More than QR2.89bn real estate deals recorded in July

Qatar’s real estate market witnessed a continued growth in the month of July 2019, with the total value of monthly transactions reaching at QR2.89bn, official data show.

According to the Ministry of Justice, there were 254 real estate transactions registered in July. Compared to last June, the real estate index increased by 53 percent, while the value of real estate transactions index increased by 5 percent, QNA reported.

The transactions included buildings, lands, multi-use spaces and housing. 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 showed that Al Rayyan Municipality registered as the most active municipality in terms of real estate transactions (32 percent), followed by Al Daayen (26 percent), Doha (18 percent), Al Wakrah (14 percent), Umm Salal (6 percent), and Al Khor, Al Dhakhira and Al Shamal with 2 percent each.

In terms of the number of transactions and properties sold, the most active municipalities were Al Rayyan (27 percent), followed by Doha (26 percent), Al Daayen (18 percent), Umm Salal (13 percent), Al Wakrah (8 percent), and Al Khor, Al Dhakhira and Al Shamal with 4 percent each.

In terms of the volume of trading, the 10 properties with the highest combined value were sold in Doha (five properties), Al Rayyan (three properties), and in Al Daayen and Al Wakrah with one property each.

As for the trading activity in the Pearl and Al Qassar area, there was an increase in the trading volume in July compared to June. There were 64 residential units registered in the sale and purchase transactions with a total value of QR153.604.507.

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 from: The Peninsula