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 February amounted to two billion and 40 million and 558 thousand and 163 riyals.
The data of the real estate analytical bulletin issued by the Ministry of Justice showed that 382 real estate transactions were recorded during the month of February.
The index of the number of real estate increased by 70 percent compared to January 2023, while the index of the value of real estate transactions increased by 79 percent, and the index of traded areas increased by 51 percent.
The municipalities of Doha, Al-Rayyan and Al-Daayen topped the most active transactions in terms of financial value during February 2023 according to the real estate market index, followed by the municipalities of Al-Wakra, Umm Salal, Al-Khor, Al-Thakhira, and Al-Shamal.
The real estate market index for the month of February revealed that the financial value of Doha municipality transactions amounted to 947,788,289 riyals, while the financial value of Al Rayyan municipality’s transactions amounted to 591,552,282 riyals, and the financial value of Al Daayen municipality’s transactions amounted to 194,611,364 riyals. The financial value of the Al-Wakra Municipality’s transactions amounted to 142,740,491 riyals, while the Umm Salal Municipality recorded transactions of 80,410,439 riyals, and the Municipality of Al Khor and Al Thakhira recorded transactions of 59,605,402 riyals, and the Municipality of Al Shamal recorded transactions of 23,850,000 riyals.
In terms of the traded areas index, the indicators showed that the municipalities of Al-Rayyan, Doha and Al-Wakra recorded the most active municipalities for traded real estate areas during the month of February, with 38 percent for Al-Rayyan municipality, followed by the Doha municipality with 19 percent, Al-Wakra with 17 percent and Al-Daayen with 11 percent, while the municipality recorded Umm Salal trades at 6 percent, Al Khor and Al Thakhira 5 percent, and Al Shamal 4 percent of the total traded areas.
In terms of the index of the number of real estate transactions (real estate sold), the trading indicators showed that the most active municipalities during the month of February for the number of properties sold were the municipalities of Al-Rayyan by 27 percent, followed by Al-Wakra by 24 percent, then the municipalities of Doha and Al-Daayen by 15 percent each, then the municipality of Umm Salal by 8 percent, then the Municipality of Al Khor and Al Thakhira by 7 percent, while the Municipality of the North recorded transactions by 4 percent of the total real estate deals.
The average square foot prices for the month of February ranged between (632 and 1338 riyals) in Doha, (180 and 459) in Al Wakra, (311 and 579) in Al Rayyan, (327 and 453) in Umm Salal, and (324 and 677) in Al Daayen. (206 and 446) in Al Khor and Al Thakhira, and (171 and 369) in the North.
The trading volume revealed that the highest value of (10) real estate sold for the month of February was recorded, which recorded 6 real estate in Doha municipality, and 4 real estate in Al Rayyan municipality.
With regard to the volume of mortgage transactions during the month of February 2023, the number of mortgage transactions that took place during the month reached 92, with a total value of 4,313,659,151 riyals.
The municipalities of Doha and Al Rayyan recorded the highest number of mortgage transactions with 32 transactions, equivalent to 34.8 percent each of the total number of mortgaged properties, followed by the municipalities of Umm Salal, Al Khor and Al Thakhira with 11 transactions, equivalent to 12.0 percent each of the total number of mortgaged properties.
Al Daayen Municipality also recorded 7 transactions, which is equivalent to 10.6 percent of the total mortgaged real estate, then Al Daayen Municipality recorded 5 transactions, which is equivalent to 5.4 percent, then Al Wakra Municipality with one transaction, which is equivalent to 1.1 percent of the total mortgaged properties during the month.
With regard to the value of mortgages, Doha Municipality came in the lead with a value of 3 billion 631 million 400 thousand and 183 riyals, while Al-Wakra Municipality recorded the lowest value amounting to 6 million 963 thousand and 128 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, 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 February, 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 accounted for (83 percent) of the total value of all mortgage transactions that took place during the month.
With regard to the trading activity in the Pearl and Al Qassar area, the number of transactions recorded during the month of February 2023 increased compared to the number of transactions recorded during January 2023, and the number of transactions reached 44 deals for residential units that were included in the buying and selling operations, with a total value of 85,644,819 riyals.
Real estate trading data during the month of February 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, in addition to the 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.
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