September real estate deal value reaches QR1.47bn

DOHA:  The total value of monthly real estate transactions reached about QR1.47bn during September 2019 while the real estate index recorded a rise of 151 percent compared to August, according to official data.

Data of the Real Estate Analytical Bulletin issued by the Ministry of Justice for September showed that 407 real estate transactions were registered, including multi-use buildings and land, mostly commercial and investment properties. The volume of transactions rose by 47 percent this month compared to August, reports QNA.

The municipalities of Doha, Al Dhaayin, and Al Rayyan topped the most active trading in terms of deal value, followed by the municipalities of Umm Salal, Al Wakra, Al Khor, Al Dhakhira and Al Shamal.

During the month of September, the volume of mortgage transactions was 106 deals with a total value of more than QR502.80m (to be exact QR502,802,145).

Regarding the volume of mortgage transactions in September, the ratio of the number of mortgaged properties exceeded the percentage of mortgage transactions, in all municipalities except Doha municipality, where mortgage transactions accounted for a higher percentage than the mortgage rate. The mortgage transactions for the top 10 properties accounted for 92 percent of the total value of all mortgage transactions made during September.

According to the official data, the trading turnover in the Pearl and Qassar in September, recorded 67 transactions for the residential units which were sold and bought, with a total value of over QR147.24m (QR147,247,814).

It also shows that the real estate sector continues to grow actively in its various investment and commercial fields, as well as its activity with a strong trading movement on sound bases, also confirms its continued vitality, especially with the issuance of new laws and draft laws relating to real estate and real estate registration.

Source from: The Peninsula