Doha: Real estate transactions in Qatar reached QR4.2bn in March with Doha municipality registered the highest transaction value by recording QR1.5bn covering an approximate 37 percent out of overall transaction value of the month comparing to the rest of the six municipalities, according to monthly report released by real estate firm Century 21 Qatar.
Al Rayyan registered second highest transaction value in March by registering transactions worth QR1.3bn followed by Al Wakra which witnessed transcations worth QR410m. Umm Salal and Al Da’ayem municipalities recorded QR381m and QR347m, respectively followed by Al Khor and Al Shamal municipality where transaction value stood at QR137m and QR22m.
The number of transactions registered across the seven municipalities reached 867 transactions mainly dominated by vacant plots making 67 percent of total transactions. Al Rayyan registered the highest number of transactions reaching 332 followed by Doha which recorded 151 transactions. Al Da’ayen, Umm Salal, Al Wakra and Al Khor followed with recorded 121, 98, 91 and 58 transactions, respectively, leaving Al Shamal municipality at the bottom of the table with recorded number of transaction reaching only 16 transactions.
The real estate sector has also registered impressive growth on weekly basis.
Ezdan Holding Group said that Qatar’s real estate sector has continued its growth at the level of the number of transactions executed during the first week of April, despite the decline in the transaction value by 28.5 percent compared to the previous week, recording about 228 transactions worth QR1.3bn compared to 417 worth QR1.9bn in the previous week.
Al Daayen Municipality acquired the largest number of transactions implemented during this week, with the execution of 57 deals acquiring 25 percent of transactions implement in this week. While Doha and Rayyan municipalities remarkably emerged through implementing 45 transactions each, noting that land transactions represented 56.8 percent of total deals.
Ezdan Weekly report of the first week of April from March 30 until April 3, 2014 revealed transactions worth QR1334m compared to QR1,866m in the previous week, a decline of 28.5 percent according to the recent weekly bulletin issued by the Real Estate Registration Department at the Ministry of Justice, pointing that the average daily value of real estate transactions amounted to about QR266.8m compared to QR373.2m in the previous week.
Back to transactions during the first week of April, Doha Municipality ranked first, acquiring real estate transactions worth QR746.9m compared to QR631.7m in the previous week, an increase of 18.2 percent with the implementation of 45 transactions compared to 55 in the previous week, acquiring 56 percent of the total transactions of the week.
As for the top deal in Doha Municipality, it was a QR130 m deal from the sale of a residential building and a number of shops in the Pearl area of 7520 square meters at QR18.6 thousand per square meter, among other property units.
The Peninsula
