The volume of real estate trading in sales contracts registered with the Real Estate Registration Department at the Ministry of Justice during the month of March amounted to one billion and 236 million and 182 thousand and 539 riyals.
The data of the real estate analytical bulletin issued by the Ministry of Justice showed that (340) real estate transactions were recorded during the month.
The municipalities of Doha, Al Rayyan and Al Wakra topped the most active transactions in terms of financial value during the month of March 2023 according to the real estate market index, followed by the municipalities of Al Daayen, Umm Salal, Al Khor and Al Thakhira, Al Shamal and Al Sheehaniya in terms of transaction volumes. The real estate market index for the month of March revealed that the financial value of Doha Municipality’s transactions amounted to 448,999,730 riyals, while the financial value of Al-Rayyan Municipality’s transactions amounted to 392,404,99 riyals, and the financial value of Al-Wakra Municipality’s transactions amounted to 169,97,935 riyals.
The financial value of Al Daayen Municipality’s transactions amounted to 105,870,936 riyals, while the Umm Salal Municipality recorded transactions worth 64,97,499 riyals, Al Khor and Al Thakhira Municipality recorded transactions of 40,99,207 riyals, and Al Shamal Municipality recorded transactions of 14,781,000. And 223 riyals, and the municipality of Al Sheehaniya recorded transactions worth 850 thousand riyals.
In terms of the traded areas index, the indicators show that the municipalities of Al-Rayyan, Al-Wakra and Doha recorded the most active municipalities in the areas of traded real estate during the month of March, with a rate of 28 percent for each of the municipalities of Al-Rayyan and Al-Wakra, followed by the municipality of Doha with a rate of 20 percent, and Al-Daayen with a rate of 9 percent, while the municipality of Umm recorded Salal trades with 7 percent, Al Khor and Al Thakhira 5 percent, and Al Shamal 3 percent of the total traded areas.
In terms of the index of the number of real estate transactions (properties sold), the trading indicators showed that the most active municipalities during the month of March for the number of properties sold were the municipalities of Doha and Al-Rayyan by 24 percent each, followed by the municipality of Al-Wakra by 23 percent, then the municipality of Al-Daayen by 11 percent, then the municipalities of Umm Salal, Al Khor and Al Thakhira, with 7 percent each, while the Municipality of the North recorded transactions with 4 percent of the total real estate transactions.
The average square foot prices for the month of March ranged between (474-996 riyals) in Doha, (208-445) in Al-Wakra, (391-519) in Al-Rayyan, (234-558) in Umm Salal, and (267-267). 604) in Al Daayen, (227-365) in Al Khor and Al Thakhira, (151-297) in the North, and Al Sheehaniya (106).
The trading volume revealed that the highest value of (10) real estate sold for the month of March was recorded, which recorded (6) real estate in Al-Rayyan municipality, and (4) real estate in Doha municipality.
With regard to the volume of mortgage transactions during the month of March 2023, the number of mortgage transactions that took place during the month reached (97) transactions, with a total value of one billion and 848 million and 122 thousand and 517 riyals.
Al Rayyan Municipality recorded the highest number of mortgage transactions with (35) transactions, equivalent to 36.1 percent of the total number of mortgaged properties, followed by Doha Municipality with (33) transactions, equivalent to 34.0 percent of the total number of mortgaged properties, then Al Daayen Municipality with ( 10) Transactions, which is equivalent to 10.3 percent of the total mortgaged real estate.
Al-Wakra Municipality also recorded (8) transactions, equivalent to 8.2 percent, then the Umm Salal Municipality recorded (7) transactions, equivalent to 7.2 percent of the total mortgaged real estate during the month, and finally the municipalities of Al-Khor, Al-Thakhira and Al-Shamal, with (2) transactions, i.e. Equivalent to 2.1% of the number of mortgaged properties.
With regard to the value of mortgages, the Doha Municipality came in the lead with a value of one billion and 277 million and 109 thousand and 031 riyals, while the Municipality of the North recorded the lowest value, amounting to two million and 460 thousand riyals.
In view of the indicator of the movement of mortgage transactions by studying the ratio of the number of mortgaged properties to the percentage of their financial value, we find that the percentage of the number of mortgaged properties is greater than the percentage of the amounts of mortgage transactions, in all areas that witnessed mortgage transactions except for the municipality of Doha, where we find that the amounts of mortgage transactions achieved a percentage Higher compared to the average number of foreclosure transactions.
By tracking the movement and volume of mortgage transactions that took place during the month of March, we find that Doha Municipality recorded (5) out of the top (10) mortgaged properties, while Al-Rayyan Municipality recorded (4) mortgaged properties, and Al-Wakra Municipality registered one mortgaged property. The volume of mortgage transactions for the top 10 properties amounted to 97 percent of the total value of all mortgage transactions that took place during the month of March.
With regard to the trading activity in the Pearl and Al Qassar area, the number of transactions recorded during the month of March 2023 increased compared to the number of transactions recorded during February, and the number of transactions reached (54) deals for residential units that were included in the buying and selling operations, with a total value of 120 million and 317 thousand and 56 riyals.
Real estate trading data during the month of March 2023 shows that the real estate sector continues its steady and strong growth in various investment and commercial fields, so that the active trading movement witnessed by the sector will continue during the recent period, especially with the issuance of new laws and decisions related to real estate brokerage, documentation, ownership and usufruct. In addition to the laws that attract domestic and foreign capital.
These data also confirm the strength and solidity of the foundations of the Qatari economy and the continued growth of the real estate sector as one of its main components.
Read the Latest World News Today on The Eastern Herald.
