Qatar rents headed for crash

Housing rents in Doha are heading for a crash due to an expected oversupply, Qatari newspaper the Peninsula reported on Monday.

There are already 15,000 apartments ready for leasing but landlords are unable to find tenants, the daily reported, citing Nasser Mohamed al-Mansoory, chief executive of property investment group Qatar Oman Investment Co.

The Peninsula said Qatar’s population has dropped to 1.6 million from 1.9 million due to job losses in the economic downturn.