15 June 2022

More than QR 1.353 Billion in Real Estate Trading During May

Local
  • QNA_IMMOBILIER-QATAR_19-01-2022

Doha, June 15 (QNA) - Real estate trading In sales contracts registered with the Real Estate Registrations Department at the Ministry of Justice during May QR 1,353,345,610.
According to Real Estate Newsletter issued by the Ministry of Justice, 356 real estate deals were made during the same month while the index of the number of real estate increased by 8%, compared to April 2022.
Municipalities of Doha, Al Rayyan, Al Da'ayen came at the top of the most active trading in terms of financial value during March 2022 according to the real estate index. Municipalities Umm Slal, Al Wakrah, Al Khor, Al Zakhira, Al Shammal and Al Sheehaniya followed in terms of deals size.
The real estate market index for May revealed that the real estate financial transactions for Doha municipality reached QR 490,169,297, Al Rayyan municipality QR 462,861,722, Al Da'ayen municipality QR 180,291,231, Umm Slal municipality QR 114,562,117, Al Wakrah municipality QR 69,837,476, Al Khor and Al Zakhira municipalities QR 17,048,241, Al Shammal municipality 16,675,466, Al Sheehaniya municipality QR 1,900,000.
In terms of traded real estate areas index, the indications show that the municipalities of Al Rayyan, Doha and Al Da'ayen, recorded the most active municipalities for the areas of traded real estate during May. Al Rayyan municipality recorded 32 percent, Doha municipality 23 percent, Al Da'ayen18 percent and Umm Slal municipality 14 percent. While Al Wakrah municipality recorded 8 percent, Al Shammal municipality 3 percent, Al Khor and Al Zakhira municipalities 2% from the total traded real estate areas.
In terms of real estate deals number (sold real estates) the indications showed that the most active municipalities in terms of sold real estates during may were Al Rayyan municipality 26 percent, Doha municipality 25 percent, Al Da'ayen municipality 17%, Umm Slal municipality 17%, Al Wakrah municipality 8 percent, Al Shammal municipality 4% while Al Khor and Al Zakhira municipalities reached 3 percent.
In terms of mortgage real estate deals transactions during May 2022, the number of mortgage real estate deals reached (77) transactions with a total amount of QR 8,382,512,073.
Doha Municipality recorded the highest number of mortgage real estate deals with (31) transaction representing (40.3) percent of the total mortgage real estate, Al Rayyan municipality (18) transactions representing (23.4) percent of the total mortgage real estate, Al Da'ayen municipality (9) transactions representing (11.7) percent of the total mortgage real estate, Al Wakrah municipality (8) transactions representing (10.4) percent of the total mortgage real estate, Umm Slal municipality (5) transactions representing (6.5) percent of the total mortgage real estate, Al Khor and Al Zakhira municipalities represent (3.9) percent of the total mortgage real estate as for each municipality.
In terms of mortgage value on real estate deals Al Rayyan municipality came in the lead with a value of QR 6,668,136,996 while Al Khor and Al Zakhira municipalities recorded the lowest value of QR 2,750,000 Looking at mortgage operations indicator by studying the proportion of the number of mortgaged real estate to the proportion of their financial value, the proportion of the number of mortgaged properties is greater than the proportion of the amount of mortgage transactions in all municipalities that had mortgage real estate deals transactions except for Al Rayyan municipality as the amounts of mortgage transactions achieved a higher proportion compared to the average number of mortgage transactions.
Tracking the size and amount of mortgage real estate deals that took place during May we find that Doha municipality recorded (6) out of top (10) mortgaged real estates, While Al Rayyan recorded (4) real estates. The volume of mortgage transactions for the top 10 properties reached (96 percent) of the total value of all mortgage transactions that took place during the month of May.
As for the trading movement in the Pearl and Al-Qassar area, the number of deals recorded during May reached (48) deals for residential units included in the buying and selling operations, with a total value of QR 91,895,643.
Real estate trading data during May 2022 show that the real estate sector continues to grow steadily and strongly in various investment and commercial fields, thus continuing the active trading movement witnessed by this sector during the recent period, especially with the issuance of new laws and decisions related to real estate brokerage, real estate registration, ownership and usufruct, in addition to attractive laws of domestic and foreign capital. These data confirm the strength of the Qatari economy, and the continued growth of the real estate sector as one of its main components. (QNA)

Keywords

Economy, Qatar
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