Real Estate Trading Volume Reaches QR 1.419 Billion in September

Doha: The volume of real estate trading in sales contracts registered with the Real Estate Registration Department at the Ministry of Justice during September amounted to QR 1,419,242,383. Data from the analytical real estate bulletin issued by the Ministry of Justice showed that 303 real estate deals were registered during the month, as the number of properties sold index recorded an increase of 22 percent compared to August, while the real estate trading value index recorded an increase of 72 percent, and the traded area index recorded an increase of 194 percent. The municipalities of Al Rayyan, Al Wakrah, Doha, and Al Dhaayen topped the most active transactions in terms of financial value during September according to the real estate market index, followed by the municipalities of Umm Salal, Al Khor and Al Thakhira, Al Shamal and Al Sheehaniya in terms of deal volumes. The real estate market index for September revealed that the financial value of transactions in Al Rayyan Municipality amounted to (QR 3 36,778,641), and (QR 332,704,875), in Al Wakrah Municipality, while the financial value of transactions in Doha Municipality amounted to (QR 332,427,945), and (QR 278,053,746) in Al Dhaayen Municipality. Umm Salal Municipality recorded transactions worth (QR 91,832,969), Al Khor and Al Thakhira Municipality recorded transactions worth (QR 33,212,253), while Al Shamal Municipality reached (QR 14,010,555), and Al Sheehaniya Municipality recorded transactions worth (QR 221,390). In terms of the traded areas index, the indicators showed that Al Wakra, Al Rayyan, and Doha Municipalities recorded the most active municipalities for the traded real estate areas during September, with a rate of (59 percent) for Al Wakrah Municipality, followed by Al Rayyan Municipality with a rate of (14 percent), then Doha Municipality with a rate of (11 percent), while Al Dhaayen Municipality recorded transactions worth (7 percent), Umm Salal Municipality with transactions worth (6 percent), then Al Khor and Al Thakhira Municipali ty with transactions worth (2 percent), while Al Shamal Municipality recorded (1 percent) of the total traded areas. In terms of the number of real estate transactions (sold properties), trading indicators showed that the most active municipalities during September were Doha Municipality with a rate of (28 percent), followed by Al Rayyan Municipality with a rate of (24 percent), then Al Dhaayen Municipality with a rate of (15 percent), while Al Wakrah and Umm Salal Municipalities recorded transactions with a rate of (11 percent) each, Al Khor and Al Thakhira Municipality recorded (6 percent) and finally Al Shamal Municipality (4 percent) of the total real estate transactions. The average price per square foot for September ranged between (QR 411 - 709) in Doha, (QR 227 - 420) in Al Wakrah, (QR 377 - 417) in Al Rayyan, (QR 223 - 441) in Umm Salal, (QR 371 - 713) in Al Dhaayen, (QR 216 - 348) in Al Khor and Al Dhakira, (QR 143 - 225) in Al Shamal, and (QR 208) in Al Shahaniya. The trading volume revealed the highest value of (10) properties sold for September, of which Al Dhaayen Municipality had 5 properties, Al Rayyan Municipality had 4, and Al Wakrah Municipality had one property. Regarding the volume of mortgage transactions during September, the number of mortgage transactions that took place during the month amounted to (72) transactions, with a total value of QR 2,594,047,691. Doha Municipality recorded the highest number of mortgage transactions with (32) transactions, equivalent to (44.4 percent) of the total number of mortgaged properties, followed by Al Rayyan Municipality with (22) transactions, equivalent to (30.6 percent) of the total number of mortgaged properties, then Al Dhaayen Municipality with (7) transactions, equivalent to (9.7 percent) of the total mortgaged properties, then Al Wakrah with (9) transactions, equivalent to (10.5 percent), Umm Salal Municipality with (6) transactions, equivalent to (8.3 percent), Al Khor and Al Thakhira Municipality with (3) transactions, equivalent to (4.2 percent), and Al Wakrah Municipality with two transactions, equivalent to (2.8 percent). Regarding the value of mortgages, Doha Municipality came in first with a value of QR 1,67,857,254, while Al Khor and Al Thakhira Municipality recorded the lowest value, amounting to QR 9,815,564. Looking at the mortgage movement index by studying the ratio of the number of mortgaged properties to the ratio of their financial value, the ratio of the number of mortgaged properties is greater than the ratio of mortgage transaction amounts, in all municipalities that witnessed mortgage transactions except for Doha and Al Rayyan Municipalities, where the mortgage transaction amounts achieved higher ratios compared to the average number of mortgage transactions. Regarding the movement and volume of mortgage transactions that took place during the month, Doha Municipality recorded 5 of the top 10 mortgaged properties, while Al Rayyan Municipality recorded 4 mortgaged properties, and Umm Salal Municipality recorded one propert y. The volume of mortgage transactions for the top (10) properties amounted to 92 percent of the total value of all mortgage transactions that took place during September. The movement of residential units trading during September recorded (97) residential unit deals with a total value of QR 174,844,666. Real estate trading data during September 2024 showed that the real estate sector continues its steady and strong growth in various investment and commercial fields, thus continuing the active trading movement witnessed by the sector during the recent period, especially with the issuance of new laws and decisions related to real estate brokerage, real estate registration, and documentation, ownership, and usufruct, in addition to laws attracting local and foreign capital. This data also confirms the strength and solidity of the foundations of the Qatari economy and the continued growth of the real estate sector as one of its main components. Source: Qatar News Agency