Qatar’s real estate market witnessed a remarkable growth in the month of April 2019, with the total value of monthly transactions reaching at QR2.99bn, registering a triple-digit growth of 100 percent (month-on-month) compared to QR1.49bn reported in March 2019, official data show.
When compared on year-on-year basis, the transaction value in April saw a fall of 8.8 percent against QR3.28bn registered in the corresponding month last year (April 2018), according to the latest edition of the Qatar Monthly Statistics released by the Planning and Statistics Authority.
The number of total real estate properties sold in April 2019, across all municipalities, reached 358, which remained stable, or unchanged, compared to March 2019. When compared on year-on-year basis the number of total deals signed in April was down 29.5 percent against 508 deals inked in the same month last year.
Doha municipality stood on top, both in terms of deal value as well as the number of transactions. The combined value of transactions in the municipality reached QR1.47bn (from 116 deals) accounting for over 49 percent of the total deal value. Doha municipality accounted for over 32 percent of the total deals in April 2019.
When compared on monthly basis, Doha saw 120.5 percent rise in deal value in April compared to QR669.5m worth of properties sold in March in the municipality area. However, on yearly basis, the deal value witnessed a fall of 2.7 percent against QR1.51bn in April 2018.
Al Rayyan municipality ranked second, both in terms of the combined value of deals as well as the number of transactions. The total value of deals in Al Rayyan area stood at QR1.1bn (from 100 deals), accounting for nearly 37 percent of the total deal value in April 2019. Al Rayyan municipality bagged about 28 percent of the total number of transactions (358) signed across all municipalities in the month of April.
Al Daayen municipality stood at the third position, both in terms of the number of transactions as well as total deal value. The total value of deals reached QR147.9m from 60 deals during the month of April, registering a month-on-month fall of 12.7 percent compared to QR169.3m worth of deals signed in March 2019. The municipality accounted for over 16.75 percent of the total transactions for the month of April 2019.
Analysing in terms of the types of properties, vacant plots of land dominated the real estate transactions in April with the total value of QR755.5m, accounting for nearly 25 percent of the total deal value, registering a month-on-month growth of about 41.8 percent compared to QR532.7m in March 2019.
The values for Apartment Buildings and Villa Complexes stood at QR508.5m and QR339.1m, respectively. The transaction value for Apartment Buildings saw a significant rise of 101.8 percent (month-on-month) when compared with QR251.9m in March 2019. On yearly basis, the deal value (for Apartment Buildings) soared by nearly 200 percent against QR169.9m in April 2018.
The combined value of properties classified under ‘Other’ category stood at QR1.06bn in April (nearly 36 percent of the total deal value), showing an astronomical jump of nearly 1300 percent against QR76.4m in March.
When compared on yearly basis, the value surged by 172.6 percent versus QR392.3m for April 2018.
