Throughout the first three months of this year, Qatar’s real estate market has continued to rise. Data from the Ministry of Justice indicates that in the third quarter (Q3) of 2024, transactions in the real estate sector totaled QR4.253 billion.
Long-term growth in the industry, several infrastructure projects and developments, the government of Qatar’s investment-friendly policies, and investors’ desire for safe investments are all factors contributing to the market’s potential in Qatar.
January 2024 saw the highest levels of real estate transactions, totaling QR1.919 billion. A total of QR1.391 billion was recorded in February 2024, and QR942 million in real estate transactions were recorded in March of the same year.
The strength of the Qatari economy, the breadth of construction activities, and the accomplishment of numerous plans for economic diversification under Qatar National Vision 2030 all attest to the real estate sector’s growth in the country. In addition to the laws drawing in both domestic and foreign investment, this makes it one of the fastest growing sectors for real estate brokerage, ownership, and registration.
In January, the Real Estate Registration Department at the Ministry of Justice recorded a total of QR1,919,640,254 in real estate trading volume through sale contracts. 362 real estate transactions were registered during this time, according to the data. The index of traded areas showed a 21 percent increase and the index of real estate sales showed a 10 percent increase from December 2023.
In terms of monetary value, the municipalities of Doha, Al Rayyan, and Al Dhaayen had the highest number of transactions in January, followed by Al Wakrah, Umm Salal, Al Shamal, Al Khor, and Al Dhakira.
A total of QR1,391,961,588 in real estate trading in sale contracts was recorded in February. During the month, about 350 real estate transactions were registered. According to the real estate market index, the municipalities of Doha, Al Rayyan, and Al Dhaayen had the highest number of transactions in February concerning financial value. These were followed by Al Wakrah, Umm Salal, Al Shamal, Al Khor, and Al Dhakira.
However, the amount of real estate trading volume in sale contracts that was recorded in March was QR942,154,324m.
The real estate market in Qatar is expanding remarkably as a result of a number of 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. In contrast to the movement of real estate trading in 2022, the transactions in June (517), September (509), and February (445) showed the greatest movement.