The real estate market in Qatar is expanding remarkably as a result of several factors, such as favorable government policies, a high GDP growth rate, population growth, and job opportunities. In 2023, 3,579 transactions totaling QR16.703 billion were made in the real estate sector.
With 382 transactions totaling QR2.040 billion in February of 2023, the real estate trading market saw its peak momentum. March had 340 transactions after this, and May had 337 transactions. According to Ministry of Justice data, the largest movement in real estate trading during 2022 was observed in June (517), September (509), and February (445) transactions.
According to the 2023 real estate market index, the most active municipalities in terms of financial value were Doha Municipality, Al Rayyan Municipality, and Al Dhaayen Municipality in that order. Doha Municipality ranked first with financial values of transactions totaling QR6.820 billion, followed by Al Rayyan Municipality in second place with QR4.577 billion and Al Dhaayen in third place with QR2.131 billion.
The municipalities with the highest activity in terms of real estate sales in 2023 were Al Rayyan (26 percent), Doha (23 percent), and Al Dhaayen (16 percent). The most active municipalities in the real estate trading movement last year, according to the area index, were Al Rayyan (32 percent), Doha (22 percent), and Al Wakrah (17 percent) of the total deal area.
The value of the top ten real estate properties for 2023 was disclosed by trading. There were eight properties in the Doha Municipality and one each in the municipalities of Al Rayyan and Al Dhaayen.
Doha Municipality registered the highest number of mortgage transactions with 547 (equivalent to 40.6 percent) of the total number of mortgaged properties. The volume of mortgage transactions achieved during 2023 reached 1347 transactions with a total amount of QR45.641bn. The next two municipalities with the highest percentage of mortgaged properties, 26.7 percent and 16.8%, respectively, were Al Dhaayen Municipality (226 transantions) and Al Rayyan Municipality (367 transactions).
In 2023, the Doha Municipality topped the list with a value of QR30.055 billion in mortgages, followed by Al Shamal Municipality with a value of QR17.872 million, and Al Sheehaniya with no mortgage transactions recorded.
The residential units in The Pearl and Al Qassar zone saw 1044 deals with a total value of QR2.751bn during the last year 203.
Unprecedented property ownership reforms were implemented by Qatar, enabling non-Qatari nationals to invest in and own real estate. These programs give investors in the real estate industry several benefits, including the opportunity to invest in specific commercial ventures, receive free healthcare and education, and be granted permanent residency.
In addition, financial institutions provide flexible and competitively priced mortgage loans that appeal to both homebuyers and investors. Qatar is a great place for real estate projects because of the increasing variety of properties as well as the abundance of cultural and entertainment attractions.