Qatar- Unlicensed brokers blamed for hike in property rates

(MENAFN- Gulf Times) Some Qataris have expressed concern over the presence of unlicensed real estate brokers in the market, who they say are responsible for the hike in property rates, local Arabic daily Arrayah has reported.

They also argue that non-enforcement of Law No 13 of 2011 has resulted in the proliferation of brokers and real estate offices, which has aggravated the problem of steep hikes in real estate rates, according to Arrayah.

Further, the citizens have stressed the importance of amending Law No 4 of 2008 concerning rents and Article 2 of Cabinet Decision No 9 of 2008 pertaining to the annual rate of rent increase, which is 5% to 20%, the report states.

The nationals argue that non-enforcement of Law No 13 of 2011, which pertains to regulating the real estate brokerage sector, has made this profession the choice of those who have no other jobs and who control the real estate market and increase prices through speculation.

They point out that many of the brokers have no established office and carry out their work from cafeterias and other public places, according to the report.

Arrayah quotes Ibrahim al-Ajlan, a citizen, as saying there are brokers even in some licensed offices who try to communicate with land and building owners and convince them that they (brokers) could fetch prices higher than those mentioned by the agencies.