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Mon 27 Jul 2015 02:09 PM

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Qatar property transactions in H1 total $9.8bn

Total value of Qatar's real estate transactions for the first six months of 2015 rise by 18%

Qatar property transactions in H1 total $9.8bn
The number of Qatars real estate transactions dropped between 2011 and 2015.

The total value of Qatar's real estate transactions for the first six months of 2015 was $9.8bn (QAR36bn), up 18% from corresponding figures for 2014, worth $6.6bn (QAR24.4bn).

The value of real estate transactions in Qatar has "almost tripled" during the last five years, local daily The Peninsula reported, quoting market analysts.

However, there is a significant drop in the number of transactions during 2011-2015.

A comparative analysis of the market performance for the first six months of past five years show a significant increase in the combined value of transactions, but a sharp fall in the number.

The first half of 2015 witnessed a 48% rise in the combined value of transactions year-on-year; however, the total number of transactions declined to 3,050, from 4,503 struck during the same period a year ago.

The total number of deals is down by 7% in the first half of 2015, compared to the deals struck during the first half of 2011.

Ahmed Al Arouqi, general manager of Roots Real Estate, said: "Qatar's real estate market has grown manifold over the past five years in terms of value.

"But the total number of deals has been remaining flat for the past three years. If you compare the total number of deals struck in first half of 2015 with 2011, you could see the number has fallen to 3,050 from 3,279."

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