Volume of Real Estate Trading Reaches QR 947 Million Last April

 

 

Doha, May 15 (QNA) - The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice during April 2023 amounted to QR 947,280,012. 

The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 157 real estate transactions were recorded during the month.

Al Daayen, Doha, and Al Rayyan Municipalities topped the most active transactions in terms of financial value during April 2023, according to the real estate market index, followed by Umm Slal, Al Wakrah, Al Khor & Dhakira, Al Shamal and Al Sheehaniya Municipalities.

The real estate market index for the month of April revealed that the financial value of Al Daayen Municipality's transactions amounted to QR is QR 395,105,441. The financial value of Doha Municipality's transactions amounted to QR is QR 293,634,148 million. 

The financial value of Al Rayyan Municipality's transactions amounted to QR 157,446,724, the financial value of Umm Slal Municipality's transactions amounted to QR 48,903,242 million. Al Wakrah Municipality recorded transactions with a value of QR 21,755,083, and Al Khor & Dhakira Municipality recorded transactions with a value of QR 21,702,100. Al Shamal Municipality recorded trading with a value of QR 7,000,000 million.

In terms of the traded space index, indicators reveal that Al Rayyan, Doha, and Al Dhaayen Municipalities recorded the most active municipalities in terms of traded real estate spaces during the month of February, with 30 percent for Al Rayyan Municipality, followed by Doha Municipality with 25 percent, Al Dhaayen with 21 percent, while Umm Slal recorded 11percent, Al Shamal recorded six percent, Al Wakrah recorded five percent, Al Khor & Dhakira Municipalities recorded five percent, and Al Shamal recorded three percent of the total traded spaces each.

In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during the month of April were Doha Municipality (30 percent), followed by Al Rayyan Municipality (28 percent), Al Dhaayen Municipality (16 percent), and Umm Slal Municipality (11 percent), Al Wakrah Municipality (7 percent), while Al Khor & Dhakira Municipality recorded (6 percent) and Al Shamal and Al Sheehaniya Municipalities recorded (1 percent) each of the total real estate transactions.

Average per square foot prices for the month of April ranged between (487-864) in Doha, (274-331) in Al Wakrah, (335-403) in Al Rayyan, (252-473) in Umm Slal, (297-716) in Al Dhaayen, (217-700) in Al Khor & Dhakira, (142) in Al Shamal, and (212) in Al Sheehaniya.

The trading volume revealed that the highest value of (10) properties sold was recorded for the month of April, recording 6 properties in Doha Municipality, and two properties in Al Rayyan and Al Dhaayen Municipalities.

As for the volume of mortgage transactions that took place during the month of April 2023, the number of mortgage transactions amounted to 43 transactions, with a total value of QR 2,233,477,938.

Doha and Municipality recorded the highest number of mortgage transactions with 17 transactions, equivalent to 39.5 percent of the total number of mortgaged properties, followed by Al Rayyan Municipality with nine transactions, equivalent to 20.9 percent of the total number of mortgaged properties, and in Al Dhaayen Municipality with eight percent, equivalent to 18.6 percent of the total number of mortgaged properties

Al Wakrah Municipality recorded 8 transactions, equivalent to 14.2 percent of the total mortgaged properties, then Al Khor & Dhakira Municipality recorded two transactions equivalent to 4.7 percent, and Al Shamal Municipality with one transactions, equivalent to 2.3 percent of the total mortgaged properties during the month.

As for the value of mortgages, Al Wakrah Municipality came in the lead with a value of QR 1,331,058,537, while Al Khor & Dhakira Municipality recorded the lowest value amounting to QR 2,822,306.

Looking at the indicator of the movement of mortgage transactions by studying the ratio of the number of mortgaged properties to the ratio of their financial value, it is found that the ratio of the number of mortgaged properties is greater than the ratio of the amounts of mortgage transactions in all municipalities that witnessed mortgage transactions, except for Al Wakrah Municipality, where it is found that the amounts of mortgage transactions achieved a higher rate compared to the number of mortgage transactions.

Tracking the movement and volume of mortgage transactions that took place during the month of April, it is found that Doha Municipality recorded 5 of the top 10 mortgaged properties, while Al Rayyan recorded 3 mortgaged properties. Al Wakrah and Al Dhaayen recorded one mortgaged property each. The volume of mortgage transactions for the highest 10 properties reached 96 percent of the total value of all mortgage transactions that took place during the month of April.

As for trading in the Pearl and Al Qassar Area, the number of transactions registered during April 2023 reached 59 deals for residential units included in the buying and selling transactions, with a total value of QR 114,400,694.

Real estate trading data during the month of April 2023 reveals that the real estate sector continues to grow steadily and robustly in all investment and commercial fields to continue the movement of active trading in the sector during the recent period, especially with the issuance of new laws and decisions on real estate brokerage, real estate registration, ownership, and usufruct, along with laws that attract local and foreign capital. 

These data confirm the strength and solidity of the Qatari economy and the continued growth of the real estate sector as one of its main components. (QNA)