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Tuesday, April 06, 2010

BBC: Qatar Housing Crash

Qatar's steep housing price falls have made it onto a BBC news report.

The UK news channel, while pointing out that the country is forecast to grow by 16% this year, chronicles the over building which has lead to a surplus of demand over supply.

A representative of The Pearl, interviewed for the report, claims that it is taking a long term view and that it has not seen any price reduction.

Despite the title of the video, not everything in the report is negative.

The country can be pleased that it now pays the highest salary in the Gulf, a salary which is "luring" job seekers to the country.

The report also suggests that the outlook for prices in the long term is more positive.

You can see the full report here: Overbuilding Causes Qatar Crash.

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