Qatar records 64 real estate deals worth QR207.8m in one week

Doha: The value of real estate transactions in Qatar stood at QR207.8m during the third week of April 2022, with an average of QR3.25m per deal, according to the weekly real estate bulletin issued by the Real Estate Registration Department at the Ministry of Justice. Data collected from April 17-21 showed there were as many as 64 real estate deals during the period, with a weekly decrease of 11 percent in the number of real estate transactions.

The weekly real estate index issued by the Market Research Department at Utopia Properties also noted a decrease in the value of the real estate deals by 30.5 percent compared to the previous week.

Real estate deals which have been executed during the period varied to include 32 deals of vacant land which comprised 50 percent of the total weekly deals with a total value of QR66.7m, representing 32 percent of the weekly deals value. Other transactions included 29 houses deals with a total value of QR106.8m, two multi-purpose vacant lands worth QR31.5m, and one residential building with a value of QR2.9m.

The highest deal in terms of value during the third week of April came through selling a multi-purpose vacant land in Al Waab zone at Al Rayyan Municipality with a value of QR19.1m and a price of QR950 per foot, with a total area of 1,865sqm.

Secondly, there was a deal to sell a house in Al Gharafa zone at Al Rayyan Municipality worth QR13m with a price of QR762 per foot, and a total area of ​​1,584sqm. Also, Al Waab zone at Al Rayyan Municipality witnessed a deal to sell another multi-purpose vacant land worth QR12.4m with a selling price of QR1,100 per foot with a total area of ​​1,046sqm.

The houses deals that were executed in the third week of April amounted to QR106.7m. There were as many as 29 houses deals during the period, with an average of QR3.68m per deal, and an average price of QR471 per foot.

The highest average price was recorded in Doha Municipality which witnessed the execution of 6 deals worth QR36.05m with an average of QR789 per foot, followed by Al Dayyen Municipality which witnessed 5 deals worth QR12.6m and an average of QR442 per foot.

Thirdly, Umm Slal Municipality witnessed the execution of 3 deals worth QR8.13m and an average of QR403 per foot, followed by Al Rayyan Municipality with 13 deals worth QR44m with a price of QR380 per foot.

While the lowest price per square foot among houses deals was in Al Khor and Al Dhekra Municipality which came through one deal worth QR3.85m and a price of QR220 per foot.

In terms of vacant land deals, their total value amounted to QR66.7m through the execution of 32 deals, with an average of QR2.1m per deal, and an average price of QR353 per foot.

Doha Municipality topped the list in terms of the number of transactions with 4 deals worth QR8.3m with an average of QR927 per foot, followed by Umm Slal Municipality with 3 deals for vacant lands with an average of QR301 per foot and a total value of QR4.9m.

Al Rayyan Municipality came in third place with 12 deals worth QR32.1m with a value of QR298 per foot, while Al Dayyen Municipality recorded 9 deals with an average of QR244 per foot with a value of 15.7 Million Riyals, followed by Al Wakrah with one deal with a value of QR1.8m and an average of QR230 per foot.

While the lowest price per foot among vacant land deals was in Al Khor & Al Dhekra Municipality which recorded 3 deals worth QR3.8m with a price of QR227 per foot.

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