Doha: The real estate market continues to rally up backed by a large volume of property sales executed during the past week.
A number of substantial sale deals in some municipalities contributed to the continuing rise of the real estate price index, coupled with positive sentiments in the market as the country embarks on the third stage of easing down lockdown restrictions to contain COVID19 outbreak in Qatar, Ezdan Real Estate weekly report noted.
The bulletin released by the Real Estate Registration Department for the period from July 23 to 23, 2020, showed a total volume of 141 property sales deals, worth QR513.8m. The operations were distributed over 8 municipalities: Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayan, North, Shehaniya, Al Daayen and Al Wakrah. The transactions included the sale of vacant land lots, residential units, multi-use buildings, multi-use land lots, and residential buildings. Umm Salal ranked first in terms of deal value that accounted for QR 56.6m.
The deal entailed the sale of an extensive land lot spanning over 26,303 square meters. It was sold at QR200 per square foot.Umm Salal also registered the second highest deal in terms of value by selling a piece of vacant land lot in Al Kharaitiyat spreading over 12,507 square meters and was sold at QR282 per square foot, bringing the total deal at QR38mn.
