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Wed 14 Nov 2012 09:52 AM

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Qatar does $400m in property deals in a week

Five-day period sees bumper real estate transactions in wealthy, fast growing Gulf state

Qatar does $400m in property deals in a week

Real Estate transactions in Qatar during a five-day period from November 4-8 reached almost US$400m, according to Qatar News Agency.

The figure was issued by the Ministry of Justice via its real estate registration department and covered properties that were traded either through sales or mortgages.

These included villas, apartments, compounds, shops and pieces of land in municipalities including Doha, Al Khor, Al Rayyan, Al Wakra, Umm Salal and Al Daayen.

A report published by Asteco in July suggested that rental values in Qatar grew by 8 percent in the second quarter of 2012, with apartments and villas at UDC's The Pearl-Qatar development attracting the highest rents with two-bedroom apartments being let for around US$3,570 per month.

A DTZ report covering the first quarter of 2012 also said occupancy rates across the emirate were generally high, and had reached 95 percent in popular areas like The Pearl and the Diplomatic District.

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