Qatar's Real Estate Trading Volume QR 1.74 Billion in October

Doha, November 19 (QNA) - The volume of real estate transactions in the sales contracts registered with the Ministry of Justice's real estate registration department during the month of last October, amounted to QR 1, 748,095,572. Data of the Real Estate Analytical Bulletin issued by the planning and quality department at the Ministry showed the registration of 332 real estate transactions during the month. Trading included buildings and multi-use and housing land spaces. In comparison to September 2018, the index of trading value increased by 33 percent, while the percentage of traded space increased by 22 percent. Doha, Al Rayyan, Al Daayen, Umm Salal municipalities topped the list in terms of financial value, followed by the volume of deals in the municipalities of Al Wakra, Al Khor, Al Thakhira and Al Shamal. The financial value of the transactions of Doha Municipality amounted to QR 760,003,866, while the financial value of the transactions of Al Rayan Municipality amounted to QR 469,369,870. In addition, the financial value of the transactions of Al Daayen QR 232,082,449 and Umm Salal registered QR 118,432,443, and Al Wakra registered QR 115,411,930. The financial value of the transactions of Al Khor and Al Thakhira amounted to QR 40,205,079 and Al Shamal registered QR 12,590,930. In terms of the volume index, the indicators show that Al Rayyan Municipality registered the most active in October with 31 percent, followed by Doha with 24 percent, Al Daayen 18 percent, Umm Salal Municipality 11 percent, Al Wakra by 10 percent, Al Khor and Al Thakhira by 4 percent and Al Shamal Municipality by 2 percent. In terms of the number of real estate transactions sold, the trading indicators showed that the most active municipalities during the month of October for the number of properties sold per municipality was Al Rayyan by 25 percent, followed by Doha by 21 percent, then Municipality of Al Daayen by 20 percent, Umm Salal by 12 percent, Al Wakra by 11 percent, Al Khor and Al Thakhira by 8 percent, and finally Al Shamal by 3 percent. The average square foot prices for the month of October ranged between 580-1115 in Doha, 262-417 in Wakra, 302-491 in Al Rayyan, 273-449 in Umm Salal, 250-459 in Al Daayen and 205-305 in Al Khor and Al Thakhira and 130-292 in Al Shamal. In terms of mortgage trading during the month of October 2018, the volume of mortgage transactions during the month was 262 transactions, with a total value of QR 8,750,811,794. Doha registered the highest number of mortgage transactions with 111, equivalent to 42.4 percent of the total number of mortgaged properties, followed by the Al Shamal with 50 transactions, representing 19.1 percent. Followed by Al Rayyan with 40 transactions, representing 15.3 percent of the total mortgaged properties, and Al Khor and Al Thakhira with 22 transactions, equivalent to 8.4 percent of the total number of mortgaged properties. Municipality of Al Daayen with 20 transactions, equivalent to 7.6 percent of the total number of mortgaged properties, Al Wakra with 8 transactions, or 3.1 percent, and finally Al-Shahaniya with one transaction, which is 0.4 percent. Following the movement and volume of foreclosure transactions carried out during October, Doha Municipality registered the top 9 mortgage properties, while Al Rayyan Municipality registered one property. Mortgage transactions for the top 10 properties accounted for 72 percent of the total value of all mortgage transactions made during October. In terms of trading turnover in the Pearl and Al Gassar area, it recorded a rise in comparison with September in the number of deals registered 54 transactions for residential units, which amounted to QR 113,070,897. The real estate data show that during October, the real estate sector continued its active growth in various fields of investment and trade, which confirms the growth of strong and active trading movement in 2018, especially with the issuance of laws and new draft laws relating to real estate brokerage and real estate registration of domestic and foreign capital. These data confirm the strength of the Qatari economy and the continued growth of the real estate sector as one of its key components. (QNA)