Doha, Qatar — Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023, the emirate’s Real Estate Registration Department data showed.
The data said that a total of 297 real estate transactions were recorded during the month. Doha, Al Rayyan, and Al Wakrak municipalities topped the most active transactions in terms of financial value in August 2023, followed by Umm Slal, Al Dhaayen, Al Shamal, Al Khor and Al Dhakira, and Al Sheehaniya.
The real estate market index for the month of August revealed that the financial value of Doha municipality’s transactions amounted to QR 290 million.
The financial value of Al Rayyan municipality’s transactions amounted to QR 266 million, while the financial value of Al Wakrah municipality’s transactions amounted to QR 191 million.
In terms of the traded space index, indicators reveal that Al Rayyan, Al Wakrah and Doha municipalities recorded the most active municipalities in terms of traded real estate spaces during the month of August, with 27 percent for Al Rayyan, followed by Al Wakrah municipality with 25 percent, Doha with 20 percent. Umm Salal recorded 10 percent of the total traded spaces, Al Dhaayen recorded 9 percent, Al Shamal 6 percent, and Al Khor and Al Dhakira recorded 3 percent.
In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during the month of August were Al Rayyan (30 percent) followed by Doha (19 percent), Al Wakrah (14 percent), Umm Salal (13 percent) AL Dhaayen (12 percent), Al Khor and Al Dhakira and Al Shamal recorded (6 percent) each.
Of the 10 most expensive properties sold in the month, Doha accounted for seven and Al Rayyan, Al Wakrah and Umm Salal one each.
The number of mortgage transactions amounted to 85 transactions, with a total value of QR 3.38 billion.
Doha recorded the highest number of mortgage transactions with (38) transactions, equivalent to 44.7 percent of the total number of mortgaged properties, followed by Al Dhaayen and Umm Salal with 10 transactions each equivalent to 11.8 percent, Al Wakrah with six transactions (7.1 percent), and Al Khor and Al Dhakira with two transactions (2.4 percent).
Real estate trading data during the month of August 2023 reveals that the real estate sector continues to grow steadily and robustly in all investment and commercial fields to continue the movement of active trading in the sector during the recent period, especially with the issuance of new laws and decisions on real estate brokerage, real estate registration, ownership, and usufruct, along with laws that attract local and foreign capital.