; decadent opulence has always been imbedded in many of the cultures in this part of the world, from slivers of gold to grand, majestic palaces. Many of the countries may not have been well understood by neighbours, but few people could miss their incorporation of love of flavour, love of family and love of ostentatious wealth. It was these devoted pursuits that saw the meteoric rise of many dynasties within the region, the growth of international trade and the undeniable need for the rest of the world to sit up and take notice.

Globally recognised multi-nationals started moving into to several Middle Eastern capitals in order not to miss out on opportunities and they were quickly followed by some of the world’s finest hotel chains. Up until this point, the luxury property market had been somewhat haphazard in design, in many cases allowing citizens to build their own mansion-style villas in key locations, with no strategic overview planning. With the introduction of more diverse influences and the eyes of the world, many countries chose to embrace the potential of status building and employ developers and real estate consultants to design communities that brought out the best of the country and its potential. This trend saw enviable destinations emerge from our desert-like terrain, from lush, green oasis style complexes with spacious four bedroom apartments overlooking landscaped gardens to chic, city-centre penthouses to beach-front six bedroom villas with private beaches and unforgettable views. Theses luxury communities not only utilised the latest technologies in smart home automation, they offered privacy, community, innovative design and the height of luxury living. Understandably, it didn’t take long for the international community and international property investors to take note; this was the place to be for the best of the best.

As one of the most internationally embraced and innovative countries within the Middle East, Qatar has dominated the luxury property market since its explosive entry notified savvy buyers that a new player had raised the stakes. The host of the FIFA World Cup in 2020 and one of the richest countries in the Middle East, Qatar is certainly at the vanguard of luxury property in the region. There is a visionary splendour to their ability to weave together the opulence of old with the convenience and style of the new. Having the foresight to recognise the potential of merging new traditions and with authentic heritage has created an environment in which the most diverse and profitable communities can rise. With so many people flocking to this thriving location, the property market was quick to cater to the need for Arabic luxury twisted with international comforts. Now buyers can choose from luxury villas with private pools in gated communities to opulently decadent hotel residence apartment living and luxury sky-high city centred penthouses to accommodate any size of family or desires.

Watching the evolution of luxury property within the Middle East region and especially in Qatar has been a lesson in history, innovation and visionary thinking. Never before has an area embraced potential and inclusion to a more effective and lucrative end. This is a luxury property market that shows no signs of slowing down, especially with more and more international events scheduled in the region. Luxury property buyers or those looking for fantastic returns on their property investment portfolio will find few locations better equipped to make their dreams come true. Qatar Sotheby’s International Realty is at the centre of it all.

If you would like to find out more about the luxury properties for sale in Doha, Qatar or the wider Middle East, please get in touch with one of our expert property consultants via info@qatarsothebysrealty.com or +974 4440 8334