Real Estate Trading Volume Exceeds QR 827 Million in August 2024

Doha: The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in August 2024, amounted to QR 827,058,956. The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 249 real estate transactions were recorded during the month, as the number of properties sold index recorded an increase of 01 percent, compared to the previous month. Doha, Al Rayyan, and Umm Salal municipalities topped the most active transactions in terms of financial value in August, according to the real estate market index, followed by Al Dhaayen, Al Wakrah, Al Khor and Al Dhakira, and Al Shamal. The real estate market index for August 2024, revealed that the financial value of Doha municipality's transactions amounted to QR 287,587,480. The financial value of Al Rayyan municipality's transactions amounted to QR 235,384,093, financial value of Umm Salal municipality's transactions amounted to QR 110,585,490, while the financ ial value of Al Dhaayen municipality's transactions amounted to QR 91,296,641. The financial value of Al Wakrah municipality's transactions amounted to QR 52,272,200. The financial value of Al Khor and Al Dhakira municipality's transactions amounted to QR 31,750,093, while Al Shamal municipality recorded transactions with a value of QR 17,786,959 million. In terms of the traded space index, indicators revealed that Al Rayyan, Doha, and Umm Salal municipalities recorded the most active municipalities, in terms of traded real estate spaces during August 2024, with 34 percent for Al Rayyan municipality, followed by Doha municipality with 21 percent, and Umm Salal with 14 percent. Al Dhaayen municipality recorded 11 percent, Al Dhaayen with 11 percent, Al Khor and Al Dhakira recorded 9 percent, while Al Shamal municipality recorded 5 percent of the total traded spaces. Concerning the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities d uring August were Al Rayyan with 31 percent, followed by Doha with 23 percent, then Al Dhaayen with 14 percent. Umm Salal recorded traded transactions with 13 percent, Al Wakrah with 8 percent, Al Khor and Al Dhakira with 6 percent, and Al Shamal with 5 percent of the total real estate transactions. An average per square foot prices for August ranged between (405-769) in Doha, (229-462) in Al Wakrah, (319-406) in Al Rayyan, (294-483) in Umm Salal, (303-547) in Al Dhaayen, (221-310) in Al Khor and Al Dhakira, and (147-346) in Al Shamal. The trading volume revealed the highest value of 10 properties sold in August with Doha recording 6 properties, two properties in Al Rayyan, and one property in Ueach of Umm Salal and Al Dhaayen. As for the volume of mortgage transactions in August, the number of transactions amounted to 86 transactions, with a total value of QR 1,671,848,482. Doha recorded the highest number of mortgage transactions with 36 transactions, equivalent to 41.9 percent of the total number of mo rtgaged properties, followed by Al Rayyan with 25 transactions, equivalent to 29.1 percent of the total number of mortgaged properties, followed by Al Dhaayen with 9 transactions equivalent to 10.5 percent of the total number of mortgaged properties, then Umm Salal with 7 transactions, equivalent to 8.1 percent, Al Wakrah with 5 transactions, equivalent to 5.8 percent, followed by Al Khor and Al Dhakira with 3 transactions, and Al Shamal with 1 transaction. As to the value of mortgages, the municipality of Doha came in the lead with a value of QR 1,418,578,092, with Al Shamal recording the lowest value of QR 2,160,000. Source: Qatar News Agency