Excess supply in a market - rents fall in Doha’s property market

In Doha despite doubit digit economic growth rates, rents for properties are falling steeply because of too much new building leading to excess capacity - too much supply relative to the level of demand. Part of the problem has been a reversal of migrant labour as previous investments in the oil industry came to an end. Here is a classic example of excess supply in a market leading to a fall in market prices.