Real Estate Trading in Qatar Reaches QR1.29 Billion in August

Real estate trading volume in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice reached QR1,290,916,518 in August. Data from the Ministry of Justice’s analytical real estate bulletin showed that 424 property transactions were recorded during the month.

The municipalities of Doha, Al Rayyan and Al Daayen led trading by value during the month, according to the real estate market index. They were followed in transaction volumes by Al Wakrah, Umm Salal, Al Khor and Al Dhakira, Al Shamal, and Al Sheehaniya municipalities.

The August real estate market index showed that the value of transactions in Doha Municipality reached QR435,501,304, while Al Rayyan Municipality recorded QR335,501,759 and Al Daayen Municipality QR175,170,269. Transactions in Al Wakrah Municipality amounted to QR148,559,213, while Umm Salal Municipality recorded QR123,981,137. Trading in Al Khor and Al Dhakira Municipality reached QR60,473,870; Al Shamal Municipality recorded QR8,321,324, and Al Sheehaniya Municipality QR3,407,642.

The indicators also showed that Doha and Al Rayyan municipalities were the most active in terms of traded property area during the month, each accounting for 28 percent. Al Wakrah followed at 16 percent, while Al Daayen accounted for 10 percent, Umm Salal 9 percent, Al Khor and Al Dhakira 7 percent, and Al Shamal and Al Sheehaniya 1 percent each of total traded area.

Trading indicators showed that Doha Municipality had the highest share of properties sold in August, at 30 percent, followed by Al Rayyan at 21 percent and Al Wakrah at 19 percent. Umm Salal and Al Daayen each accounted for 10 percent, Al Khor and Al Dhakira 8 percent, and Al Shamal and Al Sheehaniya 1 percent each of total property transactions. Average prices per square foot in August ranged from QR517 to QR892 in Doha, QR253 to QR414 in Al Wakrah, QR357 to QR466 in Al Rayyan, QR353 to QR468 in Umm Salal, QR362 to QR723 in Al Daayen, QR254 to QR457 in Al Khor and Al Dhakira, QR135 to QR244 in Al Shamal, and QR206 in Al Sheehaniya. Trading volume data showed that the 10 highest-value properties sold in August included four in Doha Municipality, three in Al Rayyan Municipality and one in Umm Salal Municipality.

Regarding mortgages, 103 transactions were recorded in August, with a total value of QR4,007,423,360. Doha Municipality recorded the highest number of mortgage transactions, with 35, equivalent to 34 percent of all mortgaged properties. Al Rayyan followed with 30 transactions, or 29.1 percent; Al Daayen with 14, or 13.6 percent; Umm Salal with 13, or 12.6 percent; Al Wakrah with eight, or 7.8 percent; Al Khor and Al Dhakira with two, or 1.9 percent; and Al Shamal with one, or 1 percent of all mortgaged properties. In terms of mortgage value, Doha Municipality ranked first at QR3,623,856,638, while Al Khor and Al Dhakira recorded the lowest value, at QR2.3 million.

An analysis of mortgage activity comparing the share of mortgaged properties with their monetary value showed that the share of property numbers exceeded the share of mortgage values in all municipalities with mortgage transactions, except Doha, where the share of mortgage transaction values was higher than the share of transactions. In terms of the volume and value of mortgage transactions during the month, Doha Municipality recorded eight of the 10 highest-value mortgaged properties, while Al Rayyan and Al Daayen municipalities recorded one each. The 10 highest-value mortgage transactions represented 89 percent of the total value of all mortgage transactions conducted in August.

In the residential unit segment, 114 transactions were registered in August, with a total value of QR184,461,112. Real estate trading data for August indicate that the sector continues to record steady growth across various investment and commercial fields, sustaining the active trading movement seen in recent months, particularly with the issuance of new laws and decisions relating to real estate brokerage, registration and documentation, ownership and usufruct, as well as laws that attract local and foreign capital. The data also confirm the strength and resilience of Qatar’s economy and the continued growth of the real estate sector as one of its main components.

Source: QNA

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