Doha: Qatar’s real estate market witnessed a slight decline last week as total transactions for the third week of June stood at QR811.8m compared to QR888.2m the previous week, down 8.6 percent, according to Ezdan Weekly Report.
However, the number of transactions increased during June 15-19 to 154 from 145.
The report said the average daily value of transactions amounted to about QR162.4m compared to QR177.6m the previous week.
Doha Municipality ranked first in terms of the value of transactions, with deals worth QR468.4m compared to QR319.3m — up 47 percent — with 32 transactions compared to 25 the previous week.
Topping the deals was the sale of a 1,551sqm plot in Al Sadd, at the rate of QR113,000 per sqm, fetching QR175m.
The report predicted that transactions will see a rise in the coming weeks, especially in the land lots sector as investors and developers are directed towards the establishment of more real estate projects.
Land lots transactions dominated the deals with 79.8 percent of the total in the municipality — QR374m — while other real estate deals represented 20.2 percent and were worth QR94.4m.
Al Rayyan Municipality ranked second in terms of trading value — QR105.9m compared to QR283.7m the previous week, down 46 percent, acquiring 0.9 percent of total transactions, with 30 deals.
The highest deal was worth QR10.5m, through the sale of a villa in Maamoura. The 443sqm area fetched QR23,700 per Sqm.
Al Wakrah Municipality ranked third in terms of real estate value traded worth QR79m through 21 deals, representing 9.7 percent of overall deals, down 16 percent from the previous week.
Al Daayen Municipality came in the fourth place, with transactions worth QR61.3m.
In Al Daayen, land deals acquired 96.4 percent of transactions worth QR59.1m, while other deals involved QR2.2m.
Umm Salal Municipality came in fifth place in terms of transactions worth QR57.3m, representing 7.1 percent of total deals, through implementation of 21 deals, down 20.4 percent from the previous week.
Al Khor and Al Thakheerah Municipality came sixth in terms of transactions worth QR32.5m, up 29 percent compared to the last week.
Al Shamal Municipality came last in terms of transactions worth QR7.6m, with five deals, down 46 percent from the previous week. The Peninsula
