Real Estate Trading Volume Exceeds QR 1.1 Billion in June 2024

Doha: The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in June 2024, amounted to QR 1,118,975,109. The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 285 real estate transactions were recorded during the month, as the number of properties sold index recorded an increase of 8 percent. Al Dhaayen, Al Rayyan, and Doha municipalities topped the most active transactions in terms of financial value in June, according to the real estate market index, followed by Umm Salal, Al Wakrah, Al Khor and Al Dhakira, and Al Shamal The real estate market index for June 2024, revealed that the financial value of Al Rayyan municipality's transactions amounted to QR 358,693,071. The financial value of Al Dhaayen municipality's transactions amounted to QR 290,170,508 while the financial value of Doha municipality's transactions amounted to QR 288,984,702. The financial value of Umm Salal municipality 's transactions amounted to QR 93,532,996. Al Wakrah municipality recorded transactions with a value of QR 42,190,858 million, while Al Khor and Al Dhakira municipality recorded trading with a value of QR 31,534,209 million. Al Shamal municipality recorded transactions with a value of QR 13,868,765. In terms of the traded space index, indicators revealed that Al Rayyan, Doha, and Al Dhaayen municipalities recorded the most active municipalities, in terms of traded real estate spaces during June, with 40 percent for Al Rayyan Municipality, followed by Doha with 24 percent, and Al Dhaayen with 17 percent, with Umm Salal recording 8 percent, while Al Wakrah and Al Khor and Al Dhakira recorded 4 percent, and Al Shamal 3 percent, of the total traded spaces. In regard to the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during June were Al Rayyan with 24 percent followed by Doha with 31 percent, then Al Dhaayen with 20 percent. Umm Salal recorded traded transactions with 9 percent, Al Wakrah and Al Khor and Al Dhakira with 7 percent, and Al Shamal with 4 percent of the total real estate transactions. An verage per square foot prices for June ranged between (390-682) in Doha, (263-472) in Al Wakrah, (292-488) in Al Rayyan, (284-526) in Umm Salal, (280-489) in Al Dhaayen, (221-347) in Al Khor and Al Dhakira, and 144 in Al Shamal. The trading volume revealed the highest value of 10 properties sold in June with Al Dhaayen recording 6 properties, three properties in Al Rayya, and one property in Umm Salal. As for the volume of mortgage transactions in June, the number of transactions amounted to 78 transactions, with a total value of QR 4,581,635,139. Al Rayyan recorded the highest number of mortgage transactions with 28 transactions, equivalent to 35.9 percent of the total number of mortgaged properties, followed by Doha with 24 transactions, equivalent to 30.8 percent of the total number of mortgaged properties, followed by Al Dhaayen with 15 transactions equivalent to 19.2 percent of the total number of mortgaged properties, then Umm Salal with 7 transactions, equivalent to 9.0 percent, Al Wakrah with 3 transactions, equivalent to 3.8 percent, along with Al Khor and Al Dhakira with one transaction, equivalent to 1.3 percent of the total number of mortgaged properties during June. As to the value of mortgages, the municipality of Doha came in the lead with a value of QR 3,268,481,670, with Al Khor and Al Dhakira recording the lowest value of QR 1,175,000. Considering 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, the ratio of the number of mortgaged properties was greater than the ratio of the amounts of mortgage transactions in all municipalities that witnessed mortgage transactions except Doha Municipality, where the amounts of mortgage transactions achieved higher ratios compared to the average number of mortgage transactions. I n terms of the movement and volume of mortgage transactions during June, Doha Municipality recorded 6 of the top 10 mortgaged properties, with Al Rayyan recording 4 mortgaged properties. The volume of mortgage transactions for the top 10 properties reached 80 percent of the total value of all mortgage transactions during June. Additionally, the residential unit trading movement during June reached 52 transactions with a total value of QR 122,648,720. Source: Qatar News Agency