Qatar’s real estate sector recorded sale contracts worth QAR1,043,726,242 ($284.6 million) last month, according to the latest data from the Real Estate Registration Department at the Ministry of Justice. The data also revealed that 283 real estate transactions were recorded during the month, with the number of properties sold recording an increase of 12 percent month-on-month.
The Doha, Al Rayyan and Al Dhaayen municipalities topped the list with the most active transactions in terms of financial value in December, according to the real estate market index. Following closely came Umm Salal, Al Wakrah, Al Khor, Al Dhakira and Al Shamal.
Doha reports $103.19 million in transactions
Qatar’s real estate market index for December 2024 revealed that the financial value of Doha municipality’s transactions amounted to QAR378.4 million ($103.19 million). The value of transactions amounted to QAR278.5 million in Al Rayyan, QAR131.5 million in Al Dhaayen, QAR110.3 million in Umm Salal and QAR105.5 million in Al Wakrah.
Al Khor and Al Dhakira municipalities recorded transactions worth QAR27.2 million while transactions in Al Shamal and Al Shahaniyah municipalities reached QAR15.2 million and QAR12.04 million, respectively.
Al Rayyan tops traded space volume
The traded space index revealed that Al Rayyan, Doha and Al Wakrah municipalities were the most active municipalities in Qatar in terms of traded real estate spaces during December 2024, with 30 percent for Al Rayyan municipality, followed by Doha municipality with 24 percent and Al Wakrah with 15 percent.
Um Salal municipality recorded 13 percent, Al Khor and Al Dhakira saw five percent, while Al Shamal municipality recorded three percent of the total traded spaces.
Meanwhile, Doha recorded the highest share of property sales last month at 35 percent followed by Al Rayyan with 21 percent, then Al Wakrah with 14 percent. Umm Salal’s share reached 13 percent, Al Dhaayen recorded 10 percent of sales, Al Khor and Al Dhakira came in with 6 percent, and Al Shamal with 2 percent of the total real estate transactions.
Average prices in Doha decline
Last month, the average per square foot price in Doha fell to QAR366-QAR735 from QAR367-QAR922 in November. Prices averaged QAR240-QAR374 in Al Wakrah, QAR336-QAR461 in Al Rayyan, QAR248-QAR387 in Umm Salal, QAR304-QAR582 in Al Dhaayen, QAR227-QAR266 in Al Khor and Al Dhakira, and QAR144-QAR204 in Al Shamal.
The data also revealed that four of the largest 10 property sales in December occurred in Al Rayyan, two in each of Doha and Al Dhaayen, and one property sale in each of Umm Salal and Al Wakrah.
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Mortgage transactions hit $1.01 billion
Qatar’s real estate sector saw 99 mortgage transactions worth QAR3.706 billion ($1.01 billion) in December. Doha recorded the highest number of mortgage transactions with 29 transactions, equivalent to 29.3 percent of the total number of mortgaged properties.
Following closely came Al Rayyan with 28 transactions, equivalent to 28.3 percent of the total, and Al Dhaayen with 18 transactions equivalent to 18.2 percent of the total. Al Wakrah saw 11 mortgage transactions, equivalent to 11.1 percent, Umm Salal recorded 10 transactions, equivalent to 10.1 percent, followed by Al Khor and Al Dhakira with 3 transactions equivalent to 3 percent.
The municipality of Al Rayyan recorded the highest value of mortgages last month at QAR2.07 billion while Al Khor and Al Dhakira recorded the lowest values at QAR5.17 million.
