Qatar’s real estate market ended 2024 with a strong performance in key segments. The market witnessed 330 mortgage transactions across all asset classes of ready properties, a quarterly increase of 32 percent and an annual increase of 26 percent. The total value of mortgage transactions reached QAR25.2 billion ($6.91 billion) during the fourth quarter of 2024, reflecting a notable annual surge of 172.3 percent.
The latest report by Valustrat revealed that Doha recorded 95 deals worth QAR16.4 billion, the highest transaction value in 5 years, while Al Rayyan saw 96 transactions totaling QAR5.4 billion.
“The fourth quarter outperformed previous periods, particularly in the residential sector, while other segments remained stable or saw corrections. The ValuStrat Price Index remained steady throughout the year at 96.6 points. With Q1 2021 as the 100-point benchmark, the apartment index rose 1.3 percent QoQ while holding firm YoY at 98.9 points. The villa index stood at 96 points, unchanged both quarterly and annually,” stated Anum Hasan, Head of Research, Qatar.
Apartment prices rise 1.3 percent
Apartment capital values increased by 1.3 percent quarter-on-quarter, reaching QAR10,430 per square meter, but were unchanged from the previous year. In The Pearl Island, sale rates reached QAR10,650 per square meter, measuring a positive 2.1 percent increase quarterly. Meanwhile, values held steady in Lusail at QAR10,160 per square meter and in West Bay Lagoon at QAR9,600 per square meter.
Villa prices across Qatar’s real estate market remained stable both quarterly and annually at QAR5,500 per square meter, with a modest 1.5 percent decline over two years. Values in West Bay Lagoon and Al Dafna fell by 3.5 percent and 5 percent QoQ, respectively. Meanwhile, Ain Khaled saw a 2.2 percent increase. Prices across the other 10 locations within the index remained unchanged from the previous quarter.
The report also revealed that the price-to-rent ratio for The Pearl Island and West Bay Lagoons edged down, reflecting marginal improvement in rents on a quarterly basis, while remaining steady at 19 years. Residential gross yield was stable at 5.9 percent, with apartments recording 8.4 percent and villas at 4.6 percent.
Villa sales volume grows 33.7 percent
In Q4 of 2024, villa sales volume in Qatar’s real estate sector saw a substantial quarterly rise of 33.7 percent, while maintaining stability on an annual basis. The median ticket size for housing units was QAR2.6 million, a decline of 1.9 percent QoQ and 3.7 percent YoY.
The highest transaction activity was recorded in Doha and Al Rayyan. The Pearl Island and Al Qassar saw sales volume rise by 34.3 percent QoQ, leading to a 37.2 percent increase in value.
Apartment and villa rents stabilize
The median monthly rent for residential apartments held steady quarterly but fell 3.7 percent annually. Apartment monthly lease values stabilized at QAR6,000 since last quarter, reflecting a 6 percent annual drop. For one-bedroom apartments, the median monthly lease rate was QAR5,250, for two-bedrooms QAR6,250, and for a three-bedroom QAR8,000
Rents in The Pearl and Lusail rose by 1 percent, driven by higher rates for one and two-bedroom units, while Al Muraikh, Al Mansoura, Al Wakrah, and Fereej Bin Mahmoud saw increases of up to 5 percent.
The report also revealed that over 15,000 apartment rental contracts were signed in Q4, marking a 12 percent quarterly increase while remaining stable yearly. With 95 percent of contracts being new agreements, this suggests a high level of tenant mobility within the country. Al Wukair, Al Mashaf and Al Thumama cumulatively were the top contracted areas with 4,529 leases, measuring an increase of 27.5 percent since last quarter.
For villas, the median rent remained stable both quarterly and annually. Rents in Al Muraikh and Al Gharrafa fell by up to 5 percent quarterly, while other key areas remained unchanged. The median monthly rent for a three-bedroom villa was QAR11,500, for a four-bedroom QAR12,250, and for a five-bedroom QAR13,750.
“Overall, the year closed with a measured resilience, supported by strength in residential, tourism, and hospitality, while other sectors either held steady or saw minor adjustments. This sets a controlled yet optimistic tone for the year ahead,” added Hasan.
Read: RAK Properties revenues grow 40 percent to $381 million in 2024
Real estate trading volume hits $329.2 million
The volume of real estate trading in sale contracts registered with Qatar’s Real Estate Registration Department at the Ministry of Justice in February 2025 amounted to $329.2 million, down from $419.5 million in January. Data from the real estate analytical bulletin by the Ministry of Justice revealed that 365 real estate transactions were recorded during the month compared to 382 transactions in January 2025.
The municipalities of Doha, Al Rayyan, and Al Dhaayen topped the list for the most active transactions in terms of financial value, according to the real estate market index, followed by Al Wakrah, Umm Salal, Al Khor, Al Dhakira, and Al Shamal. Average per square foot prices in February ranged between QAR394-767 in Doha, QAR259-493 in Al Wakrah, QAR319-448 in Al Rayyan, QAR284-496 in Umm Salal, QAR327-514 in Al Dhaayen, and QAR321-323 in Al Khor and Al Dhakira.
