Real Estate Transactions Decline by Over 20% in 2023

The Annual Real Estate Bulletin 2023, recently published by the Ministry of Justice, unveils a notable decrease in real estate trading volume throughout 2023. According to the report, there has been a significant drop of approximately 21.24% in real estate transactions compared to the previous year.

In 2023, the total value of real estate transactions amounted to QR 16,703,093,556, with a recorded count of 3579 transactions. Whereas in 2022, the real estate index achieved a total value of QR 21,204,228,929, encompassing 4184 transactions.

The report highlights the fluctuations in trading activity across different months. In 2023, the month of February saw the highest trading movement, with transactions amounting to QR 2,040,558,163. This stands in contrast to 2022, where December recorded the highest trading movement, totaling QR 3,058,032,191.

The monthly distribution of real estate transactions also reveals variations between the two years. In 2023, February emerged as the month with the highest trading activity, recording 382 transactions, followed by March with 340 transactions and May with 337 transactions. Conversely, in 2022, June led with 517 transactions, followed by September with 509 transactions and February with 445 transactions.

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