Calmness in real estate dealings during Ramadan

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News Desk
  • Update Time : Sunday, April 2, 2023

The report of Al-Asmakh Real Estate Projects Company said: The real estate sector is witnessing during the holy month of Ramadan calm in transactions, as it is one of the most sensitive markets to general conditions.
The report indicated that real estate asset management companies and real estate investors will, during the holy month, arrange their papers again, and take some breaths as a result of the fluctuations that accompanied them due to the increase in supply in some areas, which results in corrective operations in rental values.
The report indicated that despite the calm that will affect the real estate sector and the decrease in buying and selling operations, rental values ​​maintain their levels in many areas, supported by the offers presented by the owner and real estate asset management companies.
The report added: Most of the work of real estate development companies or real estate asset management companies during the holy month will be limited to completing old works, reviewing and completing previous deals, in addition to seizing investment opportunities.
Al-Asmakh’s report said: Many investors see that the current time is an appropriate opportunity to wait and choose the appropriate real estate investment opportunities, whether for purchase or for investment by leasing, especially for real estate investment projects.
Pointing out that the second half of this year will witness a good movement in buying and selling operations, especially in areas of usufruct or freehold ownership for non-Qataris.
Pointing out that any increase in the real estate sector sales index will be a great catalyst for the expected activity of the sector, especially that the Qatari economy is considered strong and cohesive and that the real estate sector is considered one of the safe sectors for investment.

Land prices and transaction values
The report of Al-Asmakh Real Estate Projects Company said that the values ​​​​of real estate transactions witnessed a low performance compared to the previous week, according to the data of the latest bulletin issued by the Real Estate Registration Department at the Ministry of Justice for the week extending from “March 19 to 23 last”, when the number of real estate transactions recorded “80” deals. The report pointed out that the values ​​of real estate transactions exceeded 284.6 million riyals.
The report indicated that the municipalities of Doha and Al-Rayyan maintained great activities in transactions in terms of the number of executed transactions and ranked first and second, respectively. The report indicated that the average number of transactions executed per day amounted to approximately 19 transactions.
In terms of prices per square foot of lands, on which deals were executed during the fourth week of last March, the real estate index of the “Al-Asmakh” company indicated that it witnessed a discrepancy in prices, explaining that the average prices per square foot in Mansoura and Bin Dirham amounted to “1,380” riyals, and it was recorded in Al-Najmah area is 1,320 riyals per square foot, and the average price per square foot in Al-Mamoura area has stabilized at 385 riyals, and the average price per square foot in the old airport area has stabilized at 870 riyals for buildings.
The Al-Asmakh real estate index also indicated that the price per square foot was recorded in the Aziziyah area of ​​365 riyals, and in the Umm Ghuwailina area, the price of 1,350 riyals per square foot was recorded.
The report said: The average price of a square foot was recorded in the Al-Thumama area at a price of “400” riyals per square foot, and the average price of a commercial square foot in Al-Wakra region stabilized at “1,450” riyals, and the average price of a square foot was recorded for both (Al-Wakra / buildings) and ( Al-Wakra / villas), “590” riyals, and “275” riyals, respectively.
The report of Al-Asmakh Real Estate Projects Company said: The average price per square foot in Al-Wukair area recorded a price of 210 riyals. The real estate index of Al-Asmakh Company also indicated that the average price per square foot rose in the northern Muaither area to record “300” riyals, and recorded in the Al-Rayyan area “310” riyals.
Al-Asmakh’s report indicated that the average price of a square foot in Al-Gharrafa region recorded a price of “375” riyals, and the average price of a square-foot width in Al-Kharaitiyat area recorded “380” riyals, and in Al-Laqta area a price of “300” riyals per square foot.
The report added: The average price of a square foot in the Al-Khor area settled at “210” riyals per square foot, and it was recorded in the Al-Kheesah area of ​​“295” riyals, and in the Umm Salal Muhammad area it was recorded at “290” riyals, and in the Umm Salal region it was “260” riyals per square foot. square.

Residential apartments and villas
Returning to the prices of villas and apartments, the report of Al-Asmakh Real Estate Projects Company indicated that the average prices of residential apartments in Lusail for a one-bedroom apartment are 1.1 million riyals, 1.3 million riyals for a two-bedroom apartment, and 1.9 million riyals. For a three-bedroom apartment, the report indicated that prices vary according to the area, area, and location of the apartment in the residential building.
The report also indicated that the average price per square meter in apartments located in the West Bay in Al Muajaji Towers is estimated at “11” thousand riyals, and there are certain data that may raise the price slightly related to “the location of the apartment and the view inside the two towers.”
As for the selling prices of new apartments in the Pearl project, it ranges from 12,000 QR to 22,000 QR per square meter, according to the real estate developer.
In terms of villa prices, Al-Asmakh’s report shows that the prices of villas vary from one region to another. The report said: The average prices of villas in Doha, Al-Thumama, Rawdat Al-Matar and Ain Khaled are estimated at approximately “3.6” million riyals for an area of ​​average size between “400 to 500”. square meters per villa. Pointing out that this price also applies to villas in the areas of Al-Gharrafa, Al-Laqta, Al-Rayyan, Umm Salal and Azghawa for the same previous area.
The report added: The prices of villas decrease as we head north, as the price of a villa in Al Khor and Al Thakhira and its surroundings, for the same area, is approximately 2.2 million riyals.

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