Qatar’s real estate trading soars to $265.21 million in February – Economy Middle East

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Qatar’s real estate trading reached in February a volume of QAR965.51 million ($265.21 million), as recorded by the Real Estate Registration Department at the country’s Ministry of Justice. The Ministry’s real estate analytical bulletin indicated that a total of 268 real estate transactions were registered during that month.

Based on the real estate market index, the municipalities of Doha, Al Rayyan, and Al Dhaayen were the most active in terms of financial value in March. Following them were Al Wakrah, Umm Salal, Al Khor and Al Dhakira, Al Shamal, and Al Shahaniya.

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According to the February real estate market index, the financial value of transactions in Doha municipality amounted to QAR324,460,167. Al Rayyan municipality recorded transactions valued at QAR250,180,378, while Al Dhaayen municipality’s transactions amounted to QAR150,780,434. Al Wakrah municipality had transactions worth QAR136,363,662. Umm Salal municipality recorded transactions valued at QAR56,276,334, while Al Khor and Al Dhakira municipality had transactions worth QAR27,660,332. Al Shamal municipality’s transactions amounted to QAR14,263,000, and Al Shahaniya’s transactions amounted to QAR5,600,000.

Traded space index, sold properties

In terms of the traded space index, Al Rayyan, Al Wakrah, and Doha municipalities were the most active in terms of traded real estate spaces in March. Al Rayyan accounted for 26 percent of the total, followed by Al Wakrah with 24 percent, and Doha with 17 percent. Al Dhaayen recorded 16 percent, Umm Salal recorded 7 percent, Al Shamal 4 percent, Al Khor and Al Dhakira recorded 4 percent, and Al Shahaniya recorded 1 percent.

Regarding the index of the number of real estate transactions (sold properties), Al Rayyan municipality was the most active in March, comprising 23 percent of the total transactions. Doha followed with 22 percent, Al Dhaayen with 21 percent, Al Wakrah with 13 percent, Umm Salal with 10 percent, Al Khor and Al Dhakira with 7 percent, Al Shamal with 4 percent, and Al Shahaniya with 1 percent.

Average price per square foot

In March, the average price per square foot varied across municipalities: Doha ranged between QAR492 and QAR755, Al Wakrah between QAR242 and QAR329, Al Rayyan between QAR317 and QAR497, Umm Salal between QAR248 and QAR424, Al Dhaayen between QAR296 and QAR518, Al Khor and Al Dhakira between QAR214 and QAR293, Al Shamal between QAR129 and QAR191, and Al Shahaniya was priced at QAR128.

The trading volume indicated that the highest number of properties sold in March was 10, with 4 in Doha, 3 in Al Wakrah, 2 in Al Rayyan, and 1 in Al Dhaayen.

Mortgage transactions

As for mortgage transactions in March, there were a total of 220 transactions with a value of QAR5,868,866,899. Al Wakrah had the highest number of mortgage transactions, accounting for 119 transactions (54.1 percent of the total). Al Rayyan followed with 46 transactions (20.9 percent), Doha with 36 transactions (16.4 percent), Umm Salal with 5 transactions (2.3 percent), and Al Khor and Al Dhakira with 4 transactions each (1.8 percent).

In terms of mortgage value, Doha municipality had the highest value at QAR2,696,859,446, while Al Khor and Al Dhakira recorded the lowest value at QAR8,232,862.

During March, there were 38 transactions in the residential unit trading movement, with a total value of QAR84,101,832.

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