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Posted On: 20 August 2019 10:16 am
Updated On: 12 November 2020 02:04 pm

Real estate transactions in Qatar exceed QR two billion last July

Khadiza Begum
Khadiza Begum
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The volume of real estate transactions in sales contracts registered with the Real Estate Registration Department at the Ministry of Justice during the month of July of this year reached QR 2.893.745.

Data from the Justice Ministry's analytical bulletin showed that 254 real estate transactions were registered this month.

The transactions included buildings, lands, multi-use spaces and housing.

Compared to last June, the real estate index increased by 53 percent, while the value of real estate transactions index increased by 5 percent.

Doha, Al Rayyan, and Al Daayen municipalities topped the most active trades in terms of financial value, followed by Al Wakrah, Umm Salal, Al Khor, Al Dhakhira and Al Shamal.

In terms of the current area index, data show that Al Rayyan Municipality registered the most active municipalities in the area of real estate transactions during July by about 32 percent, followed by Al Daayen Municipality with 26 percent, Doha Municipality recorded 18 percent, then Al Wakrah Municipality 14 percent, Umm Salal is 6 percent, then Al Khor and Al Dhakhira and Al Shamal 2 percent each.

In terms of the number of transactions (properties sold), trading indicators showed that the most active municipalities in July for the number of properties sold were Al Rayyan Municipality (27 percent), followed by Doha Municipality (26 percent), Al Daayen Municipality (18 percent), and Umm Salal Municipality (13 percent), Al Wakrah municipality (8 percent), and Al Khor, Al Dhakhira and Al Shamal 4 percent each.

The volume of trading revealed the highest value of ten properties sold for the month of July in each of Doha Municipality at the rate of (5) properties, three properties in Al Rayyan Municipality, one property in the municipality of Al Daayen, and one property in Al Wakrah Municipality.

As for the trading activity in the Pearl and Al Qassar area, during the month of July, there was an increase in the trading volume compared to last June. The number of transactions registered is 64 for residential units included in the sale and purchase transactions, with a total value of QR 153.604.507.

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: QNA)