Real estate transaction value declines in the first week of New Year

January 10, 2013 - 6:38:53 am

DOHA: The first week of the New Year saw a decline in the real estate transaction value. Compared to the last week of December 2012, the first week of January 2013 saw a decline of 22 percent in terms of total value, despite growth in the number of transactions at a ratio of 4.6 percent..

Ezdan’s weekly report said that the absence of exceptional grand transactions has got a negative impact on the total size of this week’s transactions especially in Doha, which witnessed a remarkable decline in the value of the transactions.

Doha Municipality ranked first in terms of trading value, reaching QR298.1m compared to QR502.5m in the previous week, with a  decline of about 40.6 percent. 

Al Rayyan Municipality stood second in terms of transactions value. The value of transactions in Al Rayyan Municipality was QR75.3m acquiring 12.9percent of the total transactions of the week.

The price of the top deal in Al Rayyan was QR25m. Umm Salal Municipality’s transaction value stood QR72mn, while Al Wakra’s value stood  QR54.2m.

The report noted that the biggest deal of the week was the sale of a plot in Al Merqab area of Doha Municipality with a value of QR130m. The Peninsula