Qatar’s real estate sector has experienced a surge as the number of properties sold increased in April of this year. In April 2024, the total number of properties sold in the country was 201, a 28 percent increase over the previous year.
In April 2024, Al Rayyan accounted for 49 properties, representing an 11 percent increase year on year, followed by Al Wakra 45 (309%), Umm Slal 22 (29.4 percent), Al Shamal 8 (700 percent), Al Khor, and Thakhira 10.5 (110 percent). According to figures released by the National Planning Council, the municipalities of Doha, Al Daayen, and Al Sheehaniya experienced annual declines.
In April 2024, the country saw a total of QR811.6 million in property sales. The real estate sector is one of Qatar’s fastest growing, ranking second only to the energy sector in terms of investment attraction.
In April 2024, Qatar issued 466 building permits, representing a 21.7 percent increase over April 2023. The new building permits accounted for 219 of the total building permits issued, with additions 235 and fencing 12 in April 2024.
The data on building permits is especially important because it is regarded as an indicator of the performance of the construction sector, which plays a significant role in the national economy.
Qatar’s real estate market continued to grow in the first three months of this year. The real estate sector saw deals worth QR4.253 billion in the first quarter of 2024.
The country’s market is expected to grow in the long run, owing to several infrastructure projects and developments, industry expansion across the country, and investment-friendly initiatives implemented by the Qatari government, as well as an appetite for safe investment.
Real estate transactions peaked in January 2024, with a total value of QR1.919bn. The total value of real estate transactions in February 2024 was QR1.391 billion, and in March of this year, there were QR942 million.