In July 2023, there were QR1,548,821,347 worth of real estate trading in sale contracts that were recorded with the Ministry of Justice’s Real Estate Registration Department.
258 real estate transactions were documented during the month, according to statistics from the real estate analytical bulletin published by the Ministry of Justice. According to the real estate market index, Doha, Al Rayyan, and Al Dhaayen municipalities came out on top for the most lucrative deals in July 2023, followed by Al Wakrah, Umm Slal, Al Khor and Al Dhakira, and Al Shamal.
According to the real estate market index for July, the transactions in the Doha municipality were worth QR826,424,515. Al Rayyan municipality’s transactions had a financial worth of QR360,599,413 while Al Dhaayen municipality’s transactions had a value of QR146,893,466.
Al Wakrah municipality’s transactions had a total value of QR124,088,180. Al Khor and Al Dhakira municipality reported transactions worth QR20,690,000, Al Shamal municipality reported commerce at QR6,326,570, and Umm Salal municipality reported transactions worth QR63,499,203.
According to indicators for the traded space index, the municipalities of Al Rayyan, Doha, and Al Wakrah were the most active in terms of traded real estate spaces during the month of July, with Al Rayyan recording a 33 percent share, Doha municipality coming in second with 23 percent, and Al Wakrah recording a 23 percent share. Al Khor and Al Dhakira each received 3% of the total traded spaces, while Al Shamal received 1%, Umm Salal received 6%, and Al Dhaayen received 11%.
In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during the month of July were Al Rayyan (36 percent) followed by Doha (24 percent), Al Dhaayen (18 percent), Al Wakrah (8 percent) and Umm Salal (7 percent), Al Khor and Al Dhakira recorded (5 percent), and Al Shamal (2 percent) of the total real estate transactions.
For the month of July, the average price per square foot varied from (1177 to 588) in Doha, (418 to 233 in Al Wakrah, (432 to 257) in Al Rayyan and Umm Salal, (574 to 291) in Al Dhaayen, (339 to 202) in Al Khor and Al Dhakira, and (150 to 227) in Al Shamal.
The transaction volume revealed that (10) properties were sold for the highest price in July, with (6) in Doha, (2) in Al Rayyan, and (1) in each of AL Wakrah and Al Dhaayen.
There were 315 mortgage transactions in July 2023, totaling QR4,358,050,731 in value. This information relates to the volume of mortgage transactions.
Doha had the most mortgage transactions (157), which is equal to 49.8% of all mortgaged properties, followed by Al Dhaayen (111 transactions, or 35.2%), Al Rayyan (32 transactions, or 10.2%), Umm Salal (9 transactions, or 2.9%), and Al Wakrah (6 transactions, or 1.9%).
In terms of the mortgage value, Doha Municipality led with a total of QR2,427,022,342, while Umm Salal had the lowest total at QR25,571,586.
In all municipalities where mortgage transactions occurred, except for Al Rayyan municipality, where it is discovered that the amounts of mortgage transactions achieved a higher rate, the ratio of the number of mortgaged properties to the ratio of their financial value is greater than the ratio of the amounts of mortgage transactions. This is an indicator of the movement of mortgage transactions.
Following the movement and number of mortgage transactions in July, it was discovered that 6 of the top 10 mortgaged houses were located in Al Rayyan Municipality, 3 were in Doha, and one of the top ten was in Al Dhaayen. The total value of mortgage transactions for the top 10 properties accounted for 78 percent of the month of July’s total mortgage transaction volume.
When it comes to trading in the Pearl and Al Qassar Area, there were 37 residential unit deals that were included in the purchasing and selling transactions in July 2023, with a total value of QR70,959,096.
The release of new laws and decisions on real estate brokerage, real estate registration, ownership, and usufruct, as well as laws that attract domestic and foreign capital, is evident from real estate trading data for the month of July 2023. The real estate sector is continuing to grow steadily and robustly in all investment and commercial fields to continue the movement of active trading in the sector during the recent period.