DOHA: Qatar’s overall real estate transaction value during the first nine months of 2014 rose by 15.2 percent to QR37.2bn, compared to QR32.3bn recorded during the same period a year ago. The total transaction value for third quarter of this year (Q3,14) touched QR11.3bn against QR10.6bn or up 6.6 percent year-on-year.
Al Sharq reported the total volume of real estate transaction during the first quarter of 2014 grew by a whopping 35.2 percent against the same period in 2013. The transaction volume during the second quarter was up by 8.5 percent to QR14bn compared to a year ago period.
During the first nine months of this year, July witnessed significant growth in the transaction value. Total transaction value of the month hit QR6.8bn, up 23.6 percent compared to July 2013. The value during the month of January stood at QR4.8bn, up 71.8 percent a year ago, but the trade value fell to QR2.9bn in February, down 6.5 percent compared to the same month in 2013, before rebounding to QR4.2bn in March, up 44.8 percent during the same month in 2013.
Market watchers forecast that the transaction value of real estate deals in Qatar would jump to more than 20 percent in the run up to the 2022 Fifa World Cup. However, the growing land prices are expected to weigh on the country’s real estate sector, they warned. The week ended October 16, witnessed a total of 119 real estate transactions, Al Arab reported citing property developer Al Asmakh’s report.
“Qatar’s real estate sector is witnessing an exponential growth. The transaction value of the country’s real estate sector is expected to grow by 30 percent by the end of this year,” Al Sharq quoted businessman Mansour Al Mansour as saying. The Peninsula
