During April 2023, the volume of real estate trading in sales contracts registered with Qatar’s Real Estate Registration Department at the Ministry of Justice amounted to QAR 947,280,012 (roughly $260 million) through 157 transactions.
The municipalities of Al Thumama, Al Duhail, and Al Rayyan topped the list of the most active real estate trading in terms of value during April 2023, according to the Real Estate Market Index. They were followed by municipalities such as Umm Salal, Al Wakrah, Al Khor and Al Dakhira, Al Shamal, and Al Shahaniya in terms of transaction volumes.
Read more: Real estate key to Qatar’s economy following the World Cup
The findings revealed that the financial value of Al Thumama municipality’s transactions amounted to QAR 395,105,441, while the financial value of Al Duhail’s transactions totaled QAR 293,634,148. Meanwhile, the financial value of Al Rayyan’s transactions reached QAR 157,446,724. Umm Salal municipality’s financial value of transactions amounted to QAR 48,903,242, while Al Wakrah’s transactions were worth QAR 21,755,083. Al Khor and Al Dakhira municipality’s transactions amounted to QAR 21,702,100, while Al Shamal municipality’s transactions amounted to QAR 7 million, and Al Shahaniya municipality’s transactions amounted to QAR 1,733,274.
The trading indexes showed that Al Duhail municipality was the most active during April, accounting for 30% of the properties sold, followed by Al Rayyan at 28%, and Al Thumama at 16%. Umm Salal municipality’s trading accounted for 11%, while Al Wakrah accounted for 7%. Al Khor and Al Dakhira municipality’s trading accounted for 6%, while Al Shamal and Al Shahaniya municipality’s trading accounted for 1% of each of the total real estate deals.
The report showed there was a total of 43 mortgage transactions with a combined value of QAR 2,233,477,938 in April.
In terms of the value of mortgages, Al Wakrah municipality came first with a value of QAR 1,331,058,537, while Al Khor and Al Dakhira municipalities had the lowest value at QAR 2,822,306.
Real estate trading data during April 2023 shows that the real estate sector continues to grow strongly in various investment and commercial sectors. The sector has seen active trading activity in recent times, especially with the issuance of new laws and regulations related to real estate brokerage, documentation, ownership, and usufruct, as well as laws that attract local and foreign capital.
Click here for more news on real estate.
