The Real Estate Registration Department at the Ministry of Justice in Qatar recorded in February QR1.39 billion ($381.78 million) in volume of real estate trading through sale contracts. According to the Ministry’s real estate analytical bulletin, there were 350 real estate transactions during the month. Compared to January 2024, the number of properties sold decreased by 3 percent, the real estate transactions value declined by 27 percent, and the traded area decreased by 18 percent.
Read more: Market corrections seen in Qatar real estate prices
The municipalities of Doha, Al Rayyan, and Al Dhaayen were the most active in terms of financial value in February, according to the real estate market index. They were followed by Al Wakrah, Umm Salal, Al Shamal, Al Khor, and Al Dhakira.
The financial value of transactions in Doha municipality amounted to QR514,512 million, in Al Rayyan municipality it was QR335,542 million, and in Al Dhaayen municipality it was QR254,545 million. Al Wakrah municipality recorded transactions with a value of QR140,091 million, Umm Salal had transactions worth QR 119,492 million, Al Shamal recorded trading with a value of QR17,021 million, and Al Khor and Al Dhakira had transactions worth QR10,754 million.
Traded space
In terms of traded space, Al Rayyan, Al Dhaayen, and Al Wakrah municipalities were the most active in February, accounting for 26 percent, 23 percent, and 18 percent of the total traded real estate spaces, respectively. Doha recorded 17 percent, Umm Salal recorded 11 percent, Al Shamal 3 percent, and Al Khor and Al Dhakira recorded 2 percent.
Transaction activity
Regarding the number of real estate transactions, Al Rayyan was the most active municipality with 25 percent of the total, followed by Doha with 23 percent, Al Wakrah with 20 percent, Al Dhaayen with 17 percent, and Umm Salal with 9 percent. Al Shamal, Al Khor, and Al Dhakira each accounted for 3 percent of the total transactions.
Average per square foot prices in February varied across municipalities, ranging from (469 – 974) in Doha, (212 – 541) in Al Wakrah, (368 – 442) in Al Rayyan, (246 – 570) in Umm Salal, (290 – 534) in Al Dhaayen, (203 – 303) in Al Khor and Al Dhakira, to (132 – 300) in Al Shamal.
The trading volume in February included the sale of 10 properties, with 5 properties in Doha, 2 each in Al Rayyan and Al Dhaayen, and 1 in Umm Salal.
Mortgage transactions
In terms of mortgage transactions, there were 91 transactions in February, with a total value of QR3,286,600,373. Doha had the highest number of mortgage transactions with 38, followed by Al Rayyan with 28, and Al Dhaayen with 12. Umm Salal had 5 transactions, Al Wakrah had 4, and both Al Khor and Al Dhakira had 3 each. Al Shamal recorded 1 transaction. Doha also had the highest value of mortgages with QR2,513,575,148, while Al Shamal had the lowest value of QR1,200,000.
The residential unit trading movement in February increased compared to the previous month, with 103 transactions totaling QR230,617,811.
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