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Qatar: Realty deals cross $961mln in Q3

Story Highlights
  • The real estate transactions achieved the highest levels during July 2023 with a total value of $425mln

Qatar: Realty deals cross $961mln in Q3

Doha, Qatar: Qatar’s real estate sector witnessed deals worth QR3.597bn in the third quarter (Q3) of the year. A total of 855 transactions were registered in the country, according to Ministry of Justice data.

The real estate transactions achieved the highest levels during July 2023 with a total value of QR1.548bn and compared to the third quarter of 2022, the number of real estate index recorded increased. In August 2023 it recorded a decrease compared to the same period last year with a total value of QR1.011bn and also September of this year recorded a decline compared to September 2022, with a total value of QR1.037bn.

According to the official data, the real estate market index revealed during the third quarter of 2023, Doha Municipality followed by Al Rayyan Municipality and then Al Dhaayen were the most active in terms of financial value, as the financial value of the transactions of the Doha Municipality reached QR1.444bn and Al Rayyan Municipality ranked second with a trading value of QR969m. Al Wakra Municipality comes in the third place, with the value of transactions amounting to QR411m.

The most active municipalities during Q3, 2023 in the number of properties sold were Al Rayyan Municipality with 30 percent, followed by Doha and Al Dhaayen Municipality with 23 percent and 16 percent respectively. While the municipalities that were the most active during the second quarter of 2022 in the number of properties sold were Doha Municipality with 31 percent followed by Al Daayen and Al Rayyan Municipality with 22 percent and 21 percent respectively.

Indices show that the most active municipalities in the real estate trading during Q3, 2023 according to the area index were Al Rayyan Municipality with 33 percent followed by Doha and Al Wakrah Municipalities accounted for 21 percent each.

Trading revealed the highest value of 10 properties for Q3, 2023 which recorded 5 properties in Doha Municipality, 3 properties in Al Rayyan Municipality and 2 properties in Al Wakrah Municipality.

The tracking of the mortgage activity and transaction volume that occurred during the third quarter of 2023 it was found that Doha Municipality recorded six of the top ten mortgaged properties. Meanwhile, the Municipality of Al Rayyan recorded three properties and the Al Daayen recorded one mortgaged property.

The volume of mortgage transactions for the top 10 real estate reached 54 percent of the total value of the whole mortgage transactions that were processed during the third quarter of 2023.

The trading movement in The Pearl and Al Qassar areas witnessed an increase in trading volume during Q3, 2023 compared to the third quarter of 2022. The number of deals reached 353 for residential units with a total value of QR624m. While the number of transactions for reached 204 deals for residential units with a total value of Q454m during Q3, 2022.

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Source
Zawya.com

Gulf Estate Gazette

Gulf Estate Gazette is a leading source for comprehensive insights into the dynamic real estate landscape of the GCC and MENA region. Our platform is dedicated to providing valuable information and perspectives for individuals, investors, and industry professionals. With a passionate team and an unwavering commitment to excellence, we aim to empower our audience with the knowledge and opportunities needed to thrive in the ever-evolving world of real estate in the Gulf and beyond.

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