Real Estate Trading Volume Exceeds QR 1.1 Billion in July 2024

Doha: The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in July 2024, amounted to QR 1,105,135,825. The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 246 real estate transactions were recorded during the month, as the number of properties sold index recorded an increase of 26 percent. Doha, Al Rayyan, and Al Wakrah municipalities topped the most active transactions in terms of financial value in June, according to the real estate market index, followed by Al Dhaayen, Umm Salal, Al Khor and Al Dhakira, and Al Shamal. The real estate market index for July 2024, revealed that the financial value of Doha municipality's transactions amounted to QR 501,422,408. The financial value of Al Rayyan municipality's transactions amounted to QR 284,996,956, while the financial value of Al Dhaayen municipality's transactions amounted to QR 95,205,566. The financial value of Um Salal municipali ty's transactions amounted to QR 80,367,157. The financial value of Al Khor and Al Dhakira municipality's transactions amounted to QR 23,668,952, while Al Shamal municipality recorded transactions with a value of QR 9,647,598 million. In terms of the traded space index, indicators revealed that Doha, Al Rayyan, and Al Wakrah municipalities recorded the most active municipalities, in terms of traded real estate spaces during July 2024, with 30 percent for Doha municipality, followed by Al Rayyan municipality with 26 percent, and Al Wakrah with 16 percent. Al Dhaayen municipality recorded tradings with 14 percent, Um Salal with 9 percent, Al Khor and Al Dhakira recorded 3 percent, while Al Shamal municipality recorded 2 percent of the total traded spaces. Concerning the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during July were Doha with 29 percent, followed by Al Rayyan with 24 percent, then Al Wakrah with 19 percent. Al Dh aayen recorded traded transactions with 13 percent, Um Salal with 7 percent, Al Khor and Al Dhakira with 5 percent, and Al Shamal with 3 percent of the total real estate transactions. An average per square foot prices for July ranged between (384-834) in Doha, (258-417) in Al Wakrah, (335-455) in Al Rayyan, (258-483) in Umm Salal, (271-456) in Al Dhaayen, (233-338) in Al Khor and Al Dhakira, and (141-297) in Al Shamal. The trading volume revealed the highest value of 10 properties sold in July with Doha recording 5 properties, three properties in Al Rayyan, and one property in Umm Salal and Al Dhaayen. As for the volume of mortgage transactions in July, the number of transactions amounted to 193 transactions, with a total value of QR 6,537,798,004. Doha recorded the highest number of mortgage transactions with 122 transactions, equivalent to 63.2 percent of the total number of mortgaged properties, followed by Al Rayyan with 37 transactions, equivalent to 19.2 percent of the total number of mortgaged prop erties, followed by Um Salal with 13 transactions equivalent to 6.7 percent of the total number of mortgaged properties, then Al Wakrah with 9 transactions, equivalent to 4.7 percent, Al Dhaayen with 8 transactions, equivalent to 4.1 percent, along with Al Khor and Al Dhakira with 4 transactions, equivalent to 2.1 percent of the total number of mortgaged properties during July. As to the value of mortgages, the municipality of Doha came in the lead with a value of QR 5,673,519,368, with Al Khor and Al Dhakira recording the lowest value of QR 9,629,453. Source: Qatar News Agency