The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice during May 2023 amounted to QR 1,853,196,466.
The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 337 real estate transactions were recorded during the month, a 115 percent increase compared to last April, while the value of real estate transactions increased by 96 percent, and the index of traded areas increased by 183 percent.
Doha, Al Rayyan and Al Daayen Municipalities topped the most active transactions in terms of financial value during May 2023, according to the real estate market index, followed by Al Wakra and Umm Slal, Al Khor and Dhakira, and Al Shamal Municipalities.
The real estate market index for the month of May revealed that the financial value of Doha Municipality's transactions amounted to QR 743,504,224. The financial value of Al Rayyan Municipality's transactions amounted to QR 544,35,799. The financial value of Al Daayen Municipality's transactions amounted to QR 300,608,887.
The financial value of Al Wakra Municipality's transactions amounted to QR 124,393,421, while the financial value of Umm Slal Municipality's transactions amounted to QR 86,18,585. Al Khor and Al Dhakira Municipalities recorded transactions with a value of QR 28,937,953, and Al Shamal Municipality recorded trading with a value of QR 25,697,597.
In terms of the traded space index, indicators reveal that Al Rayyan, Al Dhaayen and Doha Municipalities recorded the most active municipalities in terms of traded real estate spaces during the month of May, with 36 percent for Al Rayyan Municipality, followed by Al Dhaayen Municipality with 21 percent, Doha with 20 percent, while Al Wakra recorded 9 percent, Umm Slal recorded 7 percent, Al Shamal recorded 4 percent, Al Khor & Dhakira Municipalities recorded 3 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 May were Al Rayyan Municipality (26 percent), followed by Doha Municipality (22 percent), Al Dhaayen Municipality (19 percent), and Al Wakra Municipality (12 percent), Al Shamal Municipality (7 percent), while Al Khor & Dhakira Municipalities recorded (5 percent) of the total real estate transactions.
Average per square foot prices for the month of May ranged between (472-896) in Doha, (262-533) in Al Wakrah, (314-460) in Al Rayyan, (298-437) in Umm Slal, (310-585) in Al Dhaayen, (202-267) in Al Khor and Dhakira, (135-240) in Al Shamal.
The trading volume revealed that the highest value of (10) properties sold was recorded for the month of May, recording 7 properties in Doha Municipality, two properties in Al Dhaayen Municipality and one property in Al Rayyan.
As for the volume of mortgage transactions that took place during the month of May 2023, the number of mortgage transactions amounted to 128 transactions, with a total value of QR 8,811,341,616.
Doha Municipality recorded the highest number of mortgage transactions with 59 transactions, equivalent to 46.1 percent of the total number of mortgaged properties, followed by Al Rayyan Municipality with 38 transactions, equivalent to 29.7 percent of the total number of mortgaged properties, and in Al Dhaayen Municipality with 17 transactions, equivalent to 13.3 percent of the total number of mortgaged properties.
Um Salal, Al Khor & Dhakira Municipalities recorded 5 transactions each, equivalent to 3.9 percent of the total mortgaged properties, Al Wakra Municipality recorded 3 transactions equivalent to 2.3 percent, and Al Shamal Municipality with one transaction, equivalent to 0.8 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 QR 4,807,82,354, while Al Shamal Municipality recorded the lowest value amounting to QR 1,650,000.
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 and Al Dhaayen Municipalities, 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 May, it is found that Doha Municipality recorded 8 of the top 10 mortgaged properties, while Al Rayyan and Al Dhaayen recorded 1 mortgaged property each. The volume of mortgage transactions for the highest 10 properties reached 82 percent of the total value of all mortgage transactions that took place during the month of May.
As for trading in the Pearl and Al Qassar Area, the number of transactions registered during May 2023 reached 67 deals for residential units included in the buying and selling transactions, and with a total value of QR 145,97,703, an increase compared to last April.
Real estate trading data during the month of May 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.
Source: Qatar News Agency
