The real estate sector in Qatar witnessed robust activity in July 2024, as evidenced by the significant trading volume and mortgage transactions registered with the Ministry of Justice‘s Real Estate Registration Department.
According to the data from the real estate analytical bulletin, the total value of real estate sale contracts registered in July 2024 reached QAR1.15 billion ($314.47 million). This represents a substantial increase, with the number of real estate transactions recording a 26 percent rise compared to the previous month.
Most active municipalities
The most active municipalities in terms of financial value were Doha, Al Rayyan, and Al Wakrah, followed by Al Dhaayen, Umm Salal, Al Khor and Al Dhakira, and Al Shamal.
The financial value of transactions in Doha municipality amounted to QAR501.4 million, while Al Rayyan and Al Dhaayen recorded QAR284.9 million and QAR95.2 million, respectively. Umm Salal, Al Khor and Al Dhakira, and Al Shamal registered QAR80.3 million, QAR23.6 million, and QAR9.6 million, respectively.
Traded real estate spaces
In terms of traded space, Doha, Al Rayyan, and Al Wakrah were the most active municipalities, accounting for 30 percent, 26 percent, and 16 percent of the total traded real estate spaces, respectively. Al Dhaayen, Umm Salal, Al Khor and Al Dhakira, and Al Shamal followed with 14 percent, 9 percent, 3 percent, and 2 percent of the total traded spaces, respectively.
The index of the number of real estate transactions (sold properties) further revealed that Doha (29 percent), Al Rayyan (24 percent), and Al Wakrah (19 percent) were the most active municipalities in July. Al Dhaayen, Umm Salal, Al Khor and Al Dhakira, and Al Shamal registered 13 percent, 7 percent, 5 percent, and 3 percent of the total real estate transactions, respectively.
Average per square foot prices
Furthermore, the average per square foot prices in July ranged from QAR384-834 in Doha, QAR258-417 in Al Wakrah, QAR 335-455 in Al Rayyan, QR 258-483 in Umm Salal, QAR271-456 in Al Dhaayen, QAR233-338 in Al Khor and Al Dhakira, and QAR141-297 in Al Shamal.
Read more: Qatar reports $711.58 million budget surplus on $16.39 billion total revenues for Q2 2024
Highest value properties sold
Moreover, the trading volume revealed the highest value of 10 properties sold in July, with Doha recording 5 properties, Al Rayyan 3 properties, and Umm Salal and Al Dhaayen 1 property each.
Mortgage transactions
Regarding mortgage transactions, the total number of transactions in July amounted to 193, with a total value of QAR6.5 billion. Additionally, Doha had the highest number of mortgage transactions with 122, followed by Al Rayyan with 37, Umm Salal with 13, Al Wakrah with 9, Al Dhaayen with 8, and Al Khor and Al Dhakira with 4 transactions.
The value of mortgages was led by Doha at QAE5.6 billion, while Al Khor and Al Dhakira recorded the lowest value at QAR9.6 million.
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