DOHA: Transactions of open plots continue to dominate Qatar’s real estate deals. Vacant plots recorded transactions worth QR1.86bn in February 2014, making an approximate 65 percent of overall transaction value across all real estate assets during the month.
Across the seven municipalities, vacant plots recorded the highest numbers of deals reaching 602 transactions, followed by villa transactions which recorded 133 deals while building transactions recorded nine deals and other mixed type of assets registered only four transactions deals.
“Century 21 Qatar” noted in its monthly real estate transaction summary that the country’s real estate transaction market witnessed transaction deals worth QR2.8bn against 748 transactions in February 2014.
Villa transactions recorded QR0.68bn worth of deals making an approximate 24 percent of the total transaction value. Buildings recorded a moderate transaction worth recording only QR119m standing at approximate 4 percent while mixed and uncategorised real estate assets recorded transaction value reaching QR203m machining it cover a 7 percent of overall real estate transaction value of the month.
Meanwhile, the data from the Ministry of Justice said Qatar witnessed real estate transactions worth a total of QR962m between March 9 and 13. A significant number of deals during this week accounted from open lands.
According to “Century 21 Qatar” report, the total transaction value country-wide reached QR2.8bn with Doha municipality registered the highest transaction value of QR1.03bn covering 36 percent of overall transactions, compared to the rest six municipalities. Al Wakra registered the second highest transaction value with QR549m, followed by Al Rayan with recorded transaction value reaching QR471m. Umm Salal and Al Daayem municipalities recorded QR298m and QR287m respectively followed by Al Khor and Al Shamal municipality with the least recorded transaction value standing at QR187m and QR37m respectively.
In terms of the total number of transactions, Al Wakra witnessed the highest number of deals reaching 172 followed by Doha which recorded 120 transactions. Al Da’ayen, Al Khor, Umm Salal and Al Rayyan closely followed one another by recording 116,108, 106 and 94 transactions respectively leaving Al Shamal municipality at the bottom of the table with recorded number of transaction reaching only 32 transactions.
The overall transaction market performance between transactional value and number of transactions witnessed a wide gap in Doha which recorded 36 percent of transaction value against 16 percent of the total number of transactions. The Peninsula
