Qatar’s real estate market witnessed a sharp decline in terms of value of deals signed during the third week of November 13-17 . The combined value of transactions during the week touched QR389m, witnessing a sharp decline of about 67 percent compared to QR1.16bn inked during the previous week.
According to Ezdan Real Estate’s latest weekly report , the sharp decline in the value was due to the absence of any exceptional deals (value exceeding over QR100m) singed during the week.
The number of real estate deals implemented during the week also declined to 85, which was down by 4.5 percent compared to 89 deals struck during the previous week. The ready-to-move buildings segment has restored its dominant position, in terms of the number of transactions, against deals for the plot of lands, with 51 transactions, accounting for 67.2 percent of the total number of deals signed during the week.
The total value of transactions for the sale of ready-to-move properties stood at QR261.3m. While the combined value of 34 land plot deals inked during the week touched QR127.7m. The share of land plot deals made during the week accounted for 40 percent of the total implemented deals.
All the municipalities across the country witnessed decline in the number of implemented deals. Doha Municipality topped bagging 48.6 percent of the total number of implemented deals with the total value reaching at QR189.2m. Doha Municipality also topped in terms of the number of deals with 24 deals implemented, followed by Al Rayyan municipality with 22 deals. The daily average value of real estate transactions for the week stood at QR76.9m.
