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Real estate trading in Qatar surges, Doha municipality leads in transactions

Doha, Al Rayyan, and Al Dhaayen led in transactions and traded spaces, with Al Rayyan dominating mortgage transactions

Real estate trading in Qatar surges, Doha municipality leads in transactions

The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in January amounted to QR 1,919,640,254.

The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that (362) real estate transactions were recorded during the month. Compared to December 2023, the index of sold real estate registered an increase of 10 per cent, and the index of traded areas registered an increase of 21 per cent.

Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in January, according to the real estate market index, followed by Al Wakrah, Umm Salal, Al Shamal, Al Khor and Al Dhakira.

The real estate market index for January revealed that the financial value of Doha municipality’s transactions amounted to QR 1,182,738,449. The financial value of Al Rayyan municipality’s transactions amounted to QR 380,869,371; while the financial value of Al Dhaayen municipality’s transactions amounted to QR 135,673,354. The financial value of Al Wakrah municipality’s transactions amounted to QR 104,673,354. Umm Salal municipality recorded transactions with a value of QR 74,294,768, while Al Shamal municipality recorded trading with a value of QR 24,555,000 and Al Khor and Al Dhakira municipality recorded transactions with a value of QR 16,667,600.

In terms of the traded space index, indicators reveal that Doha, Al Rayyan, and Al Wakrah municipalities recorded the most active municipalities in terms of traded real estate spaces during January, with 36 per cent for Doha, followed by Al Rayyan municipality with 30 per cent, and Al Wakrah with 12 per cent. Al Dhaayen recorded 10 per cent, Umm Salal recorded 6 per cent, Al Shamal 4 per cent, and Al Khor and Al Dhakira recorded 2 per cent of the total traded spaces.

In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during January were Doha (33 per cent) followed by Al Rayyan (22 per cent), Al Dhaayen (15 per cent), Al Wakrah (13 per cent), Umm Salal (8 per cent), Al Shamal (6 per cent), and Al Khor and Al Dhakira (3 per cent) of the total real estate transactions.

Average per square foot prices for January ranged between (546-913) in Doha, (228-530) in Al Wakrah, (322-536) in Al Rayyan, (277-407) in Umm Salal, (267-476) in Al Dhaayen, (221-347) in Al Khor and Al Dhakira, (158-280) in Al Shamal.

The trading volume revealed the highest value of (10) properties sold in January, recording (9) properties in Doha and (1) property in Al Rayyan.

As for the volume of mortgage transactions in January, the number of mortgage transactions amounted to 122, with a total value of QR 3,646,432,760. Al Rayyan recorded the highest number of mortgage transactions with (37) transactions, equivalent to 30.3 percent of the total number of mortgaged properties, Doha followed with 35 transactions equivalent to 28.7 percent, Umm Salal with (26) transactions equivalent to 21.3 percent, Al Wakrah with (16) transactions equivalent to 13.1 percent, Al Dhaayen with (6) transactions equivalent to 12.9 percent, and both Al Khor and Al Dhakira and Al Shamal with (1) transactions each equivalent to 0.8 percent of the total properties mortgaged during the month.

As for the value of mortgages, Al Rayyan Municipality came in the lead with a value of QR 2,664,345,287 while Al Khor and Al Dhakira recorded the lowest value amounting to QR 1,600,000.

The residential unit trading movement during January recorded a total of (73) transactions with a total value of QR 158,720,127.