Last week, Qatar's Ministry of Justice's Real Estate Analytical Bulletin reported real estate trading for sale contracts in Doha, Qatar during September 2023 reached QR1,037,617,682. This marked a 1% increase from the previous month. September saw a total of 300 real estate transactions.
MOST ACTIVE MUNICIPALITIES BASED ON VALUE
The municipalities of Doha, Al Rayyan, and Al Dhaayen stood out in financial terms, based on the real estate market index. Al Rayyan recorded the highest transaction value at QR 341,793,633, followed by Doha municipality with QR 328,446,892, and Al Dhaayen municipality with QR 154,912,596.
REAL ESTATE ACTIVITY OF QATAR’S MUNICIPALITIES
Examining the trading volume for real estate, Al Rayyan led with 39%, followed by Doha with 19%, and Al Dhaayen with 15%. Concerning the number of real estate transactions, Doha saw 25%, with Al Rayyan at 24%, and Al Dhaayen at 20%.
PRICE RANGE ACROSS MUNICIPALITIES
The average per square foot prices for September varied across the municipalities. In Doha, prices ranged from QR 372 to 871. Al Wakrah had prices between QR 260 and 438, while Al Rayyan ranged from QR 337 to 390. Umm Salal's prices spanned QR 432 to 257, Al Dhaayen from QR 227 to 469, and Al Khor and Al Dhakira between QR 228 and 413. Al Shamal featured prices between QR 151 and 200, and Al Shahaniya's prices stood at QR 130.
MORTGAGE TRANSACTIONS
Doha municipality saw the highest number of mortgage transactions at 35, followed by Al Rayyan with 32, and Al Dhaayen with 18. The total value of mortgage transactions reached QR 2,694,623,782, with Doha leading in terms of value at QR 1,902,751,000.
RATIO OF MORTGAGED PROPERTIES
It's important to note that, except for Doha municipality, the ratio of the number of mortgaged properties was generally higher than the ratio of their financial value across all municipalities. In Doha, the amount of mortgage transactions achieved a higher rate compared to the number of mortgage transactions.
POSITIVE TREND IN QATAR’S REAL ESTATE MARKET
In summary, Qatar’s real estate market saw growth in both trading and mortgage transactions during September 2023. This trend suggests a positive outlook for the sector.
In-depth discussion of Qatar's real estate sectors and trends will be underway this week at Cityscape Qatar.
