The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in September 2023 amounted to QR1,37,617,682.
The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that (300) real estate transactions were recorded during the month. Compared to August 2023, the index of sold real estate registered an increase of 1 percent, and the index of traded areas registered an increase of 3 percent.
Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in September 2023, according to the real estate market index, followed by Al Wakrah, Umm Slal, Al Khor, Al Dhakira, Al Shamal, and Al Shahaniya.
The real estate market index for September revealed that the financial value of Al Rayyan municipality's transactions amounted to QR 341,793,633. The financial value of Doha municipality's transactions amounted to QR 328,446,892; while the financial value of Al Dhaayen municipality's transactions amounted to QR 154,912,596. The financial value of Al Wakrah municipality's transactions amounted to QR 95,862,415. Umm Salal municipality recorded transactions with a value of QR 66, 304,131, while Al Khor and Al Dhakira municipality recorded transactions with a value of QR 33,672,564, Al Shamal municipality recorded trading with a value of QR 15,911,165, and Al Shahaniya municipality recorded transactions with a value of QR 714, 286.
In terms of the traded space index, indicators reveal that Al Rayyan, Doha, and Al Dhaayen municipalities recorded the most active municipalities in terms of traded real estate spaces during September, with 39 percent for Al Rayyan, followed by Doha municipality with 19 percent, Al Dhaayen with 15 percent. Al Wakrah recorded 13 percent, Umm Salal recorded 6 percent, Al Khor and Al Dhakira recorded 4 percent of the total traded spaces.
In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during September were Doha (25 percent) followed by Al Rayyan (24 percent), Al Dhaayen (20 percent), Al Wakrah (13 percent) and Umm Salal (8 percent), Al Khor and Al Dhakira recorded (5 percent) of the total real estate transactions.
Average per square foot prices for September ranged between (372-871) in Doha, (260-438) in Al Wakrah, (337-390) in Al Rayyan, (432-257) in Umm Salal, (227-469) in Al Dhaayen, (228-413) in Al Khor and Al Dhakira, (151-200) in Al Shamal, 130 in Al Shahaniya.
The trading volume revealed the highest value of (10) properties sold in September, recording (6) properties in Al Rayyan, and (4) properties in Doha.
As for the volume of mortgage transactions that took place in September 2023, the number of mortgage transactions amounted to 110 transactions, with a total value of QR (2,694,623,782). Doha recorded the highest number of mortgage transactions with (35) transactions, equivalent to 31.8 percent of the total number of mortgaged properties, followed by Al Rayyan with 32 transactions equivalent to 29.1 percent, Al Dhaayen with 18 transactions equivalent to 16.4 percent, Umm Salal with 17 transactions equivalent to 15.5 percent, Al Wakrah with 5 transactions equivalent to 4.5 percent, Al Shamal with 2 transactions equivalent to 1.8 percent, and finally Al Shamal with 1 transaction equivalent to 0.9 percent of the total properties mortgaged during the month.
As for the value of mortgages, Doha Municipality came in the lead with a value of QR 1,902,751,000, while Al Khor and Al Dhakira recorded the lowest value amounting to QR 2,533,000.
Looking at 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, it is found that the ratio of the number of mortgaged properties is greater than the ratio of the amounts of mortgage transactions in all municipalities that witnessed mortgage transactions, except for Doha municipality, where it is found that the amounts of mortgage transactions achieved a higher rate compared to the number of mortgage transactions.
Tracking the movement and volume of mortgage transactions that took place in September, it is found that Doha Municipality recorded 5 of the top 10 mortgaged properties, while Al Rayyan recorded 3 mortgaged properties and Al Dhaayen recorded 2 mortgaged properties. The volume of mortgage transactions for the highest 10 properties reached 72 percent of the total value of all mortgage transactions that took place during September.
As for trading in the Pearl and Al Qassar Area, the number of transactions registered in September 2023 amounted to 86 deals for residential units included in the buying and selling transactions, with a total value of QR 189,189,287.
Real estate trading data during September 2023 reveals that the real estate sector continues to grow steadily and robustly in all investment and commercial fields to continue the movement of active trading in the sector during the recent period, especially with the issuance of new laws and decisions on real estate brokerage, real estate registration, ownership, and usufruct, along with laws that attract local and foreign capital.
These data affirm the strength of the Qatari economic basis and the constant growth of the real estate sector as a major element of it.
Source: Qatar News Agency