Qatar recorded real estate transactions worth QR 516.36 million through sales contracts between September 20 and 24, according to the Ministry of Justice’s Registration Department.
“The total value of sales contracts for residential units during the same period amounted to QR 66,738,529, bringing the week’s total real estate trading volume to QR 583.101 million,” the Department stated further.
As per the Department’s weekly bulletin, the traded properties included vacant land, houses, residential buildings, a service building, commercial buildings, and residential units.
Sales transactions, on the other hand, were concentrated in the municipalities of Al Rayyan, Doha, Umm Salal, Al Wakrah, Al Daayen, Al Khor and Al Dhakira, and Al Shamal.
Lusail 69, The Pearl Island, Al Wukair, Al Gharafa, Al Kharayej, and Ghar Thuaileb saw similar sales upticks as well.
The Department maintained consistent alignment with Qatar’s Aqarat (Real Estate Regulatory Authority), which experienced similar momentum during the week of September 13 to 19, when the property market recorded substantial activity across sales, mortgages, and rental transactions.
Property sales during the week reached QR 430.7 million, while mortgage transactions totalled QR 805.42 million. Along with that, 502 lease contracts got registered during the period.
Mortgage activity was a massive plus during the week.
As per the Aqarat, between September 13 and 19, the market registered 37 mortgage transactions worth QR 805.42 million.
While the mortgage value was down 11.5% year-on-year, it jumped 599.3% compared to the previous week.
The number of mortgage transactions increased 54.2% year-on-year and 184.6% week-on-week.
“Land represented 50.28% of mortgage value, with transactions worth QR446 million. Villas accounted for QR330 million, or 37.20%, while buildings represented QR111 million, or 12.51%,” Aqarat observed.
At QR 505 million, capital Doha accounted for the largest share of mortgage value among the listed municipalities, equivalent to 59.27%. Al Rayyan followed with QR 205 million, while Al Shamal recorded QR 142 million.