May 07 2013

Qatari real estate transactions down

Tuesday, 07 May 2013

DOHA: The value of total real estate transactions during last week of April (April 21 to 25) amounted to QR807.2m, down 5.5 percent compared to QR854.4m the previous week, according to Ezdan Holding Group 's weekly report.

The main reason for the decline was caused due to the absence of grand deals.

The report forecast that the real estate transactions will continue its recovery during the coming weeks, especially in the sector of plots with the existing trend of real estate investors and developers coming up with more new projects.

The weekly Bulletin issued by the Real Estate Registration Department in the Ministry of Justice yesterday said the value of daily rate of transactions of real estate was about QR161.4m compared to QR171m in the previous week. Doha Municipality ranked first in terms of trading value, reaching QR305.6m compared to QR523.7m in the previous week with a decline of 41.6 percent through the implementation of 51 deals compared to 52 deals in the previous week.

Doha Municipality acquired 37.9 percent of the total transactions of the week.

The value of the top deal in Doha Municipality amounted to QR70.5m as a result of the selling of houses in Fereej bin Mahoud with an area of 4,037 square meters.

A plot in Rawdat Al Khail with an area of 1,160 square meters was sold at QR17.5m, while a house with an area of 869 square meters in Najma area was sold at QR13.2m.

The sale of plots acquired 30 percent of the total transactions in the Doha Municipality to QR91.8m, while the other real estate transactions acquired nearly 70 percent of the total transactions amounting to QR213.8m, including six villas and 21 houses.

Al Rayyan Municipality came in the second position with QR254m in terms of transaction value, acquiring 31.5 percent of the total transactions of the week with the implementation of 32 deals.

The value of transactions in the Municipality increase by 230 percent compared the previous week.

The price of the top deal in Al Rayyan was QR115m from the sale of a plot in Aziziyah spread in an area of 3,600 square meters. And the value of the top deal in Umm Salal was QR20m from the sale of a villa plot in Khraitiyat with an area of 4,459 square meters.

© The Peninsula 2013

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