Doha: The volume of real estate trading in the sales contracts registered with the Real Estate Registration Department at the Ministry of Justice reached QR5.96bn during the first quarter of 2020. The first quarter witnessed the registration of 945 real estate deals, QNA reported citing data released by the Ministry.
The municipalities of Doha, Al Wakra and Al Rayyan led the most active trades in terms of financial value, followed by the municipalities of Al Daayen, Umm Salal, Al Khor, Al Thakhira, Al Shamal and Al Shahaniya. As per the real estate market index, Doha municipality recorded real estate transactions with a financial value of QR 2.26bn, followed by Al Wakra municipality with QR 1.5bn.
Real estate transactions in Al Rayyan municipality amounted to QR1.23bn, followed by Al Daayen municipality with QR495m, followed by Umm Salal at about QR 307m, Al Khor and Al Thakhira at QR 135m, Al Shamal at QR19m and Al Shahaniya with QR 2m.
With regard to the indicator of the number of traded deals by municipalities during the first quarter, Doha recorded the highest recorded transactions by 26 percent, followed by Al Rayyan municipality with 24 percent, Al Daayen municipality with 20 percent, and Al Wakra and Umm Salal municipalities with 10 percent each. As Al Khor and Al Thakhira recorded by 8 percent, Al Shamal accounted for 2 percent.
Al Wakra topped the most active municipalities in real estate trading during the first quarter of 2020 by 45 percent, followed by Al Rayyan municipality with 19 percent, Doha municipality 16 percent, Al Daayen municipality with 11 percent, Umm Salal with 5 percent, Al Khor and Al Thakhira with 3 percent and Al Shamal with 1 percent.
The average square foot price during the first quarter ranged between 389-1023 in Doha, 236-377 in Al Wakra, 323-485 in Al Rayyan, 257-481 in Umm Salal, 237-440 in Al Daayen, 199-329 in Al Khor and Al Thakhira, 124-198 in Al Shamal and 167 in Al Shahaniya.
The trading volume revealed the registration of the highest value of ten properties sold in the first quarter of 2020, including 5 properties in the Doha municipality, 3 in the Al Rayyan municipality and two properties Al Rayyan municipality.
The volume of mortgage transactions during the first quarter reached 314 transactions, with a total value of QR17bn. Doha municipality recorded the highest number of mortgage transactions with 130 transactions, equivalent to 41.4 percent of the total number of mortgages, followed by Al Rayyan municipality with 90 transactions, equivalent to 28.7 percent; Al Daayen with 32 transactions or 10.2 percent of the total mortgages. The municipality of Al Wakra recorded 25 mortgage transactions, equivalent to 8 percent, followed by Umm Salal municipality with 24 transactions, equivalent to 7.6 percent, then the Al Khor and Al Thakhira municipality with 13 transaction, equivalent to 4.1 percent of the total number of mortgages.
Doha Municipality recorded 7 of top 10 mortgaged properties deal, while the Al Wakra municipality registered 2 of the total mortgage properties. The volume of mortgage transactions for the top 10 properties amounted to 42 percent of the total value of all mortgage transactions during the first quarter.
The real estate trading data shows that the real estate sector continues its steady growth in various fields of investment and trade, which confirms the growth of strong and active trading activity during the current year, especially with the issuance of new laws and decisions related to real estate sector, real estate registration, as well as attractive laws for domestic and foreign capital.
These data confirm the strength of Qatar’s economy and the continued growth of the real estate sector as one of its key components.
