Doha Real Estate Market Surges: Record-Breaking Trading Volume Soars to QR1.574bn!

The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice reached QR1,574,575,828. According to the real estate analytical bulletin issued by the Ministry of Justice, a total of 301 real estate transactions were recorded during the month. The municipalities of Doha, Al Rayyan, and Al Dhaayen emerged as the most active in terms of financial value, followed by Al Wakrah, Umm Salal, Al Khor and Al Dhakira, and Al Shamal.

The financial value of real estate transactions in the municipality of Doha amounted to QR682,117,639, while the municipality of Al Rayyan reached QR426,787,506 and the municipality of Al Dhaayen amounted to QR209,715,908. Al Wakrah municipality recorded transactions worth QR128,144,286, Umm Salal municipality amounted to QR100,676,550, Al Khor and Al Dhakira municipality reached QR14,907,996, and Al Shamal municipality recorded transactions worth QR12,715,908.

In terms of the traded space index, the municipalities of Al Rayyan, Doha, and Al Wakrah were the most active in terms of traded real estate spaces in June, accounting for 29%, 25%, and 16% respectively. Al Dhaayen recorded 15% of the total traded spaces, Umm Salal recorded 10%, Al Shamal recorded 3%, and Al Khor and Al Dhakira recorded 2%.

When looking at the number of real estate transactions, Doha was the most active municipality with 24% of the total, followed by Al Rayyan with 21%, Al Dhaayen with 18%, Al Wakrah, and Umm Salal each with 15%, and Al Shamal with 4%. Al Khor and Al Dhakira recorded 3% of the total transactions.

The average per-square-foot prices in June varied across municipalities. In Doha, the prices ranged between QR1016-503, Al Wakrah saw prices from QR482-220, Al Rayyan from QR425-350, Umm Salal from QR493-253, Al Dhaayen from QR528-285, Al Khor and Al Dhakira from QR301-221, and Al Shamal from QR162-173.

In terms of properties sold, a total of 10 properties were sold in June, with 5 properties in Doha, 4 properties in Al Rayyan, and 1 property in Al Dhaayen.

In terms of mortgage transactions, there were a total of 93 transactions in June 2023, amounting to QR1,361,502,248. Doha recorded the highest number of mortgage transactions with 48 transactions, followed by Al Rayyan with 22 transactions, Al Wakrah with 9 transactions, Al Dhaayen with 7 transactions, Al Khor and Al Dhakira with 3 transactions, and Umm Salal with 3 transactions.

The value of mortgages in Doha Municipality reached QR930,590,353, while Umm Salal recorded the lowest value at QR4,050,000.

Overall, the number of mortgaged properties exceeded the financial value of mortgage transactions in most municipalities. However, Doha and Al Rayyan saw higher financial values compared to the number of mortgage transactions.

In June, Doha Municipality accounted for 8 out of the top 10 mortgaged properties, while Al Rayyan recorded 2. These top 10 properties represented 74% of the total value of all mortgage transactions that took place during the month.

Leave a Reply

Your email address will not be published. Required fields are marked *

Emiratisation Details For UAE Business Know About Corporate TAX-UAE