Real estate trading in February recorded QR 965.5 million in sale contracts registered with Qatar’s Real Estate Registration Department
The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in February amounted to QR 965,512,307. The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 268 real estate transactions were recorded during the month.
According to the real estate market index, Doha, Al Rayyan, and Al Dhaayen municipalities had the most active transactions in terms of financial value in March, followed by Al Wakrah, Umm Salal, Al Khor, Al Dhakira, Al Shamal, and Al Shahaniya.
In February, the real estate market index indicated significant transaction values across various municipalities in Qatar. Doha municipality’s transactions amounted to QR 324.5 million, Al Rayyan municipality recorded QR 250.2 million, and Al Dhaayen municipality reached QR 150.8 million. Al Wakrah municipality’s transactions totalled QR 136.4 million, Umm Salal municipality recorded QR 56.3 million, and Al Khor and Al Dhakira municipality reached QR 27.7 million. Al Shamal municipality recorded QR 14.3 million in transactions, while Al Shahaniya’s transactions amounted to QR 5.6 million.
The traded space index for March highlights Al Rayyan, Al Wakrah, and Doha municipalities as the most active in real estate space transactions. Al Rayyan led with 26%, followed by Al Wakrah at 24%, and Doha at 17%. Al Dhaayen recorded 16%, Umm Salal 7%, Al Shamal 4%, and both Al Khor and Al Dhakira at 4%. Al Shahaniya accounted for 1% of the total traded spaces.
In March, real estate transaction indicators showed that Al Rayyan was the most active municipality with 23% of transactions, followed closely by Doha at 22% and Al Dhaayen at 21%. Al Wakrah accounted for 13% of transactions, Umm Salal at 10%, Al Khor and Al Dhakira for 7%, Al Shamal at 4%, and Al Shahaniya for 1%. Average prices per square foot in March ranged from QR 492 to 755 in Doha, QR 242 to 329 in Al Wakrah, QR 317 to 497 in Al Rayyan, QR 248 to 424 in Umm Salal, QR 296 to 518 in Al Dhaayen, QR 214 to 293 in Al Khor and Al Dhakira, QR 129 to 191 in Al Shamal, and QR 128 in Al Shahaniya.
The trading volume revealed the highest value of 10 properties sold in March, recording four properties in Doha, 3 in Al Wakrah, 2 in Al Rayyan, and one in Al Dhaayen. Last month, mortgage transactions totalled 220 with a value of QR 5,868,866,899. Al Wakrah had the highest number of transactions at 119 (54.1% of the total), followed by Al Rayyan with 46 transactions (20.9%), Doha with 36 transactions (16.4%), Umm Salal with five transactions (2.3%), and Al Khor and Al Dhakira with four transactions each (1.8% each) of the total mortgaged properties during the month.
Regarding the value of mortgages, the municipality of Doha came in first with QR 2,696,859,446, while Al Khor and Al Dhakira recorded the lowest value of QR 8,232,862. The residential unit trading movement during March reached (38) transactions with a total value of QR 84,101,832. (QNA)