The volume of real estate trading in sale contracts registered with Qatar’s Real Estate Registration Department at the Ministry of Justice amounted in May 2024 to QAR1,260,555,145 ($346.41 million)
The real estate analytical bulletin issued by the Ministry of Justice revealed that 322 real estate transactions were recorded during the month. The number of properties sold index recorded a 60 percent increase compared to April 2024, while the value of real estate transactions index increased by 55 percent and the index of traded areas increased by 58 percent.
Most active municipalities
Doha, Al Rayyan, and Al Wakrah municipalities were the most active in terms of financial value of transactions, followed by Al Dhaayen, Umm Salal, Al Khor and Al Dhakira, and Al Shamal.
The financial value of transactions in Doha was QAR541,272,926, in Al Rayyan it was QAR295,349,835, and in Al Wakrah it was QAR164,512,981. Al Dhaayen recorded QAR127,375,075 in transactions, Umm Salal had QAR86,202,539 million, Al Khor and Al Dhakira had QAR31,237,539 million, and Al Shamal had QAR14,604,250.
Traded space
In terms of traded space, Doha recorded 34 percent, Al Rayyan 22 percent, and Al Wakrah 20 percent, followed by Al Dhaayen at 11 percent, Umm Salal at 6 percent, Al Khor and Al Dhakira at 4 percent, and Al Shamal at 3 percent.
Read more: Qatar’s real estate market sees $222.86 million in transactions during April 2024
Number of transactions
Furthermore, for the number of transactions (sold properties), Doha led with 31 percent, followed by Al Rayyan at 24 percent, Al Dhaayen and Al Wakrah at 14 percent each, Umm Salal at 9 percent, Al Khor and Al Dhakira at 5 percent, and Al Shamal at 3 percent.
Average per square foot prices
Average per square foot prices ranged from QAR325-734 in Doha, QAR220-498 in Al Wakrah, QAR379-419 in Al Rayyan, QAR288-512 in Umm Salal, QAR300-583 in Al Dhaayen, QAR221-293 in Al Khor and Al Dhakira, and QAR150-292 in Al Shamal. Moreover, the top 10 most valuable property sales were split between Doha (4), Al Rayyan (4), and Al Wakrah (2).
Mortgage transactions
In May, there were 137 mortgage transactions totaling QAR6,569,187,356. Doha had the most at 59 transactions (43.1 percent), followed by Al Rayyan at 42 (30.7 percent), Umm Salal at 15 (10.9 percent), Al Wakrah and Al Dhaayen at 8 each (5.8 percent), Al Khor and Al Dhakira at 3 (2.2 percent), and Al Shamal at 2 (1.5 percent).
By value, Doha led with QAR5,483,228,370, while Al Khor and Al Dhakira had the lowest at QAR3,238,000.
Additionally, the residential unit trading movement reached 69 transactions with a total value of QAR135,417,078.
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