Real estate trading volume reached QR32.7bn in 2017
12 Jan 2018 - 0:28
DOHA: Qatar’s real sector showed robust performance last year and emergent resilient in 2017. The volume of real estate transactions amounted to QR32.7bn last year, according to the annual bulletin of the sales contracts.
The movement of real estate trading recorded 3,988 real estate transactions during the year, showing an increase of about 119 percent compared to trading in 2016, QNA reported. The Ministry of Justice has issued the annual bulletin of the sales contracts registered in the Ministry’s Real Estate Registration Department in 2017.
Meanwhile, the trading volume of registered real estate between December 31 to January 4 at the real estate registration department stood at QR171m. The department’s weekly report said that the trading included empty lands, residential units and residential buildings. Most of the trading took place in Al Wakrah, Doha, Al Rayyan, Um Salal, Al Daayen, Al Khor and Al Thakhira
The annual bulletin showed that October 2017 was the highest in terms of trading value, which amounted to 580 transactions worth QR6.5bn. January recorded 414 transactions amounting to QR3. 4bn.
In August, the ministry registered 340 transactions worth QR3.8bn, while the number of transactions registered in April was 340 amounted to QR2.4bn.
In May the number of transactions registered was 411 worth QR3.03bn, followed by November which registered 396 transactions worth QR2.5bn; March which a total of 382 transactions were registered with a value of QR2.4bn. February registered 289 transactions worth QR1.6bn. In July, the Ministry registered transactions amounting to 238 worth QR1.8bn, while in December it registered transactions 261 worth QR1.8bn.
In September, the number of transactions registered was 211 amounting to QR716.9m, followed by June with transactions was 135 worth QR3.5m.
The Municipality of Doha recorded the highest real estate transactions at the municipal level during 2017, with 1084 transactions representing 27 percent of the total number of real estate transactions.
Al-Rayyan Municipality came second with 999 transactions, representing 25 percent of the total number of real estate transactions, followed by Al-Daayen Municipality with 609 transactions, or 15 percent of the total number of properties.
Regarding the number of properties traded during the year 2017, the bulletin showed the trading of 1084 properties in Doha, 999 properties in Al-Rayyan, 609 in Al-Daayen, 505 in Umm Salal, 388 in Al-Wakrah, 265 in Al-Khor and Al-Dhakhira, and 138 in Al-Shamal.
The real estate sector in Qatar is witnessing significant growth and expansion in various sectors, both in terms of direct investment through buying and selling, and through the construction processes in various areas of the country, especially with regard to major real estate and infrastructure projects.
The total value of the annual trading in 2017 reflects the attractiveness of real estate investment driven by overall economic growth and good indicators of continued growth at higher rates in 2018.