In 2023, the nation received about 11,000 residential units, compared to an anticipated 12,500 for the same year, according to a report by ValuStrat.
Notable projects completed in Qatar in the final quarter of 2023 include the residential buildings Al Kharaej (150 units) and Al Serdal (120 apartments) in Lusail.
According to ValuStrat, the country’s residential stock increased by 795 dwellings in the fourth quarter of 2023, bringing the total to 343,500 units.
For the first quarter of 2024, more than 2,200 units are planned, with 30% going to Lusail and 40% going to Pearl Island.
According to ValuStrat, there was a 14% quarterly and 33% annual increase in the volume of residential sales in Qatar in 2023.
The median ticket size for residential units dropped 5.3% year over year but stayed steady at QR2.7 million every quarter.
In Q4, 2023, the most number of residential house transactions occurred in Doha, Al Rayyan, and Umm Salal.
In Qatar, 114 residential building transactions occurred in 2023, indicating a 31% YoY decrease in volume and a 19% annual decline in value to QR1.4 billion.
In comparison to 2022, Pearl Island and Al Qassar saw increases in transaction values and volume of 82% and 44%, respectively, in 2023.
The total office stock was estimated to be close to 7 million square meters GLA in Q4 of 2023, with 65% of that space classified as Grade A.
According to the researcher, projects that were supposed to be completed in Q4, 2023, have been moved to next year.
Due to project delays, ValuStrat research has revised the projected office supply lower to 490,000sq m GLA in 2023.
Office project pipelines are anticipated to reach 185,000 square meters of gross leasable area this year, according to ValuStrat.
The nation’s retail stock of shopping centers held steady at roughly 2.4 million square meters of gross leasable area in Q4 of 2023.
Souq Al Matar, a visually striking seven-storey and two-restaurant complex modeled after a traditional Qatari market, opened at Hamad International Airport.
The ValuStrat Price Index (VPI) for the residential market held steady every quarter in the fourth quarter of 2023, but fell 1.7% yearly to 64.1 points in comparison to a “100 point base” established in Q1, 2016.
The residential market ValuStrat Price Index (VPI) was steady every quarter in the fourth quarter of 2023, but it fell 1.7% yearly to 64.1 points from a base of 100 points established in Q1, 2016.
The gross yield for residential units dropped from 6.1% to 5.9%, per ValuStrat. Villas made up 4.8% of the total, while apartments made up 8.2%. It stated that the price-to-rent ratio had risen to 19 years.