The volume of real estate transaction in sales contracts registered with the Real Estate Registration Department at the Ministry of Justice in August amounted to QR4,156,341,940.
Data from the analytical real estate bulletin issued by the Ministry of Justice showed that 497 real estate deals were registered during the month, compared to July, and the real estate value index recorded an increase of 49%, while the index of traded areas increased by 42%.
The municipalities of Al Daayen, Doha, Umm Salal and Al Rayyan topped the most active transactions in terms of financial value, followed by Al Wakrah, Al Khor, Al Dhakira, Al Shamal and Al Shahaniya.
The value of the transactions in Al Daayen municipality amounted to QR1,593,779,284, while for Doha municipality it amounted to QR1,72,308,241; Umm Salal municipality saw deals worth QR633,374,628, and Al-Rayyan saw QR619,882,678 transactions.
The financial value of Al Wakrah municipality's transactions amounted to QR122,222,464, and the Al Khor and Al Dhakira municipality recorded transactions worth QR53,937,562, followed by Al Shamal municipality (QR52,424,666) and Al Shahaniya municipality (QR8,412,417).
In terms of the traded areas index, the municipalities of Al Daayen, Umm Salal, and Al Rayyan were the most active for real estate areas traded during the month of August, by 44% for Al Daayen municipality, followed by Umm Salal at 20%, (and Umm Salal by 19%), while the municipalities of Al Rayyan and Al Wakrah recorded traded areas by 12% each, Al Rayyan by 17%, Doha by 11%, Al Wakrah and Al Shamal by 3% each, and Al Khor and Al Dhakira by 2%.
As for the number of transactions (sold real estate), the trading indicators showed that the most active municipalities during August for the number of properties sold were Al Daayen municipality by 31%, followed by Al Rayyan municipality by 19%, then Doha municipality by 18%, then the municipality of Umm Salal by 13%, followed by Al Wakrah municipality with 9%, while the Al Khor and Al Dhakira municipality recorded deals by 5%, Al Shamal by 4%, and finally Al Shahaniya municipality by 1%.
The average prices per square foot for the month of August ranged between (531 – 1055) in Doha, (256 – 479) in Al Wakrah, (322 – 465) in Al Rayyan, (251 – 353) in Umm Salal, and (290 – 480) in Al Daayen, (184 – 268) in Al Khor and Al Dhakira, (141 – 274) in Al Shamal, and (125 – 304) in Al Shahaniya.
The volume of trading revealed that the highest value of ten sold properties was recorded for August, which saw four real estate deals in Doha municipality, three properties in Al Daayen, 2 properties in Umm Salal, and one property in Al Rayyan municipality.
The volume of mortgage transactions during the month reached 89 transactions, with a total value of QR 3,651,485,526. As for the value of mortgages, Doha municipality recorded QR1,800,655,967, while Al Khor and Al Dhakira recorded the lowest value.
Doha municipality registered five of the top 10 mortgaged properties, while the Al Wakrah registered three mortgaged properties, and Al Rayyan municipality registered two mortgaged properties out of the total foreclosed properties.
The volume of foreclosure transactions for the top 10 properties stood at 87% of the total value of all mortgage transactions that took place during August.
Data during the month of August indicates that the real estate sector continues its steady growth in various investment and commercial fields.
These figures also confirm the strength of the foundations of the Qatari economy and the continued growth of the real estate sector as one of its main components.