Doha: The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in March 2023 amounted to QR1,236,182,539.
The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 340 real estate transactions were recorded during the month.
Compared to January 2023, the real estate index increased by 70 percent compared to January 2023, while the value of real estate trading index increased by 79 percent, and the traded areas index increased by 51 percent.
Doha, Al Rayyan, and Al Wakrah Municipalities topped the most active transactions in terms of financial value during March 2023, according to the real estate market index, followed by Al Dhaayen, Umm Slal, Al Khor & Dhakira, Al Shamal and Al Shehaniya Municipalities.
The real estate market index for the month of March revealed that the financial value of Doha Municipality’s transactions amounted to QR448,999,730. The financial value of Al Rayyan Municipality’s transactions amounted to QR 392,404,9. The financial value of Al Wakrah Municipality’s transactions amounted to QR169,97,935, the financial value of Al Dhaayen Municipality’s transactions amounted to QR105,870,936. Umm Salal Municipality recorded transactions with a value of QR64,97,499, and Al Khor & Dhakira Municipality recorded transactions with a value of QR40,99,207. Al Shamal Municipality recorded trading with a value of QR 14,781,223. Al Sheehaniya Municipality recorded trading with a value of QR850,000.
In terms of the traded space index, indicators reveal that Al Rayyan, Doha, and Al Wakrah Municipalities recorded the most active municipalities in terms of traded real estate spaces during the month of March, with 28 percent for Al Rayyan and Al Wakrah, followed by Doha Municipality with 20 percent, Al Dhaayen with 9 percent, while Umm Salal recorded seven percent, Al Khor & Dhakira Municipalities recorded five percent, and Al Shamal recorded three percent of the total traded spaces each.
In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during the month of March were Al Rayyan and Doha Municipalities (24 percent each), followed by Al Wakrah Municipality (23 percent), Al Dhaayen (11 percent), and Umm Salal Municipality (seven percent), while Al Khor & Dhakira Municipality recorded ( five percent) and Al Shamal Municipality recorded (3 percent) of the total real estate transactions.
Average per square foot prices for the month of March ranged between (996-474) in Doha, (445-208) in Al Wakrah, (519-391) in Al Rayyan, (234-558) in Umm Salal, (267-604) in Al Dhaayen, (227-365) in Al Khor & Dhakira, and (151-297) in Al Shamal and 106 in Al Sheehaniya.
The trading volume revealed that the highest value of (10) properties sold was recorded for the month of March, recording six properties in Al Rayyan Municipality, four properties in Al Doha Municipality.
As for the volume of mortgage transactions that took place during the month of March 2023, the number of mortgage transactions amounted to 97 transactions, with a total value of QR1,848,122,517.
Al Rayyan Municipality recorded the highest number of mortgage transactions with 35 transactions, equivalent to 36.1 percent of the total number of mortgaged properties, followed by Al Doha with 33 transactions equivalent to 34.0 percent, and Al Dhaayen Municipality with 10 transactions or 10.3 percent.
Al Wakrah Municipality recorded eight transactions, equivalent to 8.2 percent of the total mortgaged properties, then Um Salal Municipality recorded seven transactions equivalent to 7.2 percent, and Al Khor & Dhakira Municipalities with two transactions, equivalent to 2.1 percent of the total mortgaged properties during the month.
As for the value of mortgages, Doha Municipality came in the lead with a value of QR277,109,031, while Al Shamal Municipality recorded the lowest value amounting to QR2,460,000.
Looking at the indicator of the movement of mortgage transactions by studying the ratio of the number of mortgaged properties to the ratio of their financial value, it is found that the ratio of the number of mortgaged properties is greater than the ratio of the amounts of mortgage transactions in all municipalities that witnessed mortgage transactions, except for Doha Municipality, where it is found that the amounts of mortgage transactions achieved a higher rate compared to the number of mortgage transactions.
Tracking the movement and volume of mortgage transactions that took place during the month of March, it is found that Doha Municipality recorded five of the top 10 mortgaged properties, while Al Rayyan recorded four mortgaged properties and Al Wakrah recorded one mortgage property. The volume of mortgage transactions for the highest (10) properties reached 97 percent of the total value of all mortgage transactions that took place during the month of March.
As for trading in the Pearl and Al Qassar Area, the number of transactions registered during March 2023 increased compared to the number of transactions registered during March 2023, the number of transactions amounted to 54 deals for residential units included in the buying and selling transactions, with a total value of QR120,317,56.
Real estate trading data during the month of Month 2023 reveals that the real estate sector continues to grow steadily and robustly in all investment and commercial fields to continue the movement of active trading in the sector during the recent period, especially with the issuance of new laws and decisions on real estate brokerage, real estate registration, ownership, and usufruct, along with laws that attract local and foreign capital.
These data confirm the strength and solidity of the Qatari economy and the continued growth of the real estate sector as one of its main components.
The trading volume revealed that the highest value of (10) properties sold was recorded for the month of March, recording six properties in Al Rayyan Municipality, four properties in Al Doha Municipality.
As for the volume of mortgage transactions that took place during the month of March 2023, the number of mortgage transactions amounted to 97 transactions, with a total value of QR1,848,122,517.
Al Rayyan Municipality recorded the highest number of mortgage transactions with 35 transactions, equivalent to 36.1 percent of the total number of mortgaged properties, followed by Al Doha with 33 transactions equivalent to 34.0 percent, and Al Dhaayen Municipality with 10 transactions or 10.3 percent.
Al Wakrah Municipality recorded eight transactions, equivalent to 8.2 percent of the total mortgaged properties, then Um Salal Municipality recorded seven transactions equivalent to 7.2 percent, and Al Khor & Dhakira Municipalities with two transactions, equivalent to 2.1 percent of the total mortgaged properties during the month.
As for the value of mortgages, Doha Municipality came in the lead with a value of QR277,109,031, while Al Shamal Municipality recorded the lowest value amounting to QR2,460,000.
