The Qatar real estate sector ended 2024 on a high with transactions valued at more than $836m recorded in December.
The volume of real estate trading in sale contracts registered with the Qatar Real Estate Registration Department at the Ministry of Justice in December 2024, amounted to QR1,043,726,242 ($836.7m).
The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 283 real estate transactions were recorded during the month, as the number of properties sold index recorded an increase of 12 per cent, compared to the previous month.
Qatar real estate transactions
Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in December, according to the real estate market index, followed by Umm Salal, Al Wakrah, Al Khor and Al Dhakira, and Al Shamal.
The real estate market index for December 2024, revealed that the financial value of Doha municipality’s transactions amounted to QR378,431,311 ($104m).
The financial values of transactions amounted to:
- Al Rayyan: QR278,570,203 ($76.5m)
- Al Dhaayen: QR131,540,887 ($36.1m)
- Umm Salal: QR110,355,792 ($30.3m)
- Al Wakrah: QR105,573,933 ($29m)
- Al Khor and Al Dhakira: QR27,213,581 ($7.5m)
- Al Shamal: QR12,040,535 million ($3.3m)
- Al Shahaniyah: QR15,271,000 million($4.2m)
In terms of the traded space index, indicators revealed that Al Rayyan, Doha, and Al Wakrah municipalities recorded the most active municipalities in Qatar, in terms of traded real estate spaces during December 2024, with 30 per cent for Al Rayyan municipality, followed by Doha municipality with 24 per cent, and Al Wakrah with 15 per cent.
Um Salal municipality recorded 13 per cent, Al Khor and Al Dhakira with five per cent, while Al Shamal municipality recorded three per cent of the total traded spaces.
Concerning the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during December were Doha with 35 per cent, followed by Al Rayyan with 21 per cent, then Al Wakrah with 14 per cent.
Umm Salal recorded traded transactions of 13 per cent, Al Dhaayen with 10 per cent, Al Khor and Al Dhakira with six per cent, and Al Shamal with two per cent of the total real estate transactions.
An average per square foot prices for December ranged between (366-735/$100-202) in Doha, (240-374/$66-103) in Al Wakrah, (336-461/$92-127) in Al Rayyan, (248-387/$248-106) in Umm Salal, (304-582/$84-160) in Al Dhaayen, (227-266/$62-73) in Al Khor and Al Dhakira, and (144-204/$40-56) in Al Shamal.
The trading volume revealed the highest value of 10 properties sold in December with Al Rayyan recording four properties, two properties in Doha and Al Dhaayen, and one property in each of Umm Salal and Al Wakrah.
As for the volume of mortgage transactions in December, the number of transactions amounted to 99 transactions, with a total value of QR3,706,993,973 ($1bn).
Doha recorded the highest number of mortgage transactions in Qatar with 29 transactions, equivalent to 29.3 per cent of the total number of mortgaged properties, followed by Al Rayyan with 28 transactions, equivalent to 28.3 per cent of the total number of mortgaged properties, followed by Al Dhaayen with 18 transactions equivalent to 18.2 per cent of the total number of mortgaged properties, then Al Wakrah with 11 transactions, equivalent to 11.1 per cent, Umm Salal with 10 transactions, equivalent to 10.1 per cent, followed by Al Khor and Al Dhakira with 3 transactions equivalent 3 per cent.
As to the value of mortgages, the municipality of Al Rayyan came in the lead with a value of QR2,076,114,164 ($570m), with Al Khor and Al Dhakira recording the lowest value of QR5,170,000 ($1.4m).
As for residential units in Qatar, their trading movement during December recorded 93 deals with a total value of QR177,822,906 ($48.9m).
This data confirms the continued strong growth of the Qatari real estate sector in various investment and commercial fields, thanks to the new decisions related to real estate brokerage, real estate registration and documentation, ownership and usufruct, in addition to the laws that attract local and foreign capital, which enhances its position as one of the most important components of the national economy.
Follow us on
