Doha, The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in October 2023 amounted to QR1,329,442,298.
The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that (332) real estate transactions were recorded during the month. Compared to September 2023, the index of sold real estate registered an increase of 11 percent, and the index of traded areas registered an increase of 28 percent.
Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in October 2023, according to the real estate market index, followed by Umm Slal, Al Wakrah, Al Khor, Al Dhakira, Al Shamal, and Al Shahaniya.
The real estate market index for October revealed that the financial value of Doha municipality’s transactions amounted to QR 500,633,884. The financial value of Al Rayyan municipality’s transactions amounted to QR 428,021,059; while the financial value of Al Dhaayen municipality’s transactions amounted to QR 144,837,012. The financial value of Umm Slal municipality’s transactions amounted to QR 114,472,316. Al Wakrah municipality recorded transactions with a value of QR 82, 281,329, while Al Khor and Al Dhakira municipality recorded transactions with a value of QR 43,331,656, Al Shamal municipality recorded trading with a value of QR 14,295,042, and Al Shahaniya municipality recorded transactions with a value of QR 1,570,000.
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 October, with 39 percent for Al Rayyan, followed by Doha municipality with 19 percent, Al Dhaayen with 13 percent. Umm Slal recorded 11 percent, Al Wakrah recorded 9 percent, Al Khor and Al Dhakira recorded 6 percent, Al Shamal 3 percent of the total traded spaces.
In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during October were Al Rayyan (30 percent) followed by Doha (19 percent), Al Dhaayen (18 percent), Umm Salal (12 percent), Al Wakrah (10 percent), Al Khor and Al Dhakira recorded (8 percent), and Al Shamal recorded (3 percent) of the total real estate transactions.
Average per square foot prices for October ranged between (499-1022) in Doha, (228-403) in Al Wakrah, (306-463) in Al Rayyan, (262-475) in Umm Salal, (292-532) in Al Dhaayen, (222-317) in Al Khor and Al Dhakira, (141-243) in Al Shamal, 193 in Al Shahaniya.
The volume of mortgage transactions for the highest 10 properties reached 51 percent of the total value of all mortgage transactions that took place during October.
The trading volume revealed the highest value of (10) properties sold in October, recording (6) properties in Doha, (3) properties in Al Rayyan, and (1) property in Al Wakrah.
As for the volume of mortgage transactions that took place in October 2023, the number of mortgage transactions amounted to 125 transactions, with a total value of QR (1,893,870,371). Al Rayyan recorded the highest number of mortgage transactions with (52) transactions, equivalent to 41.6 percent of the total number of mortgaged properties, Doha followed by with 35 transactions equivalent to 28 percent, Al Dhaayen with 13 transactions equivalent to 10.4 percent, Umm Salal and Al Wakrah with 11 transactions equivalent to 8.8 percent each, and finally Al Khor and Al Dhakira with 3 transactions equivalent to 2.4 percent of the total properties mortgaged during the month.
As for the value of mortgages, Doha Municipality came in the lead with a value of QR 702,528,059 while Al Khor and Al Dhakira recorded the lowest value amounting to QR 14,509,972.
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 Doha and Al Wakrah municipalities, 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 in October, it is found that Al Rayyan Municipality recorded 4 of the top 10 mortgaged properties, while Doha recorded 3 mortgaged properties and Al Wakrah recorded 2 mortgaged properties, whereas Umm Slal recorded 1 mortaged property.
As for trading in the Pearl and Al Qassar Area, the number of transactions registered in October 2023 amounted to 148 deals for residential units included in the buying and selling transactions, with a total value of QR 989,450,351.
Real estate trading data during October 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 affirm the strength of the Qatari economic basis and the constant growth of the real estate sector as a major element of it.
Source: Qatar News Agency