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Monday, October 26, 2020

Number of Qatar real estate deals up 40% in September

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Recovering from months of partial lockdown, the number of real estate deals has recorded a 40% increase in September compared to August of this year, reaching a total of 696, authorities revealed.

Real estate deals in Qatar have recorded a rise of 40 percent since August, reaching 696 despite pandemic challenges, according to the Ministry of Justice.

Last month, the real estate trading index achieved a total value of QR3,160,934,082 for 696 real estate deals in the country. 

Read more: Qatar real estate transactions top QR4 billion in August alone.

In terms of most active in financial value, Doha municipality earned the highest value with QR1,536,198,886, followed by Al Rayyan with a trading value of QR669,487,214. 

Ranking third, Al Daayen had a value of QR512,236,864.

On the other hand, Al Rayyan recorded most active in terms of municipalities, with roughly a 28 percent share, followed by Doha with 22 percent.

Ranking third again is Al Daayen, with 21 percent of the total deals.

Read more: Qatar’s economy continues to recover as stock market sees a 21% surge.

In terms of sold real estate, Al Daayen jumped to first place, with 26 percent of total traded areas, followed by Doha with 22 percent. Al Rayyan came in at third place with 20 percent of total sold areas.

Out of the top ten deals made last month, seven were recorded in Doha. The remaining three were in Al Rayyan and in Al Daayen.

Meanwhile, in terms of transactions, a total value of QR6,615,354,354 was traded in September, reaching 230 transactions. 

The highest number of mortgage transactions recorded by a municipality is 114 by Al Daayan, earning a total of 49.6 percent. 

Last month, the real estate trading movement in The Pearl and Al Kassar area witnessed an increase compared to August, with a total value amounting to QR223,410,071.


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