File photo used for representation only.
Doha: The volume of real estate transaction in sales contracts registered with the real estate registration department at the Ministry of Justice during the month of January of this year amounted to QR 2,738,578,666.
The data of the analytical real estate bulletin issued by the Ministry of Justice showed that 568 real estate deals were registered during the month. The number of sold real estate increased 17 percent in January on a monthly basis. The increase was at 37 percent when measured by total area.
Al Rayyan, Doha, Al Dhaayen were the most actively traded areas by total value. Al Rayyan had transactions worth QR1,295,522,234 during the month. It was followed by Doha, which had QR 690,224,625. Al Dhaayen was the third most active with a total value of QR427,435,279.
By total area, the same three municipalities were also the most active. A total of 55 percent of the total area sold were in Al Rayyan. Al Dhaayen had 19 percent, and Doha 10 percent. Umm Salal and Al Shamal had 5 percent each. Al Wakra was behind it with 4 percent, with Al Khor and Al Thukhaira having 2 percent combined.
The average price per meter in January ranged from QR398 to 1088 in Doha, QR235-503 in Al Wakra, QR322-429 in Al Rayyan, QR249-410 in Umm Salal, and QR269-428 in Al Dhaayen.
The total value of mortgages during January was QR2,378,269,984. Doha had a total mortgage value of 1,111,740,523. Al Shamal had the lowest value, at QR2,000,849. As for transactions in the Pearl and Al Gassar areas in January, there were 83 deals worth a combined QR146,588,231.
Data showed that real estate trading in November continues its steady growth, boosted by new laws related to real estate brokerage and laws attracting local and foreign capital.
The data also confirm the strength and durability of the foundations of the Qatari economy and the continued growth of the real estate sector as one of its main components.
