Real Estate Trading Volume Reaches QR1.3bn in February 2024

Doha, Qatar: The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in February amounted to QR1,391,961,588.

The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 350 real estate transactions were recorded during the month. Compared to January 2024, the number of properties sold index recorded a decrease of 3 percent. 

The real estate transactions value index recorded a decline of 27 percent. The traded area index recorded a decrease of 18 percent.

Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in February, according to the real estate market index, followed by Al Wakrah, Umm Salal, Al Shamal, Al Khor and Al Dhakira.

The real estate market index for February revealed that the financial value of Doha municipality’s transactions amounted to QR514,512m. 

The financial value of Al Rayyan municipality’s transactions amounted to QR335,542m, while the financial value of Al Dhaayen municipality’s transactions amounted to QR254,545m. The financial value of Al Wakrah municipality’s transactions amounted to QR 140,091m.

 Umm Salal municipality recorded transactions with a value of QR119,492m, while Al Shamal municipality recorded trading with a value of QR17,021m and Al Khor and Al Dhakira municipality recorded transactions with a value of QR10,754m.

In terms of the traded space index, indicators reveal that Al Rayyan, Al Dhaayen and Al Wakrah municipalities recorded the most active municipalities in terms of traded real estate spaces during February, with 26 percent for Al Rayyan, followed by Al Dhaayen municipality with 23 percent, and Al Wakrah with 18 percent. Doha recorded 17 percent, Umm Salal recorded 11 percent, Al Shamal 3 percent, and Al Khor and Al Dhakira recorded 2 percent of the total traded spaces.

In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during February were Al Rayyan (25 percent) followed by Doha (23 percent), Al Wakrah (20 percent), Al Dhaayen (17 percent), Umm Salal (9 percent), while Al Shamal, Al Khor and Al Dhakira (3 percent) of the total real estate transactions.

Average per square foot prices for February ranged between (469 - 974) in Doha, (212 - 541) in Al Wakrah, (368 - 442) in Al Rayyan, (246 - 570) in Umm Salal, (290 - 534) in Al Dhaayen, (203 - 303) in Al Khor and Al Dhakira, and (132 - 300) in Al Shamal.

The trading volume revealed the highest value of 10 properties sold in February, recording 5 properties in Doha, 2 in each of Al Rayyan and Al Dhaayen, and one property in Umm Salal.

As for the volume of mortgage transactions that took place in February, the number of mortgage transactions amounted to 91 transactions, with a total value of QR3,286,600,373.

Doha recorded the highest number of mortgage transactions with (38) transactions, equivalent to 41.8 percent of the total number of mortgaged properties, Al Rayyan followed with 28 transactions equivalent to 30.8 percent, Al Dhaayen with (12) transactions equivalent to 13.2 percent. 

Also, Umm Salal with (5) transactions equivalent to 5.5 percent, Al Wakrah with (4) transactions equivalent to 4.4 percent, both Al Khor and Al Dhakira with (3) transactions each equivalent to 3.3 percent, and Al Shamal recorded (1) transaction, equivalent to 1.1 percent of the total properties mortgaged during the month.