Real Estate Trading Volume Amounts to QR 1.2 Billion in May 2024

Doha: The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in May 2024, amounted to QR 1,260,555,145.

The data of the real estate analytical bulletin issued by the Mini…


Doha: The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in May 2024, amounted to QR 1,260,555,145.

The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 322 real estate transactions were recorded during the month, as the number of properties sold index recorded an increase of 60 percent, compared to April 2024, while the value of real estate transactions index recorded an increase of 55 percent, and the index of traded areas recorded an increase of 58 percent.

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

The real estate market index for May 2024, revealed that the financial value of Doha municipality’s transactions amounted to QR 541,272,926. The financial value of Al Rayyan municipality’s trans
actions amounted to QR 295,349,835 while the financial value of Al Wakrah municipality’s transactions amounted to QR 164,512,981. The financial value of Al Dhaayen municipality’s transactions amounted to QR 127,375,075. Umm Salal municipality recorded transactions with a value of QR 86,202,539 million, while and Al Khor and Al Dhakira municipality recorded trading with a value of QR 31,237,539 million, Al Shamal municipality recorded transactions with a value of QR 14,604,250.

In terms of the traded space index, indicators revealed that Al Wakrah, Doha, and Al Rayyan municipalities recorded the most active municipalities, in terms of traded real estate spaces during May, with 34 percent for Doha Municipality, followed by Al Rayyan with 22 percent and and Al Wakrah with 20 percent, with Al Dhaayen recording 11 percent, Umm Salal 6 percent, while Al Khor and Al Dhakira recorded 4 percent, and Al Shamal 3 percent, of the total traded spaces.

In regard to the index of the number of real estate transactions (sol
d properties), trading indices revealed that the most active municipalities during May were Doha with 31 percent followed by Al Rayyan 24 percent, then Al Dhaayen and Al Wakrah with 14 percent for each, with Umm Salal recording traded transactions with 9 percent, and Al Khor and Al Dhakira 5 percent, Al Shamal 3 percent of the total real estate transactions.

An verage per square foot prices for May ranged between (325-734) in Doha, (220-498) in Al Wakrah, (379-419) in Al Rayyan, (288-512) in Umm Salal, (300-583) in Al Dhaayen, (221-293) in Al Khor and Al Dhakira, and (150-292) in Al Shamal.

The trading volume revealed the highest value of 10 properties sold in May, with Doha and Al Rayyan recording 4 properties for each, and two properties in Al Wakrah.

As for the volume of mortgage transactions in May, the number of transactions amounted to 137 transactions, with a total value of QR 6,569,187,356, and Doha recorded the highest number of mortgage transactions with 59 transactions, equivalent to 43.1 percen
t of the total number of mortgaged properties. It was followed by Al Rayyan with 42 transactions, equivalent to 30.7 percent of the total number of mortgaged properties, followed by Umm Salal with 15 transactions equivalent to 10.9 percent of the total number of mortgaged properties, then Al Wakrah and Al Dhaayen with 8 transactions for each, equivalent to 5.8 percent for each, Al Khor and Al Dhakira with 3 transactions, equivalent to 2.2 percent, along with Al Shamal with 2 transactions, equivalent to 1.5 percent of the total number of mortgaged properties during May.

As to the value of mortgages, the municipality of Doha came in the lead with a value of QR 5,483,228,370, with Al Khor and Al Dhakira recording the lowest value of QR 3,238,000.

Considering 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, the ratio of the number of mortgaged properties was greater than the ratio of the amounts of mortgage
transactions in all municipalities that witnessed mortgage transactions except Doha Municipality, where the amounts of mortgage transactions achieved higher ratios compared to the average number of mortgage transactions.

In terms of the movement and volume of mortgage transactions during May, Doha Municipality recorded 8 of the top 10 mortgaged properties, with Al Rayyan recording 2 mortgaged properties, and the volume of mortgage transactions for the top 10 properties reached 83 percent of the total value of all mortgage transactions during May.

Additionally, the residential unit trading movement during May reached 69 transactions with a total value of QR 135,417,078.

Source: Qatar News Agency