According to official Ministry of Justice data, the number of mortgage transactions achieved during this year’s second quarter (Q2) reached 376 transactions with a total amount of QR15.479bn, indicating a 42 percent increase compared to the same period last year.
Al Rayyan Municipality came in second with 97 transactions, or 25.8% of the total number of mortgaged properties, while Doha Municipality recorded the greatest number of transactions with 133, or 35.4 percent. Subsequently, Umm Slal Municipality recorded 90 transactions, or 23.9%, of all mortgaged properties.
The official data also showed that there were 264 mortgage transactions in the second quarter of last year, totaling QR12.406 billion.
Of the total number of mortgaged properties, Doha Municipality recorded the most mortgage transactions with 124, or 47 percent. Al Rayyan Municipality came in second with 69 transactions, or 26.1%. Afterward, Al Dhaayen Municipality, with 32 transactions (or 12.1% of all mortgaged properties), came in second.
In Q2 2024, Doha Municipality topped the list with a mortgage value of QR11.785 billion, while Al Shamal Municipality recorded the lowest value at QR7.552 million. In Q2023, Doha Municipality ranked first with a total of QR6.170 billion, while Al Shamal Municipality recorded the lowest value at QR1.65 million.
Except Doha Municipality, all municipalities that saw mortgage transactions have a ratio of the number of mortgage transactions to all transactions when the movement of mortgage transactions is taken into account.
It was discovered that, in comparison to the total number of mortgage transactions, the amounts of mortgage transactions achieved a higher rate.
After a brief examination and tracking of the volume and movement of mortgage transactions processed in Q2, 2024, it was discovered that three of the top ten mortgaged properties were registered by Al Rayyan Municipality, and seven properties were registered by Doha Municipality.
Of all the mortgage transactions processed in Q2, 2024, the volume of mortgage transactions for the top ten properties accounted for 58% of the total value.
