Qatar’s real estate market continues to remain stable and robust despite the economic challenges and ongoing blockade. The combined value of real estate transactions over the first six months of this year (H1 2019) stood at QR10.82bn, which reflects about the stability of the market compared to QR10.81bn for the corresponding period last year.
An analysis in terms of the number of sold properties found, the real estate transactions during the January-June period this year declined by 6 percent compared to the same period last year. During the January-June period (H1 2019), some 1,995 properties were sold against 2,124 deals inked during the same period last year (H1 2018).
However, when compared with the second half of last year (H2 2018), the real estate transactions has shown an increase of nearly 5 percent in H1 2019 compared to 2,026 properties sold (during the July-December period last year), official data compiled by The Peninsula show.
According to Qatar Central Bank’s (QCB) Real Estate Price Index (based on the data issued by the Ministry of Justice (MoJ), the index in June 2019 inched up 3 points to 238.94 from 235.26 in June 2018. When compared to previous month’s index of 233.24 (May 2019), it has increased by more than 5 points in June 2019.
The recently released figures of July this year has also shown that the real estate market has been continuing the growth trend with the total value of monthly transactions reaching at remarkable QR2.89bn.
According to the Ministry of Justice, there were 254 real estate transactions registered in July. Compared to last June, the real estate index grew by 53 percent, while the value of real estate transactions index increased by 5 percent. P14from page 13
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.
Source from: The Peninsula