Doha, October 19 (QNA) – The volume of real estate trading in sales contracts registered with the Real Estate Registration Authentication Department at the Ministry of Justice in September 2022 amounted to QR 1,352,432,801.
The data of Real Estate Bulletin issued by the Ministry of Justice showed that 509 real estate deals were registered during the same month, while the index of the number of traded real estate rose by 73 percent, compared to the number of traded real estate during August 2022, while the index of traded spaces recorded an increase of 50 percent.
The municipalities of Doha, Al Dhaayen and Al Rayyan topped the most active trades in terms of financial value during September, followed by the municipalities of Al Wakrah, Umm Slal, Al Khor and Al Dhakira, and Al Shamal in transaction volumes.
The financial value of the Doha Municipalitys transactions during the aforementioned month amounted to QR 522,354,369, while the financial value of the transactions of the Al Dhaayen Municipality amounted to QR 295,717,846. The Municipality of Al Rayyans financial value QR 281,918,446, and the transactions of the Al Wakrah municipality of QR 97,538,873. As for the Umm Slal Municipality, it recorded transactions worth QR 71,402,248, and Al Khor and Al Dhakira Municipality recorded transactions worth QR 46,207,135 riyals, as for Al Shamal Municipality, it recorded transactions worth QR 37,239,885.
In terms of the traded spaces index, the indicators showed that the municipalities of Doha, Al Dhaayen and Al Rayyan recorded the most active municipalities for the spaces of traded real estate during the month of September, with a percentage of 29 percent for the Municipality of Doha, followed by the Municipality of Al Dhaayen by 25 percent, and Al Rayyan by 22 percent, while the municipalities of Al Wakrah and Umm Slal recorded 7 percent for each of them, while the Al Shamal Municipality recorded 6 percent of traded areas, with Al Khor and Al Dhakira recording 4 percent of traded areas.
In terms of the index of the number of real estate transactions (real estate sold), trading indicators showed that the most active municipalities in September for the number of properties sold were the Doha Municipality by 40 percent, followed by the two municipalities of Al Dhaayen by 27 percent, followed by Al Rayyan Municipality by 15 percent, then the municipalities of Al Wakrah and Al Khor and Al Dhakira by 5 percent each, and 4 percent for the municipalities of Umm Slal and Al Shamal each.
The average prices per square foot for September ranged between (QR 344 – 856) in Doha, (QR 290 – 440) in Al Wakrah, (QR 302 – 387) in Al Rayyan, (QR 262 – 461) in Umm Slal, and (QR 290 – 581) in Al Dhaayen, (QR 281 – 308) in Al Khor and Al Dhakira, and (QR 143 – 237) in Al Shamal.
The trading volume revealed the highest value of 10 properties sold in September, including 4 properties that were registered in Doha Municipality, and two properties in Umm Slal and Al Wakrah municipalities.
With regard to the volume of mortgage transactions during September 2022, the number of mortgage transactions that took place during the month reached 146, with a total value of QR 3,792,535,884.
The Doha Municipality recorded the highest number of mortgage transactions with 82 transactions, equivalent to 56.2 percent of the total number of mortgaged properties, followed by Al Rayyan Municipality with 34 transactions, equivalent to 23.3 percent of the total number of mortgaged properties. Al Dhaayen Municipality recorded 13 transactions, which is equivalent to 8.9 percent of the total mortgaged properties, then Al Wakrah Municipality with 7 transactions, which is equivalent to 4.8 percent. On the other hand, Umm Slal recorded 6 transactions, equivalent to 4.1 percent, and then Al Shamal Municipality with 4 transactions, equivalent to 2.7 percent of the total number of mortgaged properties.
With regard to the value of mortgages, Doha Municipality came in the forefront with a value of QR 2,746,721,022, while the Al Shamal Municipality recorded the lowest value of QR 7,275,000.
Looking at the movement of mortgage operations indicator 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 is greater than the ratios of the amounts of mortgage transactions, in all areas that witnessed mortgage transactions, except for the municipalities of Doha and Al Dhaayen, where the amounts of mortgage transactions achieved a higher ratio compared to the average number of foreclosures.
By tracking the movement and volume of mortgage transactions that took place during September, the Doha Municipality recorded 8 of the top 10 mortgaged properties, and one property in each of the municipalities of Al Dhaayen and Al Rayyan, with the volume of mortgage transactions for the top 10 properties (72 percent) of the total value of all Mortgage transactions made during the month of September.
With regard to the trading movement in the Pearl and Al Qassar areas, the number of transactions recorded during September reached 78 deals for residential units that were included buying and selling operations, with a total value of QR 165,809,830.
Real estate trading data during the month of September 2022 showed that the real estate sector continues to grow steadily and strongly in various investment and commercial fields, thus continuing the active trading movement within the sector during the recent period, especially with the issuance of new laws and decisions related to real estate brokerage, real estate registration, ownership and usufruct, in addition to the laws attracting local and foreign capital. This data confirms the strength and solidity of the Qatari economy’s foundations, and the continued growth of the real estate sector as one of its main components. (QNA)