Issue No 258 -26 Feb 2008
 
  Qatar freezes rents for two years

Qatar's revised rent law forbids landlords from raising rents for the next two years, said a media report citing the Minister of Municipal Affairs and Agriculture.

The law 'does not permit landlords to increase rentals for a period of two years,' Sheikh Abdulrahman bin Khalifa Al-Thani was quoted as saying in the local Peninsula newspaper on Wednesday.

The ministry will study how much of a rent increase it will allow after the two years, the paper said.

The Gulf state passed the law on Friday, newspapers reported last week.

A 27.7 per cent surge in rents spurred inflation in the world's largest exporter of liquefied natural gas to 13.74 per cent in December, the second-fastest pace on record.

Qatar, which is adopting price controls to curb price rises, could lower the cap on rent increases that landlords can charge by three percentage points to 7 percent, the Peninsula reported last week.


Source: Trade Arabia News
     
   

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