DOHA: A villa located at Al Ghanim Al Ateeq under Doha Municipality was sold at the mammoth price of QR29.7m ($8.16m) which was the highest value of all the deals made during the third week of February.
The villa, spread in an area of 2,302 square metres, was sold at the rate of QR12, 900 per square meter, Ezdan Holding Group’s weekly report said yesterday.
While a residential building located at Al Salata Al Jadidah with an area of 1,180 sq metres was sold at QR18m at the rate of QR12,300 per a square meter.
And a plot in Fereej bin Mahmoud with an area of 1,443 sq metres was sold at QR14m at the rate of QR9,700 per a square meter.
Having registered a growth of 15 percent in the number of real estate deals singed during the second week of February, the number declined by 33 percent in the third week (February 17-21) as compared to the second week due to winter holidays.
However, the Report expected that with the real estate investors and developers start implementing new projects, the real estate transactions will recover strength in the coming weeks after the holidays.
“During last week, the real estate sector witnessed a remarkable decline in the transaction on the levels of selling and mortgage regarding the total value of transactions for the second sequent week despite the slight increase of the deals implemented by 15 percent, since they increased to 120 deals in the last week compared to 104 deals in the previous week affected by the season of midyear holydays, which usually witness traveling of a big number of investors and main players in the real estate sector abroad, which have impacted the level of transactions which were weak comparing to the previous week,” the report said.
Ezdan’s weekly report referred to that the transactions of the second week of February, extended from February 17-21, witnessed a decline in the total value of real estate traded, either by selling or mortgages at a rate of 33 percent with a value of QR391.3m compared to QR587.9m in the previous week, according to the weekly Bulletin issued by the Real Estate Registration Department in the Ministry of Justice yesterday. And the value of daily rate of transactions of real estate was about QR78.3m compared to QR147m in the previous week.
In return to the transactions of the week, Doha Municipality ranked first in terms of trading value, reaching QR221.1m compared to QR406.7m in the previous week, with a decline of about 45.6 percent through the implementation of 49 deals compared to 23 in the previous week with an increase ratio of 113 percent, but this increase in number of deals has not been mentioned in the growth of transactions’ value due to absence of grand deals. Doha acquired a ratio of 56.5 percent of the total transactions of the week.
The Peninsula
