REOS Qatar Q1 2026 Calls: Average Zone Prices Up 40.2% by Q3

In the first quarter of 2026, REOS flagged 12 Qatar zones as opportunities: 11 as BUY and one as BUILD. Six months later, the average registered sale price across those 12 zones had moved by +40.2%. Ten of the twelve recorded an increase.

The result matters less for its size than for where it happened. Over a comparable window, the median Qatar zone moved by −7.0%. The called zones did not rise with the market. They rose against it.

What REOS called in Q1 2026

REOS assesses Qatar zone by zone rather than through a single citywide number. Each zone is scored on registered transactions, market activity, rental yields, development pipeline and geospatial context, then classified as BUY, BUILD, HOLD or WATCH.

BUY marks a zone priced low against the city before momentum has arrived, with a two-to-three-year thesis. BUILD marks a supply-led frontier with a real early pipeline and calm prices, with a nine-to-fifteen-month thesis. In Q1 2026, the Qatar BUY list included Bu Sidra, Al Waab, New Slata, Al Kharaitiyat and Umm Slal Ali. The single BUILD call was Al Khor.

How the calls moved

Each zone is measured from its average registered sale price in Q1 2026 to the same measure in Q2 and Q3 2026. By Q2, the 12 calls had moved by an average of +25.9%, with eight of twelve higher. By Q3, the average reached +40.2%, and ten of twelve were higher.

The BUY calls carried most of the result, averaging +41.1% by Q3. The largest move was in Bu Sidra, where the average price rose from QAR 2,855 to QAR 6,990 per square metre, a change of +144.8%. Al Waab rose by +69.9%, New Slata by +56.0% and Al Kharaitiyat by +54.8%.

The BUILD call took longer. Al Khor was −2.0% by Q2, then finished Q3 at +30.7%, consistent with a signal built around a longer development horizon.

The called zones did not rise with the market. They rose against it.

Where the calls missed

Two BUY calls fell. Gharrafat Al Rayyan moved by −8.1% and Ain Khaled by −36.3% over the same period. REOS reports these misses alongside the gains, because a signal is only useful if its failures are visible.

One of the strongest results also needs care. Lebday rose by +85.7%, but recorded only one to two deals per quarter, so a single transaction can move its average sharply. Excluding Lebday, the remaining 11 calls averaged +36.1%.

How to read these figures

These are changes in average registered sale prices, not realised investment returns. They exclude rental income, transaction costs, financing and taxes, and assume nothing about whether property could be bought at the zone average. BUY is designed around a two-to-three-year thesis, so a two-quarter result is an early assessment, not a verdict.

REOS will continue to measure these calls as new quarters of registered transactions arrive, including the zones that missed.