Real Estate Trading Volume Reaches QR 1.1 Billion in November

DOHA: The volume of real estate trading in sales contracts registered by the Ministry of Justice in November amounted to QR 1,144,987,437, demonstrating the sector's continued growth. The analytical real estate bulletin highlighted that 324 real estate transactions were recorded during this period, with the municipalities of Doha, Al Rayyan, and Al Dhaayen leading in financial value. According to Qatar News Agency, the real estate market index for November showed that Doha Municipality recorded the highest financial transaction value at QR 544,386,829. Al Rayyan followed with QR 245,137,436, and Al Dhaayen with QR 126,702,613. Other active municipalities included Umm Salal, Al Khor and Al Thakhira, Al Wakrah, Al Shamal, and Al Sheehaniya, each contributing to the overall trading volume. The traded areas index indicated that Al Rayyan, Doha, and Al Dhaayen were the most active municipalities, accounting for 31 percent, 26 percent, and 12 percent of traded areas, respectively. In terms of the number of transa ctions, Doha led with 33 percent, followed by Al Rayyan at 23 percent. The average price per square foot varied across municipalities, with Doha ranging from QR 367 to 922, and Al Shahaniya at QR 159. Notably, Doha Municipality accounted for eight of the ten highest-valued property sales in November. The report also detailed mortgage transactions, with 87 transactions totaling QR 3,763,315,115. Al Rayyan recorded the highest number of mortgage transactions, while Doha had the highest value at QR 1,872,232,299. The top ten mortgages represented 89 percent of all mortgage transaction values for the month. Residential unit trading recorded 72 deals, amounting to QR 148,875,696. The data indicated robust growth in the real estate sector, supported by new laws and decisions related to brokerage, registration, and ownership, reinforcing the Qatari economy's strength.