File photo used for representation only.
Qatar’s real estate sector witnessed signing of deals worth over QR2.03bn in June this year, according to the Real Estate Bulletin released by the Ministry of Justice. The real sector was abuzz with deal making last month as 520 transactions were completed in June, compared to 321 transactions in May this year, reflecting a rise of 62 percent.
The number of deals taking place in real estate sector demonstrates the growing trust of global and domestic investors on country’s robust economy.
In terms of value to deals, municipalities of Al Rayyan, Doha and Al Daayen came at the top during June. Al Rayyan municipality witnessed deals worth over QR662m, Doha Municipality recorded deals worth over QR532m while Al Daayen municipality registered deals worth over QR446m during last month.
With regard to the volume of mortgage transactions during June 2021, the number of mortgage transactions that took place during the month reached 137, with a total value of QR5.35bn. Al Rayyan Municipality recorded the highest number of mortgage transactions with 46 transactions, constituting 33.6 percent of the total number of mortgaged real estate, followed by Doha Municipality with 41 transactions.
Al Daayen municipality came at the top in terms of number of deals as it accounted for 28 percent of total deals, while Al Rayyan came second having share of 23 percent in total number of deals.
In terms of top 10 most expensive deals, Al Rayyan Municipality witnessed 5 high value deals, Doha Municipality saw 4 such deals while Al Daayen municipality witnessed 1 high value deal during June.
Regarding the deal making in the Pearl and Al Qassar area, the number of deals recorded during June reached 107 for residential units that were included in the buying and selling operations, with a total value of QR214.5m, during June.
Qatar’s real estate market has maintained positive movement in the past few months. Country’s real estate sector witnessed deals worth over QR1.99bn in April compared to QR2.57bn in March.
