Real estate market sees solid pickup: Ezdan

DOHA: The World Cup tournament venue projects are positively impacting the picking up of the real estate market in the State of Qatar, amid a population growth that lifts up demand on properties, Ezdan Real Estate Research’s weekly report has revealed.

Citing the Planning and Statistics Authority data for the month of October, the Ezdan Real Estate Research noted an annual increase of 0.3 percent in population is reckoned, the total population in the country grew to 2.75 million people in October, from 2.74 million as per the census in an earlier year period.

Qatar is witnessing successive developments in an accelerating pace in delivering construction projects of roads, bridges, tunnels, transportation, metro works, sports facilities and stadiums, triggering a boom of the real estate market movement recently, and it is expected to record more activity during the next few years.

As for the real estate trading volume and sales volume recorded during the period from 24 to 28 November 2019, the Real Estate Registration Department at the Ministry of Justice has registered 76 real estate sales worth a total value of approximately QR796.3m distributed over 7 municipalities are namely; the municipality of Umm Salal, Al Khor, Al Dhakhira, Doha, Al Rayyan, Al Shamal, Al Dhayen and Al Wakra which included lands plots, housing, multi-use building, mixed use lands, residential buildings, complexes, residential towers, and commercial buildings.

Doha seized the highest transaction in terms of value through the sale of a plot of mixed use land in Fereej bin Mahmoud which amounted to QR48.75m spreading over an area of 3250 square meters at a price of QR1413 per meter square. This week hasn’t witnessed any exceptional real estate sales to trigger a raise in the total value of sales.

Doha Municipality ranked second in terms of the largest real estate deal accounting for a total of QR30m for a house in the Pearl area of 1760 square meters at a price of QR1582 per square foot. Meanwhile Al Shamal Municipality signaled only one deal. However, the lowest value recorded in Al Ruwais region for a land plot of 360 square meters with a steep average price at QR140, totaling QR542.000.

Source from: MERatings