Real Estate Trading Volume Reaches QR 1.4 Billion in November 2023

Doha, December 13 (QNA) - The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in November 2023 amounted to QR 1,460,878,851.
       The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that (321) real estate transactions were recorded during the month. Compared to October 2023, the index of sold real estate registered an increase of 10 percent, and the index of traded areas registered an increase of 7 percent.
       Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in November 2023, according to the real estate market index, followed by Umm Salal, Al Wakrah, Al Khor and Al Dhakira, Al Shamal, and Al Shahaniya.
       The real estate market index for November revealed that the financial value of Doha municipality's transactions amounted to QR 603,706,536. The financial value of Al Rayyan municipality's transactions amounted to QR 504,297,830; while the financial value of Al Dhaayen municipality's transactions amounted to QR 116,096,458. The financial value of Umm Salal municipality's transactions amounted to QR 109,356,712. Al Wakrah municipality recorded transactions with a value of QR 88,888,024, while Al Khor and Al Dhakira municipality recorded transactions with a value of QR 21,835,758, Al Shamal municipality recorded trading with a value of QR 13,715,533, and Al Shahaniya municipality recorded transactions with a value of QR 3,000,000.
       In terms of the traded space index, indicators reveal that Al Rayyan, Doha, and Umm Salal municipalities recorded the most active municipalities in terms of traded real estate spaces during November, with 36 percent for Al Rayyan, followed by Doha municipality with 25 percent, Umm Salal with 13 percent. Al Dhaayen recorded 10 percent, Al Wakrah recorded 9 percent, Al Khor and Al Dhakira recorded 3 percent, Al Shamal 3 percent, and Al Shahaniya 1 percent of the total traded spaces.
       In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during November were Al Rayyan (28 percent) followed by Doha (26 percent), Al Dhaayen (13 percent), Al Wakrah (13 percent), Umm Salal (12 percent), Al Khor and Al Dhakira recorded (4 percent), and Al Shamal recorded (4 percent) of the total real estate transactions.
       Average per square foot prices for November ranged between (613-791) in Doha, (244-558) in Al Wakrah, (322-469) in Al Rayyan, (322-439) in Umm Salal, (255-562) in Al Dhaayen, (229-238) in Al Khor and Al Dhakira, (134-188) in Al Shamal, 194 in Al Shahaniya.
       The trading volume revealed the highest value of (10) properties sold in November, recording (6) properties in Doha, (3) properties in Al Rayyan, and (1) property in Umm Salal.
       As for the volume of mortgage transactions that took place in November 2023, the number of mortgage transactions amounted to 88 transactions, with a total value of QR 3,197,355,537. Al Rayyan recorded the highest number of mortgage transactions with (38) transactions, equivalent to 43.2 percent of the total number of mortgaged properties, Doha followed with 25 transactions equivalent to 28.4 percent, Al Dhaayen with (11) transactions equivalent to 12.5 percent, Umm Salal with (5) transactions equivalent to 5.7 percent, Al Wakrah with (4) transactions equivalent to 4.5 percent each, Al Khor and Al Dhakira with 3 transactions equivalent to 3.4 percent, and finally Al Shamal with (2) transactions equivalent to 2.3 percent of the total properties mortgaged during the month.
       As for the value of mortgages, Doha Municipality came in the lead with a value of QR 2,289,949,207 while Al Shamal recorded the lowest value amounting to QR 1,650,000.
       The residential unit trading movement during November 2023 recorded a total of (170) transactions with a total value of QR 359,246,656. (QNA)