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 May 2023 amounted to one billion and 853 million and 196 thousand and 466 riyals.
The data of the real estate analytical bulletin issued by the Ministry of Justice showed that (337) real estate transactions were recorded during the month.. and compared to last April, the index of the number of sold properties increased by 115%, and the index of the value of real estate transactions increased by 96%, while the index of traded areas increased. to reach 183%.
The municipalities of Doha, Al Rayyan and Al Daayen topped the most active transactions in terms of financial value during the month of May, according to the real estate market index, followed by the municipalities of Al Wakra, Umm Salal, Al Khor, Al Thakhira, and Al Shamal in terms of transaction volumes.
The real estate market index for the month of May revealed that the financial value of Doha Municipality’s transactions amounted to 743,504,224 riyals, while the financial value of Al-Rayyan Municipality’s transactions amounted to 544,35,799 riyals, and the financial value of Al-Daayen municipality’s transactions amounted to 300,608,887 riyals.
The financial value of Al-Wakra Municipality’s transactions amounted to 124,393,421 riyals, while the Umm Salal Municipality recorded transactions worth 86,18,585 riyals, Al Khor and Al Thakhira Municipality recorded transactions of 28,937,953 riyals, and Al Shamal Municipality recorded transactions of 25,697,000. And 597 riyals.
In terms of the traded areas index, the indicators show that the municipalities of Al-Rayyan, Al-Daayen and Doha were the most active municipalities during the month of May, with a rate of 36% for the municipality of Al-Rayyan, followed by Al-Daayen municipality with a rate of 21%, and Doha with a rate of 20%, while Al-Wakra municipality recorded transactions with a rate of 9% and Umm Salal. Trades with a value of 7%, Al Shamal 4%, Al Khor and Al Thakhira 3% of the total traded areas.
In terms of the index of the number of real estate transactions (property sold), trading indicators showed that the most active municipality during the month of May for the number of sold properties was Al-Rayyan Municipality by 26%, followed by Doha Municipality by 22%, then Al-Daayen Municipality by 19%, then Al-Wakra Municipality by 12%. Then the Municipality of the North with a rate of 7%, while the Municipality of Al Khor and Al Thakhira recorded 5% of the total real estate transactions.
The average price per square foot for the month of May ranged between (472-896) in Doha, (262-533) in Al-Wakra, (314-460) in Al-Rayyan, (298-437) in Umm Salal, and (310-585). in Al Daayen, and (202-267) in Al Khor and Al Thakhira, and (135-240) in the North.
The trading volume revealed that the highest value of (10) real estate sold for the month of May was recorded, including (7) real estate in Doha municipality, two real estate in Al Daayen municipality, and one real estate in Al Rayyan municipality.
With regard to the volume of mortgage transactions during the month of May, the number of mortgage transactions that took place during the month reached (128) transactions, with a total value of 8 billion 811 million 341 thousand and 616 riyals.
Doha Municipality recorded the highest number of mortgage transactions with (59) transactions, equivalent to 46.1% of the total number of mortgaged properties, followed by Al Rayyan Municipality with (38) transactions, equivalent to 29.7% of the total number of mortgaged properties, then Al Daayen Municipality with ( 17) transactions, which is equivalent to 13.3% of the total mortgaged real estate.
The municipalities of Umm Salal, Al Khor and Al Thakhira recorded (5) transactions each, equivalent to 3.9%, then Al Wakra Municipality (3) transactions, equivalent to 2.3% of the total mortgaged real estate during the month, and finally, Al Shamal Municipality recorded one transaction, equivalent to 0.8%. of the number of mortgaged properties.
With regard to the value of mortgages, Doha Municipality came in the lead with a value of 4,807,82,354 riyals, while the North Municipality recorded the lowest value, amounting to 1,650,000 riyals.
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 the municipality of Doha and Al Daayen, where we find that the amounts of mortgage transactions were achieved A higher percentage compared to the average number of foreclosure transactions.
By tracking the movement and volume of mortgage transactions that took place during the month of May, we find that the Doha municipality recorded (8) of the top (10) mortgaged properties, while the municipalities of Al Rayyan and Al Daayen recorded one mortgaged property each. The volume of mortgage transactions for the top 10 properties amounted to 82% of the total value of all mortgage transactions that took place during the month of May.
With regard to the trading activity in the Pearl and Al Qassar area, the number of transactions recorded during the month of May 2023 increased compared to the number of transactions recorded during April, and the number of transactions reached (67) deals for residential units that were included in the buying and selling operations, with a total value of 145 million and 97 thousand and 703 riyals.
Real estate trading data during the month of May 2023 shows that the real estate sector continues its steady and strong growth in various investment and commercial fields, to continue the movement of active trading in the sector during the recent period, especially with the issuance of new laws and decisions related to real estate brokerage, documentation, ownership and usufruct, along with Laws attracting domestic and foreign capital.
These data also confirm the strength and solidity of the foundations of the Qatari economy and the continued growth of the real estate sector as one of its main components.
