Doha, Qatar: The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in August 2023 amounted to QR1,011,404,475.
The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 297 real estate transactions were recorded during the month. Doha, Al Rayyan, and Al Wakrak municipalities topped the most active transactions in terms of financial value in August 2023, according to the real estate market index, followed by Umm Slal, Al Dhaayen, Al Shamal, Al Khor and Al Dhakira, and Al Sheehaniya.
The real estate market index for the month of August revealed that the financial value of Doha municipality’s transactions amounted to QR290,085,005. The financial value of Al Rayyan municipality’s transactions amounted to QR266,921,713; while the financial value of Al Wakrah municipality’s transactions amounted to QR191,689,444.
The financial value of Umm Salal municipality’s transactions amounted to QR114,170,148. Al Dhaayen municipality recorded transactions with a value of QR92,549,211, while Al Shamal municipality recorded transactions with a value of QR32,701,000, Al Khor and Al Dhakira municipality recorded trading with a value of QR22,329,335 and Al Sheehaniya municipality recorded transactions with a value of QR948,615.
In terms of the traded space index, indicators reveal that Al Rayyan, Al Wakrah and Doha municipalities recorded the most active municipalities in terms of traded real estate spaces during the month of August, with 27 percent for Al Rayyan, followed by Al Wakrah municipality with 25 percent, Doha with 20 percent. Umm Salal recorded 10 percent of the total traded spaces, Al Dhaayen recorded 9 percent, Al Shamal 6 percent, and Al Khor and Al Dhakira recorded 3 percent.
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 August were Al Rayyan (30 percent) followed by Doha (19 percent), Al Wakrah (14 percent), Umm Salal (13 percent) AL Dhaayen (12 percent), Al Khor and Al Dhakira and Al Shamal recorded (6 percent) each.
Average per square foot prices for the month of August ranged between (466-709) in Doha, (248-508) in Al Wakrah, (264-410) in Al Rayyan, (235-439) in Umm Salal, (267-437) in Al Dhaayen, (187-273) in Al Khor and Al Dhakira, (139-374) in Al Shamal and QR 116 in Al Sheehaniya.
The trading volume revealed the highest value of (10) properties sold in August, recording (7) properties in Doha, and one property in each of Al Rayyan, Al Wakrah and Umm Salal.
As for the volume of mortgage transactions that took place in August 2023, the number of mortgage transactions amounted to 85 transactions, with a total value of QR3,384,334,894.
Doha recorded the highest number of mortgage transactions with (38) transactions, equivalent to 44.7 percent of the total number of mortgaged properties, followed by Al Dhaayen and Umm Salal with 10 transactions each equivalent to 11.8 percent, Al Wakrah with 6 transactions (7.1 percent), and Al Khor and Al Dhakira with 2 transactions (2.4 percent).
As for the value of mortgages, Doha Municipality came in the lead with a value of QR2,709,612,393, while Al Khor and Al Dhakira ecorded the lowest value amounting to QR11,297,000.
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 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 in August, it is found that Doha Municipality recorded 6 of the top 10 mortgaged properties, while Al Rayan and Umm Salal recorded 2 mortgaged properties each. The volume of mortgage transactions for the highest 10 properties reached 85 percent of the total value of all mortgage transactions that took place during the month of August.
As for trading in the Pearl and Al Qassar area, the number of transactions registered in August 2023 hiked to each 230 deals for residential units included in the buying and selling transactions, with a total value of QR364,670,838.
Real estate trading data during the month of August 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.
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