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Qatar real estate prices dip to lowest level in years, but investor appetite remains strong

Qatar’s Real Estate Price Index hits a four-year low in April 2024

Qatar real estate prices dip to lowest level in years, but investor appetite remains strong

According to data from the Qatar Central Bank, the country’s Real Estate Price Index was at 202.43 in April 2024, the lowest since January 2020. The index had previously reached its lowest point in February 2021 at 202.5. This data indicates a decline in real estate prices in Qatar over the past few years.

The index, which is based on the figures provided by the Ministry of Justice, also posted a decline for four consecutive months, falling from 225.12 in December 2023 to a little over 202 in April.

Given the decline in prices, Qatar-based real estate marketplace hapondo noted that the Qatari real estate market is likely to attract investors who are on the lookout for deals. “For the opportunistic buyer, this means greater leverage in negotiating for value, using strategies such as land banking and buying a portfolio of assets,” mentioned Ahmad Al-Khanji, CEO of Hapondo. It also noted that despite the decline in prices, the appetite for real estate “shows little signs of slowing down.”

In April 2024, real estate trading in Qatar reached $222.86 million (QAR 811,561,323) in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice. The Ministry’s real estate analytical bulletin showed that 201 transactions took place during the month.

The top municipalities in terms of financial value of real estate transactions in April were Doha, Al Rayyan, and Al Wakrah, followed by Al Dhaayen, Umm Salal, Al Khor, Al Dhakira, and Al Shamal. In terms of traded real estate space, Al Wakrah, Doha, and Al Rayyan municipalities recorded the most active, followed by Al Dhaayen, Umm Salal, Al Khor, Al Dhakira, and Al Shamal.