Real Estate Trading Volume Amounts to QR 811.5 Million in April

Qatar

The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in April amounted to QR 811,561,323.

The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 201 real estate transactions were recorded during the month.

Doha, Al Rayyan, and Al Wakrah municipalities topped the most active transactions in terms of financial value in April, 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 April revealed that the financial value of Doha municipality's transactions amounted to QR 282,847,223. The financial value of Al Rayyan municipality's transactions amounted to QR 177,743,736 while the financial value of Al Wakrah municipality's transactions amounted to QR 127,743,736. The financial value of Al Dhaayen municipality's transactions amounted to QR 105,345,939. Umm Salal municipality recorded transactions with a value of QR 69,500,777 million, while and Al Khor and Al Dhakira municipality recorded trading with a value of QR 37,533,791 million, Al Shamal municipality recorded transactions with a value of QR 11,184,685.

In terms of the traded space index, indicators reveal that Al Wakrah, Doha, and Al Rayyan municipalities recorded the most active municipalities in terms of traded real estate spaces during April, with 26 percent for Al Wakrah, followed by Doha and Al Rayyan municipalities with 21 percenteach. Al Dhaayen recorded 13 percent, Umm Salal recorded 10 percent, Al Khor and Al Dhakira recorded 6 percent, and Al Shamal 4 percent, recorded 3 percent of the total traded spaces.

In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during April were Al Rayyan (24 percent) followed by Al Wakrah (22 percent), Doha (16 percent), Al Dhaayen (12 percent), Umm Salal and Al Khor (10 percent) each, and Al Shamal (4 percent), of the total real estate transactions.

Average per square foot prices for April ranged between (436 - 937) in Doha, (219 - 424) in Al Wakrah, (342 - 462) in Al Rayyan, (262 - 474) in Umm Salal, (299 - 623) in Al Dhaayen, (234 - 358) in Al Khor and Al Dhakira, (125 - 273) in Al Shamal.

The trading volume revealed the highest value of 10 properties sold in April, recording 7 properties in Doha, one property in each of Al Rayyan, Al Wakrah, and Al Dhaayen.

As for the volume of mortgage transactions that took place in April, the number of mortgage transactions amounted to 161 transactions, with a total value of QR 4,328,333,972. Umm Salal recorded the highest number of mortgage transactions with (68) transactions, equivalent to 42.2 percent of the total number of mortgaged properties, Doha followed with 50 transactions equivalent to 21.1 percent, Al Rayyan with (27) transactions equivalent to 16.8 percent, Al Dhaayen with (9) transactions equivalent to 5.6 percent, and Al Wakrah and Al Khor and Al Dhakira with (3) transactions each equivalent to 1.9 percent of the total properties mortgaged during the month.

With regard to the value of mortgages, the municipality of Doha came in the lead with a value of QR 3,034,136,416, while Al Shamal recorded the lowest value of QR 2,070,000.

The residential unit trading movement during April reached (33) transactions with a total value of QR 59,607,264.

(QNA)