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Posted On: 6 July 2020 09:52 am

Real estate trading value exceeds QR 3.8 billion in June

Khadiza Begum
Khadiza Begum
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Real-estate

The trading volume of registered real estate in June 2020 at the Ministry of Justice's real estate registration department stood at QR 3,815,705,365.

The data of the analytical real estate bulletin issued by the Ministry of Justice showed 456 real estate transactions were recorded during June. The municipalities of Doha, Al Rayyan and Al Daayen were the most active trades in terms of financial value, followed by the municipalities of Umm Salal, Al Wakra, Al Khor, Al Thakhira, Al Shamal, and Al Shahaniya.

The value of the transactions of Doha municipality amounted to QR 2,810,635,713, while that of Al Rayyan municipality was QR 406,753,403. The value of Al Daayen municipality transactions amounted to QR 368,048,756, while that of the municipality of Umm Salal was QR 87,006,533, and that of Al Wakra municipality stood at QR 64,890,431.

The municipality of Al Khor and Al Thakhira recorded trading amounting to QR 44,492,125, while that of Al Shamal municipality reached QR 32,808,239 and that of the municipality of Al Shahaniya reached QR 875 million.

In terms of the traded area index, indicators showed that the municipalities of Doha, Al Daayen and Al Rayyan were the most active municipalities in the areas of real estate traded during June 2020, at about 33 percent in Doha, by Al Daayen municipality by 28 percent and Al Rayyan municipality at 19 percent, followed by Al Wakra municipality by 6 percent, Umm Salal and Al Khor municipalities by 5percent each and Al Thakhira municipality by 4 percent.

Regarding the number of transactions index (sold real estate), trading indicators showed that the most active municipalities during June 2020 are Al Daayen municipality with 32 percent, followed by Doha municipality by 25 percent, Al Rayyan municipality by 17 percent, Umm Salal municipality by 8 percent, Al Wakra Municipality by 7 percent, Al Samal municipality with 5 percent and Al Khor and Al Thakhira municipality by 5 percent

The average price per square foot for June 2020 ranged between QR440-1,284 in Doha, 239-353 in Al Wakra, 354-473 in Al Rayyan, 289-484 in Umm Salal, 299-411 in Al Daayen, 204-288 in Al Khor and Al Thakhira, 139-249 in Al Shamal, and 124 in Al Shahaniya.

The trading volume revealed the registration of the highest value of ten properties sold for June 2020, including 9 properties in the Doha municipality and one in the Al Rayyan municipality.

The volume of mortgage transactions that took place in June 2020 reached 52 transactions, with a total value of QR 2,327,817,518.

Al Rayyan municipality recorded the highest number of mortgage transactions with 22 transactions, equivalent to 42.3 percent of the total number of mortgages, followed by Doha municipality with 14 transactions, equivalent to 26.9 percent, Al Daayen with 9 transactions, equivalent to 17.3 percent, Umm Salal municipality with 4 transactions, equivalent to 7.7 percent and Al Wakra, with 3 transactions, equivalent to 5.8 percent of the total number of mortgages.

The real estate trading data shows that the real estate sector continues its steady growth in various fields of investment and trade, which confirms the growth of strong and active trading activity during the current year, especially with the issuance of new laws and decisions related to real estate sector, real estate registration, as well as attractive laws for domestic and foreign capital.

These data confirm the strength of Qatar's economy and the continued growth of the real estate sector as one of its key components.

(Source: Qatar News Agency - QNA)