The volume of real estate trading in sales contracts registered with the Real Estate Registration Department at the Ministry of Justice during the month of April 2023 amounted to 947,280,012 riyals.
The data of the real estate analytical bulletin issued by the Ministry of Justice showed that (157) real estate transactions were recorded during the month.
The municipalities of Al Daayen, Doha, and Al Rayyan topped the most active transactions in terms of financial value during the month of April 2023, according to the real estate market index, followed by the municipalities of Umm Salal, Al Wakra, Al Khor, Al Thakhira, Al Shamal, and Al Sheehaniya in terms of transaction volumes.
The real estate market index for the month of April revealed that the financial value of Al Daayen municipality’s transactions amounted to 395,105,441 riyals, while the financial value of Doha municipality’s transactions amounted to 293,634,148 riyals.
The financial value of Al Rayyan Municipality’s transactions amounted to 157,446,724 riyals, and the financial value of Umm Salal Municipality’s transactions amounted to 48,903,242 riyals, while Al-Wakra Municipality recorded transactions worth 21,755,083 riyals, and Al Khor and Al Thakhira Municipality recorded transactions of 21,702,000. And 100 riyals, and the municipality of the North recorded transactions worth 7 million riyals, and the municipality of Al Sheehaniya recorded transactions worth one million and 733 thousand and 274 riyals.
In terms of the traded areas index, the indicators show that the municipalities of Al Rayyan, Doha and Al Daayen recorded the most active municipalities for traded real estate areas during the month of April, with 30 percent for Al Rayyan Municipality, followed by the Doha Municipality with 25 percent, and Al Daayen with 21 percent, while the Umm Municipality recorded Salal traded 11 percent, Al Shamal 6 percent, Al Wakrah 5 percent, Al Khor and Al Thakhira 4 percent, and Al Shamal 3 percent of the total traded areas.
In terms of the index of the number of real estate deals (real estate sold), trading indicators showed that the most active municipalities during the month of April for the number of properties sold were Doha Municipality by 30 percent, Al Rayyan by 28 percent, then Al Daayen Municipality by 16 percent, then Umm Salal Municipality by 11. Percent, then the municipality of Al-Wakra by 7 per cent, while the municipality of Al-Khor and Al-Thakhira recorded transactions by 6 per cent, and the municipalities of Al-Shamal and Al-Shahaniya by 1 per cent each of the total real estate transactions.
In view of the indicator of the movement of mortgage transactions by studying the ratio of the number of mortgaged properties to the percentage of their financial value, we find that the percentage of the number of mortgaged properties is greater than the percentage of the amounts of mortgage transactions, in all areas that witnessed mortgage transactions except for Al-Wakra Municipality, where we find that the amounts of mortgage transactions achieved a percentage Higher compared to the average number of foreclosure transactions.
By tracking the movement and volume of mortgage transactions that took place during the month of April, we find that Doha Municipality recorded (5) out of the top (10) mortgaged properties, while Al Rayyan Municipality recorded (3) mortgaged properties, and Al Wakra and Al Daayen municipalities registered one mortgaged property each.
The volume of foreclosure transactions for the top 10 properties accounted for 96 percent of the total value of all foreclosure transactions that took place during the month of April.
With regard to the trading activity in the Pearl and Al Qassar area, the number of transactions registered during the month of April (59) for residential units included in the buying and selling operations, with a total value of 114,400,000 and 694 riyals.
Real estate trading data during the month of April 2023 shows that the real estate sector continues its steady and strong growth in various investment and commercial fields, so that the active trading movement that the sector is witnessing during the recent period continues, especially with the issuance of new laws and decisions related to real estate brokerage, documentation, ownership and usufruct, along with Laws that attract domestic and foreign capital. These data also confirm the strength and durability of the foundations of the Qatari economy and the continued growth of the real estate sector as one of its main components.
