The combined value of real estate deals in May 2019 stood at QR1.37bn from a total number of 331 transactions signed across all municipalities, official data show.
The number of real estate transactions in May saw a decline of 7.5 percent compared to 358 deals inked in April 2019. When compared on year-on-year basis, the number of deals has declined by 9.3 percent, according to the latest (65th) edition of Qatar Monthly Statistics released by the Planning and Statistics Authority.
The total value of properties sold, across all municipalities, in May was down by 21.3 percent compared to QR1.75bn in the corresponding month last year (May 2018). When compared on monthly basis, the deal value in May was down by nearly 54 percent compared to QR2.99bn in the previous year (April 2019).
The sharp monthly decline in the total value of sold properties in May 2019 was understandably due to exceptional deals signed in the month of April 2019.
When analysing the geographical distribution of transactions, Doha municipality stood on top both in terms of deal value as well as the number of transactions. The combined value of transactions in the municipality reached QR572.7m from 108 deals) accounting for over 32 percent of the total number of transactions for the month.
With regard to deal value, it accounted for 41.5 percent of the total. The number of transactions in Doha municipality has declined in May by 6.9 percent month-on-month, and 19.4 percent on yearly basis.
In the previous month of April, Doha municipality had bagged over 32 percent of the deal with the combined value reaching at QR1.47bn (from 116 deals) accounting for over 49 percent of the total deal value (Q2.99bn) for the month.
Al Rayyan municipality ranked second, both in terms of the combined value of deals as well as the number of transactions in May 2019. The total value of deals in Al Rayyan area stood at QR312.4 (from 87 deals), accounting for nearly 22.6 percent of the total deal value in May 2019.
Al Rayyan municipality accounted for about 24.4 percent of the total number of transactions (331) signed across all municipalities. Although the number of transactions as well as the total value of deals in Al Rayyan municipality declined in May (both yearly basis as well as month-on-month), but the municipality has maintained its second rank like it did in April 2019.
Al Daayen municipality stood at the third position, both in terms of the number of transactions as well as total deal value. The total value of deals in the municipality reached QR205.9m from 47 deals signed during the month of May, registering a month-on-month increase of 39.2 percent compared to QR147.9m worth of deals struck in April 2019. The municipality accounted for over 14 percent of the total transactions in May 2019.
Source from: The Peninsula