Doha: Qatar’s real estate sector witnessed deals worth QR4.056bn in the third quarter (Q3) of the year. A total of 1,045 transactions were registered in the country, according to Ministry of Justice data.
The real estate transactions achieved its highest levels during August 2022 with a total value of QR1.535bn. Compared to the third quarter of 2021, the number of real estate index decreased. July 2022 recorded a decrease compared to July 2021 with a total value of QR1.168bn and also September of this year recorded a decrease compared to September 2021, with a total value of QR1.352bn.
The momentum of growth in the country’s real estate sector is likely to get stronger during the year with the FIFA World Cup Qatar 2022 approaching near, the demand for housing units, office spaces, hotel rooms have already begun to rise.
According to the data, the real estate market index revealed during the third quarter of 2022, Doha Municipality followed by Al Rayyan Municipality and then Al Daayen were the most active in terms of financial value, as the financial value of the transactions of the Doha Municipality reached QR1.865bn and Al Rayyan Municipality ranked second with a trading value of 934m. Al Daayen Municipality comes in the third place, with the value of transactions amounting to QR572m.
The most active municipalities during Q3, 2022 in the number of properties sold were Doha Municipality with 31 percent, followed by Al Daayen Municipality with 22 percent, and then Al Rayyan Municipality with 21 percent. While the municipalities that were the most active during the third quarter of 2021 in the number of properties sold were: Al Rayyan Municipality with 28 percent, followed by Doha Municipality and Al Daayen Municipality with 22 percent and 19 percent respectively.
Indicators show that the most active municipalities in the real estate trading during Q3, 2022 according to the area index were Doha and Al Rayyan Municipalities with 26 percent for each of which followed by Al Daayen Municipality with 20 percent of the total area of transactions.
Trading revealed the highest value of 10 properties for Q3, 2022 which recorded 8 properties in Doha Municipality and one in each of Al Rayyan Municipality and Al Daayen Municipality.
The trading movement in The Pearl and Al Kassar area witnessed an increase in trading volume during the Q3, 2022 compared to third quarter of 2021, where the number of deals reached 204 deals for residential units with a total value of QR454m. While it reached 195 deals for residential units with a total value of QR406m during Q3, 2021.
The volume of real estate trading in sales contracts registered with the Real Estate Registration Authentication Department at the Ministry of Justice in September 2022 amounted to QR1.352bn. The data of real estate bulletin showed that 509 real estate deals were registered during the same month, while the index of the number of traded real estate rose by 73 percent, compared to the number of traded real estate during August 2022, while the index of traded spaces recorded an increase of 50 percent.
The municipalities of Doha, Al Dhaayen and Al Rayyan topped the most active trades in terms of financial value during September, followed by the municipalities of Al Wakrah, Umm Slal, Al Khor and Al Dhakira, and Al Shamal in transaction volumes.
The real estate trading data during September 2022 showed that the sector continues to grow steadily and strongly in various investment and commercial fields, continuing the active trading movement within the sector during the recent period, especially with the issuance of new laws and decisions related to real estate brokerage, real estate registration, ownership and usufruct, in addition to the laws attracting local and foreign capital.
