Qatar realty deals rise 8% in 2013 to QR46.8bn

The number of total transacted properties in Qatar grew 7% to 8,909 in 2013, Century 21 has said in a report. Real estate transaction in Qatar recorded an 8% increase year-on-year with a total value to QR46.8bn in 2013, mainly on a substantial jump in transactions in Doha, according to Century 21, one of the largest realty services firm in the country.The number of overall total transacted properties grew 7% to 8,909 during 2013, Century 21 said in its annual report.Doha recorded the highest transaction value reaching QR21.86bn in 2013 (against QR21.7bn in 2012), followed by Al Rayyan QR9.73bn (QR6.3bn), Al Wakrah QR4.9bn (QR3.7bn), Al Da’ayen QR4.4bn (QR6.8bn), Umm Salal QR3.9bn (QR2.9bn), Al Khor QR1.3bn (QR1.6bn) and Al Shamal QR0.5bn (QR0.2bn).Across the seven municipalities, Al Shamal saw the highest improvement, reaching 355 transactions in 2013 (compared to 202 in 2012), followed by Al Khor 723 (671), Al Rayyan 1,621 (1,281) and Al Wakrah 1,746 (1,453).However, Doha and Al Da’ayen witnessed fall in transactions to 1,927 and 1,301 in 2013 against 2,011 and 1,610 respectively in the previous year.Total villa transactions in the country saw a 2% rise to 1,984. Doha, which dominated the villa transactions, reported 4% increase to 860.The highest improvement was registered in Al Shamal where villa transactions more than tripled to 49 in 2013.Al Da’ayen, Umm Salal and Al Rayyan registered 43, 205 and 535 transactions respectively in 2013 against 40, 184 and 466 in 2012.Al Khor and Al Wakrah are the only two municipalities to register decline with them recording 135 and 157 deals in 2013 against 233 and 176 in the previous year.Monthly rental price for villas in West Bay was the highest ranging between a minimum of QR20,000 and maximum of QR35,000. Al Waab area remains the most popular area for the medium to high income bracket with rents ranging between QR14,000 and QR26,000.The lowest villa rents were found in Al Dhakhira and Al Khor where it ranges between QR6,000 and QR12,000.The rents for one-bedroom and three-bedroom apartments in Dafna and West Bay range from QR9,000 to QR19,000 respectively, while Old Airport it ranges between QR4,000 and QR7,500. Al Sadd, Bin Mahmood and Al Mansoora rents range between QR7,000 and QR12,000.Premium office rents per square meter per month in Doha ranges between QR180 and QR220.The standard office spaces rate range between QR130 and QR170 per square meter per month, while budget office spaces are let out between QR90 and QR125.Vacant plots transaction performance witnessed Al Wakrah Municipality taking over Al Da’ayen in 2013 by recording 1,583 (against 1,274 in 2012), while it was 1,266 in Al Da’ayen (1,568).On municipality-wise performance, Al Shamal saw the highest improvement through 304 deals (against 186 in 2012). Umm Salal, Al Khor and Al Rayyan also registered significant improvement recording 1,018, 582 and 1,065 in 2013 from 884, 436 and 774 respectively in the previous year.Despite having the fourth highest recorded number of transactions during 2013, Doha witnessed a significant 9% drop to 888 transactions, it said.Overall the number of vacant plots transactions country wide witnessed a growth of 10% to 6,706 transactions in 2013.